Day trading guide for today: Five stocks to buy or sell on Friday — August 18
Day trading guide for today: Following weak global market cues, Indian stock market finished lower on Thursday. NSE Nifty went down 99 points and ended at 19,365 levels, BSE Sensex lost 388 points and closed at 65,151 mark whereas Bank Nifty index went off 55 points and closed at 43,891 levels.
In broad market, small-cap index went down 0.19 per cent whereas mid-cap index ended higher with marginal gains. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty remains choppy with weak bias.
There is a possibility of downside breakout of the key lower support around 19,300 to 19,250 levels in the short term and that could possibly drag Nifty down to another supports of 19,100 to 19,000 levels in the near term. Any rise from here could find strong hurdle at 19,600 levels." On outlook for Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "Bank Nifty has been moving near the 43,700-44,000 zone with a cautious bias with 43,300 levels acting as the major crucial support zone for the index failing which the overall trend would turn weak and can expect for intensified profit booking ahead.
At the same time, as mentioned earlier, it would need a decisive move past the 44,400 zone, for the bias to improve and expect for further rise." On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi and Pravesh Gour, Senior Technical Analyst at Swastika Investmart — have recommended five stocks to buy or sell today. 1] Tata Consumer: Buy at ₹844, target ₹868, stop loss ₹831.
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