Day trading guide for today: 6 stocks to buy or sell on Monday — 20th February

According to stock market experts, Nifty as per weekly chart formed a small bull candle with long upper and lower shadow. After placing at the edge of upside breakout at the hurdle of 17,800 levels in the last week, Nifty manages to close higher by half a percent by this week despite encountering hurdle at 18,150 levels.

Day trading guide for stock market today

Speaking on outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The short term trend of Nifty is choppy with weak bias. The present weakness has not damaged the near term uptrend status of the market so far and we expect chances of buying emerging from near the lower support of around 17,800 levels in the week ahead. On the higher side, the area of 18,150 could act as a resistance.”

Sharing F&O view on Nifty, Rahul Ghose, Founder & CEO at Hedged said, “The Bank Nifty index today saw huge short positions being created at the 41,500 CE levels. The straddle of 41,500 which was the popular choice for the last 2 weeks for traders saw a shift to the 41,000 levels indicating a range shift. Nifty on the other hand saw creation of short straddles around at the 17,900 Level mark indicating that traders are not expecting markets to fall a lot from this point with the highest change in open interest seen at the 17,900 CE and the 18,000 CE level. Even for the next month expiry, there was huge unwinding of the 18,200 CE and fresh shorting seen at the 18,100 CE & 18,000 level indicating narrowing of the range.”

Rahul Ghose went on to add that the sideways range is still intact in Nifty between the upper and lower points at 17,350 and 18,260 levels and any change in momentum would be seen only after a break of these levels.

Day trading stocks to buy today

Unveiling intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi and Rajesh Bhosale, Technical Analyst at Angel One — recommended 6 stocks to buy today.

Sumeet Bagadia’s stock picks for Monday

1] Godrej Consumer Products: Buy at CMP, target ₹ ₹960 to ₹970, stop loss ₹925

2] Berger Paints: Buy at CMP, target ₹580 to ₹590, stop loss ₹555

Ganesh Dongre’s intraday stocks for today

3] Radico Khaitan: Buy at ₹1125, target ₹1165, stop loss ₹1105

4] Firstsource Solutions Ltd or FSL: Buy at ₹118, target ₹124, stop loss ₹114

Rajesh Bhosale’s stocks to buy today

5] UltraTech Cement: Buy at ₹7300, target ₹7550, stop loss ₹7176

6] UBL: Buy at ₹1475, target ₹1530, stop loss ₹1449.

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.