Day trading guide for today: Six stocks to buy or sell on Thursday — August 10
Day trading guide for today: Despite mixed Asian stock market trends on China's deflation worries, Indian stock market reversed from morning worries and ended higher on Wednesday. Nifty index added 61 points and finished at 19,632 levels, Sensex gained 149 points and closed at 65,995 mark whereas Bank Nifty index went down 83 points and closed at 44,880 levels.
Broad market indices rose more than the Nifty even as the advance decline ratio remained high at 1.29:1. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Nifty is currently placed at the important resistance of down sloping trend line around 19,650 to 19,700 levels.
A decisive move above this hurdle is expected to negate the bearish chart pattern and could open the next upside target of around 19,900 to 20,000 levels in the near term. Immediate support for Nifty today is placed at 19,460 levels." On major trigger for Indian stock market today, Ruchit Jain, Lead Research at 5paisa.com said, "RBI monetary policy committee will be declaring the outcome of their meeting and the decision on interest rate changes, if any, in Thursday’s session and hence, traders should keep a close watch on the same.
For now, until any support is broken, traders are advised to trade with a positive bias and look for stock specific buying opportunities." Expecting volatility in Indian stock market today, Siddhartha Khemka, Head - Retail Research, Motilal Oswal said, "Today, we expect the market to see some volatility as RBI will announce its policy decision outcome on the weekly F&O expiry day. Further, RBI’s commentary would be largely tracked to understand their future course of action." On stocks to buy today, stock market experts —
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