Day trading guide for today: Six stocks to buy or sell on Thursday — August 31
Day trading guide for today: Following sell off in European market, Indian stock market lost intraday gains after profit booking trigger in last hour of Wednesday session. However, NSE Nifty and BSE Sensex ended higher with marginal gains whereas Bank Nifty ended in red territory. Nifty 50 index added 4 points and ended at 19,347 levels while BSE Sensex went up 11 points and closed at 65,087 mark.
Bank Nifty index corrected 262 points and ended at 44,232 levels. In broad market, small-cap index surged 0.83 per cent whereas mid-cap index gained 0.55 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty remains choppy.
The lack of strength to sustain the upside bounce on Wednesday could possibly drag Nifty down to its immediate supports of 19,250 to 19,200 levels in the short term. On the upper side, the area of 19,450 is likely to be a strong resistance." On triggers that may dictate Indian stock market today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "Dalal Street would keenly await the GDP data, which is likely to remain strong. However given mixed global cues and derivatives monthly expiry, key benchmark indices are likely to remain in consolidation mode while sector rotation would lead to stock-specific action.
Indian markets would keenly await board meeting outcome of Parsvnath Developers Ltd as the company board is going to consider and approve final dividend for the financial year 2022-23. Among dividend stocks in August 2023, nine stocks are going to trade ex-dividend today. Those nine dividend paying stocks include UNO Minda, Kama Holdings, eClerx, NMDC, etc.
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