Day trading stocks: Indian benchmark equity indices closed higher for the second consecutive session on Tuesday. The NSE Nifty shot up 128 points and closed at 16,624 levels while BSE Sensex gained 403 points and closed at 55,958. Bank Nifty surged 587 points and closed at 35,712 levels. According to stock market experts, Nifty bounced up well over the past two days and on August 24, it filled the downside gap formed on Friday on closing basis. Advance decline ratio also improved dramatically to the highest since August 12.

Trade view on Nifty

Speaking on day trading guide for Wednesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term upside trend of Nifty seems to have strengthened, after a display of lack of strength in the last couple of sessions. The upside move with positive market breadth of Tuesday could hint at a possibility of more upside and revisit of recent all time high of 16,701 levels or higher in the next 1-2 sessions, before showing next round of minor downward correction from the highs. Immediate support is placed at 16,550 levels.”

Day trading stocks to buy today

On day trading guide for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Sandeep Matta, Founder at TRADEIT Investment Advisors — recommended 4 shares to buy today.

Sumeet Bagadia’s day trading stocks

1] Adani Ports and Special Economic Zone: Buy at CMP, target 725 to 730, stop loss 670

2] Cipla: Buy at 915, target 940 to 950, stop loss 895

Sandeep Matta’s top stock picks

3] Indiabulls Housing Finance: Buy at 224, target 240 to 250, stop loss 212

4] Star Paper Mills: Buy at 146, target 155 165, stop loss 134.

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

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