Day trading guide for today: 4 stocks to buy or sell on Wednesday — 25th January

Market


Day trading guide for today: Indian stock market closed flat on Tuesday as most of the Asian markets were closed due to Lunar year holiday. NSE Nifty went off 0.25 points and closed at 18,118 levels while BSE Sensex gained 37 points and closed at 60,978 mark. Bank Nifty index lost 87 points and finished at 42,733 levels. Broad market indices closed in the negative even as the advance decline ratio was down at 0.66:1.

According to stock market experts, a long bear candle was formed on the daily chart, which indicates a continuation of range bound movement in the market. The high-low range of around 18,200 to 18,000 levels has been acting as a high low range over the last five sessions. 

Day trading strategy for stock market today 

Speaking on intraday trading pattern, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “After the upside breakout of triangle pattern at 18,100 levels on 18th January, Nifty has failed to display any upside momentum subsequently and shifted later into a sideways movement. Nifty as per weekly chart is placed around the broader high low band of 18,250 to 17,800 levels over the last one month.”

HDFC Securities expert went on to add that the short-term trend of Nifty continues to be range bound and this choppy movement within 18,200 to 18,000 levels is likely to continue for the next 1-2 sessions. He said that Dalal Street is waiting cues around upcoming Union Budget 2023, which is scheduled on 1st February, i.e. on Wednesday next week.

Nifty call put option data 

Speaking on Nifty call put ratio, Shilpa Rout, Derivatives Lead Analyst at Prabhudas Lilladher said, “Nifty monthly expiry option chain reflects active PE writers at 18100/18000 PE of over 2 lakh OI contracts each. Maximum CE writers participation lies at 18200CE of over 2.7 lakh OI contracts followed by 18100CE of over 2.6 and 18500CE of nearly 2.3 lakh OI contracts. PCR_OI at 18100 is below 1 which needs to be monitored while 18200 acts as resistance on immediate basis.” 

“Bank Nifty monthly expiry option chain witnesses 42500PE writers position of over 1.4 lakh OI contracts followed by 42000PE with 1.1 lakh OI contracts while highest CE writers exposures stands still at 43000CE of nearly 2.2 Lakh OI contracts. Bank Nifty is confined in a trading range of 42500-43000,” said Rout. 

Day trading stocks to buy today 

Unveiling intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Anuj Gupta, Vice President — Research at IIFL Securities — recommended 4 shares to buy today. 

Sumeet Bagadia’s intraday stocks for today 

1] Britannia Industries: Buy at CMP, target 4500, stop loss 4320

2] Maruti Suzuki India Ltd: Buy at CMP, target 8900 to 9000, stop loss 8550 

Anuj Gupta’s stock picks for Wednesday 

3] Delta Corp: Initiate momentum buying at CMP, target 234, stop loss at 198

4] Dabur India: Buy at CMP, target 585, stop loss 520.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.


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