Day Trading Guide for Thursday: 5 Stocks to Buy or Sell Today — September 22
Day Trading Guide for Thursday: After showing weakness from Tuesday’s high, Nifty slipped on Wednesday amid range volatility and closed in negative territory. NSE Nifty closed 97 points lower at 17,718 while BSE Sensex closed 262 points lower at 59,456. The Nifty Bank index closed 264 points south at 41,203.
According to stock market watchers, a small downside candle has formed on the daily chart with small upper and lower shadows. Technically, this pattern indicates a consolidation movement in the market. After the sharp weakness on September 15 and 16, the market showing weakness in the short range may indicate a wide range of volatility. Market breadth remained negative on Wednesday and broad market indices like NSE Midcap and Smallcap segments witnessed marginal weakness.
Stock market today: Technical outlook of Nifty, Bank Nifty
“Short term trend of Nifty still remains volatile. Market is trapped within broad high low range of 18100-17500 and movement is expected within the said range for next few sessions. Any decisive move beyond this range “The momentum has picked up on both sides,” said Nagraj Shetty, Technical Research Analyst, HDFC Securities.
“Bank Nifty is hovering near the 41,000 and 41,700 zones and is finding resistance near the peak zone and a decisive breakout would be required above this critical level for the trend to continue further. Also, 40,300 to 40,400 The zone is an important support zone. Further downside may be seen to weaken the near term bias,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.
nifty call put option data
Speaking on Nifty Call Put Ratio, Shilpa Raut – Derivatives Lead Analyst at Prabhudas Lilladher said, “The Nifty Option series for the week-end completely reflects on split participants. PE writers add highest exposure at 17500PE – PE OI’s. With over a million contracts in total. All immediate attacks and some OTM attacks also saw unwinding. CE authors are also aggressively adding positions on 18100 CE/18200 CE – over 1.3 and 1.4 million contracts, respectively. The PCR_OI at 17700 is about 1.5, important to keep on the radar for direction ahead.”
bank nifty call put option data
“Bank Nifty Future Option Chain reflects PE writers active at 40000/41000 strike – over 80 thousand contracts in total, with PE OI unwinding on multiple ITM strikes. CE writers continue to be active at 42000/43000 strike There are – above one lakh contracts each, definitely more upside movement is likely to resume soon, said Shilpa Raut.
day trading stocks
Shares to buy today unveiled, Stock market expert – Mehul Kothari, AVP – Technical Research at Anand Rathi; Ravi Singh, Vice President and Head of Research, Share India and Anuj Gupta, Vice President, Research at IIFL Securities, listed 5 intraday stocks for today.
Today’s stock of Mehul Kothari
1]Axis Bank: Buy at ₹807, target ₹840, Stop Loss ₹780
Will buy shares of Ravi Singh today
2]Jyothi Labs: Buy at ₹184, target ₹192, Stop Loss ₹181
3]Hindustan Zinc: Buy at ₹281, target of ₹288, Stop Loss at ₹278
Anuj Gupta shares selected for today
4]Indian Hotels: Buy on CMP, Target ₹345, Stop Loss ₹305
5]Renuka Sugar: Buy at CMP, Target ₹70, Stop Loss ₹44.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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