Day trading guide for today: Six stocks to buy or sell on Thursday — October 19

livemint.com:

Day trading guide for today: Following weak global market sentiments, Indian stock market ended lower on Wednesday session. Nifty 50 index went down 140 points and closed at 19,671 levels, BSE Sensex corrected 551 points and ended at 65,877 mark whereas Bank Nifty index finished 520 points lower at 43,888 levels.

In broad market, small-cap index shed 0.32 per cent while mid-cap index went down 0.85 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty seems to have reversed down, after showing a range bound action.

Further weakness from here is likely to drag Nifty down to 19,400 to 19,350 levels in the near term. Immediate resistance is placed at 19,750 levels." On Bank Nifty outlook, Ruchit Jain, Lead Research at 5paisa.com said, "The RSI oscillator in the Bank Nifty index has given a negative crossover and thus, then momentum there could be on the negative side.

Until we see any strength in the banking space again, traders should turn cautious and avoid aggressive trading for directional moves." On Nifty Call Put Option data, Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities said, "Major total Call open interest was seen at 19700, 19800 and 19900 strikes with total open interest of 197233, 326146 and 269375 contracts respectively. Major Call open interest addition was seen at 19700 and 19800 strikes which added 154782 and 183140 contracts in open interest," adding, "Major total Put open interest was seen at 19600 and 19500 strikes with total open interest of 192615 and 176357 contracts respectively.