Day trading guide for today: Six stocks to buy or sell on Monday — August 14

livemint.com:

Day trading guide for today: Following weak global cues, Indian stock market ended southward on second day in a row. NSE Nifty ended 114 points down at 19,428 levels, BSE Sensex finished 365 points lower at 65,322 mark whereas Bank Nifty index crashed 342 points and closed at 44,199 levels.

In broad market, small-cap index went off 0.31 per cent while mid-cap index closed marginally lower by logging 0.13 per cent intraday loss on Friday. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Market is expected to slide down to 19,290 or lower in the coming sessions to confirm a new lower bottom of the sequence.

Any upside bounce from here could encounter resistance around 19,550 levels for the short term." On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty broke the crucial level of 44,500 on the daily chart, which earlier acted as a strong support for Bank Nifty. The NSE banking gauge has also given a consecutive close below 50-Day Exponential Moving Average (DEMA) of 44,654.

The current fall can continue till 43,500 levels where its next visible support is placed. Fresh buying is likely only if Bank Nifty closes above 45,100 levels on the upside.