Day trading guide for today: 5 stocks to buy or sell on Friday — 30th December
Day trading guide for today: Indian stocks recovered smartly from the morning lows and finished in positive zone on Thursday session. Last hour trades for F&O monthly expiry squaring off/rollover and Nifty index weight rejig trades helped 50-stock index end 68 points higher at 18,191. BSE Sensex surged 223 points and closed at 61,133 whereas Bank Nifty index gained 424 points and closed at 43,252 levels. Volumes in the NSE cash market were the lowest in 6 months for F&O expiry day. Broad market indices rose less than the Nifty as focus was on large-caps and advance decline ratio ended at 1.18:1.
According to stock market experts, a long positive candle was formed on Nifty’s daily chart, which confirm the important bottom reversal pattern that was formed few sessions back at 17,774 levels. Presently, Nifty is placed at the edge of upside breakout of the crucial hurdle at 18,200 levels.
Day trading strategy for Friday
Unveiling intraday trading tips for traders, Deepak Jasani, Head of Retail Research at HDFC Securities said, “Nifty rose on three out of the last four days and ended smartly up on the F&O expiry day. Now Nifty could face resistance at 18244-18255 band while 17977 could offer support for the near term.”
Nifty call put option data
Speaking on Nifty call put ratio, Shilpa Rout, Derivative Lead Analyst at Prabhudas Lilladher said, “Nifty weekly expiry option chain witnesses highest PE writers position at 18000PE with over 45 lakh OI shares followed by 17300PE of nearly 30 lakh OI shares. CE writers exposures lies at 18200/18500 strike with nearly 30 lakh OI shares and 27 lakh OI shares each. Fresh put writing additions at 18200 strike witnessed , PCR OI at 18100 is 1.65 which is a support for now and no major call writing on above strikes indicates strong momentum upward.”
“ With a strong surge that showed that bulls are back in action, the market oscillation came to an end,” Rout added.
Bank Nifty call put option data
“Bank Nifty weekly option chain data reflects Put OI additions at 43000PE and 42500PE of over 17 lakh OI shares and 14 lakh OI shares. CE writers most active position lies at 43500 strike with over 12 lakh OI shares and over 8 lakh OI shares at above strikes of 44000/44500,” said Shilpa Rout.
Day trading stocks to buy today
Sharing intraday stocks for today, share market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at IIFL Securities and Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi — recommended 5 stocks to buy today.
Sumeet Bagadia’s intraday stocks for today
1] Hero Motocorp: Buy at CMP, target ₹2800 to ₹2850, stop loss ₹2670
2] GAIL: Buy at CMP, target ₹100 to ₹102, stop loss ₹92
Anuj Gupta’s stocks to buy today
3] Federal Bank: Buy at CMP, target ₹147, stop loss ₹132
4] Ugar Sugar: Buy at CMP, target ₹115, stop loss ₹97
Ganesh Dongre’s day trading stocks for Friday
5] Pidilite Industries: Buy at ₹2603, target ₹2710, stop loss ₹2550.
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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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.