4 stocks to buy or sell today — February 11
Day trading stocks: Helped by the outcome of the RBI MPC meeting in which the dovish stance was maintained and policy rates remained unchanged, the Indian stock market rose for the third consecutive session on Thursday. NSE Nifty finished 142 points higher at 17,605 while BSE Sensex jumped 460 points and closed at 58,926 levels. The Nifty Bank Index gained 400 points and closed at 39,010 levels.
According to stock market experts, the current trading pattern of Dalal Street indicates continued bullish momentum amid high volatility. This signals that selling pressure may be emerging from higher levels.
Today’s Trading Guide for Friday: Which Signal from Global Signals?
On Thursday on Wall Street, the Dow Jones ended down 1.47% at 35,241 while the Nasdaq lost 2.10% and closed at 14,185 levels. Market experts believe that this sell-off in US markets was mainly due to disappointing US inflation data.
Speaking on the stock market opening bell for Friday; Anuj Gupta, Vice Chairman of IIFL Securities, said: “The overall trend is positive, but due to the correction in US markets following disappointing US inflation data fueling speculation of a rate hike interest rate of 50 basis points by the Fed earlier than expected, Indian markets may feel some selling pressure in the opening bell, keep buying on the dips at support levels.
Anuj Gupta of IIFL Securities said that SGX Nifty opened flat and Indian traders should keep an eye on the small SGX Nifty range of 17,350 to 17,700 as the breakout of either level would work as a bullish or bearish trend in the Indian markets. He said the wider SGX Nifty range for today is 17,100 to 17,950.
Daily trading guide for the stock market today
Speaking on the day trading guide to the stock market today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said, “Nifty’s short-term underlying trend continues to be positive. in the next two sessions. Immediate support for NSE Nifty is placed at 17,450 levels.
Unveiling of important levels for the Nifty and Bank Nifty indices; Sumeet Bagadia, Executive Director of Choice Broking, said, “NSE Nifty has immediate support at 17,500 levels while its strong support is placed at 17,400 levels. Likewise, the immediate resistance for NSE Nifty is at 17,700 while its strong hurdle is placed at around 17,750 levels. For traders interested in Bank Nifty, its larger range is 38,500-39,500 while its small range is 38,700-39,300.”
Day trading actions for today
Sharing the day trading stocks for Friday, stock market experts – Sumeet Bagadia of Choice Broking and Anuj Gupta of IIFL Securities – recommended 4 stocks to buy today.
Sumeet Bagadia day trading stocks
1]Sun Pharma: Buy from CMP, objective ₹925, stop loss ₹880
2]Firstsource Solutions Ltd or FSL: Momentum buy at CMP, objective ₹160 to ₹165, stop loss ₹143
Anuj Gupta’s day trading for Friday
3]Adani Power: Buy from CMP, objective ₹140, stop loss ₹113
4]Hindalco Industries: Buy from CMP, objective ₹585, stop loss ₹522.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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