Day trading guide for today: Six stocks to buy or sell on Thursday — July 13
Day trading guide for today: Indian stock market snapped two days winning streak and ended lower on Wednesday session. 50-stock index Nifty lost 55 points and closed at 19,384 levels whereas 30-stock BSE Sensex went down 223 points and finished at 65,393 mark. Bank Nifty index corrected 105 points and closed at 44,639 levels.
However, broad market continue to catch attention of stock market bulls as small-cap index went up 0.57 per cent while mid-cap index surged 0.48 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Positive chart pattern like higher tops and bottoms is intact as per daily timeframe chart and present weakness could be in line with new higher bottom formation at the highs. On a move below 19,300 levels, the market is likely to find another important support of 19,100 to 19,000 levels.
Fresh buying interest could only emerge on a decisive move above 19,500 levels." On Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities said, "Bank Nifty took support from the 50 per cent Fibonacci Retracement level of 44,583, drawn from the low of 43,520 made on 23rd June to the high of 45,656 made on 4th July. The option activity at 45,000 Strike will provide cues about Bank Nifty’s future direction with the bears having upper hand currently. A break below 44,500 can further intensify the selling pressure in Bank Nifty." On triggers that may dictatte stock market today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, " We expect the market to remain in consolidative mode with support at lower levels.
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