Friday Daily Trading Guide: Nifty closed at another record 17,822 on Thursday with a large advance among large caps. Nifty opened with a bullish spread following positive Asian indices and continued to rise throughout the day with minimal corrections. BSE Sensex climbed 958 points and closed at 59,885 levels. The small and mid-cap indices underperformed the Nifty, advancing by 0.9% and 1.2% respectively.
On a day when volumes on the NSE were higher than the recent average, real estate was the featured artist with an 8.7% increase. Then come the indices of capital goods, banking and energy. The FMCG index finished slightly in the negative.
Asian stocks posted cautious gains on Thursday, supported by positive news from cash-strapped developer China Evergrande Group. European equities rallied for a third day as global sentiment improved on easing concerns over cash-strapped developer China Evergrande. A survey showed that euro area trade activity grew at its slowest pace in five months in September, as restrictions to limit the Delta variant of the coronavirus hit demand and chain constraints. supply have pushed input costs to a high of more than two decades.
Commercial view on NSE Nifty
Speaking on the day’s trading strategy for Friday; Deepak Jasani, Head of Retail Research at HDFC Securities, said: “Nifty is moving slowly and steadily towards 18,000, unless a global event (like Evergrande) disrupts that momentum.
Day trading stocks to buy today
Intraday Stock Sharing For Today, Stock Market Experts – Sumeet Bagadia, Executive Director of Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Sigre, Senior Technical Analyst at LKP Securities and Sandeep Matta, Founder at TRADEIT Investment Advisors – recommended 7 stocks to buy today.
Daily actions of Sumeet Bagadia for today
1]CNBC: Buy on ??CMP, target ??50 to ??52, stop loss ??44
2]Larsen & Toubro: Dynamic purchasing at CMP, objective ??1825 to ??1850, stop loss ??1725
Mudit Goel’s action of the day
3]Alkem Laboratories: Buy from CMP, target ??4050, stop loss ??3930
Rohit Sigre’s intraday actions for today
4]Tata engines: Buy on ??318, target ??330 to ??345, stop loss below ??308
5]Piramal Enterprises Ltd or PEL: Buy on ??2765, target ??2820 to ??2850, stop loss below ??2720
Sandeep Matta Stocks to Buy Today
6]RBL Bank: Buy on ??185, target ??200, stop loss ??172
7]Star cement: Buy on ??108, target ??120, stop loss ??100.
Disclaimer: The opinions and recommendations expressed above are those of individual analysts or brokerage firms, not Mint.
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