Day trading guide for Monday: After showing massive upside bounce on Thursday, Indian stock market reversed down sharply on Friday and closed in red zone. Nifty-50 Index nosedived 204 points and closed at 17,196 levels whereas BSE Sensex crashed 764 points and closed at 57,696 levels. Bank Nifty also went down 311 points and closed at 36,197 levels. According to market experts, recent upside bounce of the last few trade session seems to have completed and the market has turned down from the highs.

Day trading guide for Nifty-50

Unveiling intraday trading strategy for Monday; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The near term trend of Nifty continues to be down and the recent pullback rally of a down trend seems to have completed. There is a possibility of further weakness on NSE Nifty down to 16,800 levels by next week. Immediate resistance for Nifty-50 is placed at 17,300 to 17,350 levels.”

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Day trading stocks to buy today

Sharing Day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities, Manoj Dalmia, Founder & Director at Proficient Equities Limited and Parth Nyati, Founder at Tradingo — listed out 6 day trading stocks for Monday.

Sumeet Bagadia’s day trading stocks

1] United Phosphorus Ltd or UPL: Buy at CMP, target 725 to 730, stop loss 700

2] NMDC: Momentum buy at CMP, target 150 to 155, stop loss 140

Ravi Singhal’s stock of the day

3] Bajaj Finserv: Sell around 17,500, target 17,000, stop loss 17,777

Manoj Dalmia’s stock pick of the day

4] Jindal Poly Films: Buy at 1102, target 1244, stop loss 1044

Parth Nyati’s day trading stocks for today

5] Clean Science and Technology or CLEAN: Buy at CMP, target 2600, stop loss 2410

6] Aegis Logistics: Buy at around 247.50, target 255, stop loss 242.75.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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