Day trading guide for today: Six buy or sell stocks for Wednesday —October 18

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Day trading guide for today: Key equity indices the Sensex and the Nifty 50 ended with gains in the previous session, snapping their three-day losing run, on widespread buying across various sectors amid positive global cues. While the Israel-Hamas conflict endures and concerns about its potential spread to other nations persist, investors appear to have shifted their attention towards corporate earnings and macroeconomic indicators. Nifty 50 index closed the day at 19,811.50, up 80 points, or 0.40 per cent.

The 30-share pack Sensex closed the day at 66,428.09, up 261 points, or 0.39 per cent. The BSE Midcap index rose in sync with the benchmark index by 0.39 per cent while the Smallcap index outperformed, rising 0.70 per cent. Market experts noted that frontline indices snapped the losing streak on the back of short-covering as positive Asian cues aided recovery and globally optimism over strong earnings helped ease concerns over the Israel-Gaza conflict.

Also Read: FIIs invest ₹263 crore in Indian stocks as Sensex, Nifty snap 3-day losing streak; DIIs infuse ₹112 crore On the outlook for Nifty today, Ajit Mishra, SVP - Technical Research, Religare Broking reiterates bullish view. ‘’We suggest continuing with a 'buy on dips' approach till it manages to hold 19,600. On the other hand, we are seeing a rise in volatility across sectors with the beginning of earnings so traders should keep a check on stock selection and risk management aspects,'' said Mishra.