Day trading guide for today: Six stocks to buy or sell on Tuesday — September 12Personal FinanceDay trading guide for today: Six stocks to buy or sell on Tuesday — September 12

Day trading guide for today: Six stocks to buy or sell on Tuesday — September 12


Speaking on Nifty touching the landmark 20,000 peak, Ashishkumar Chauhan, MD & CEO at National Stock Exchange (NSE) said, “Nifty 50 – India’s favourite stock index reached a historic and an important milestone of 20,000 mark today. Nifty 50’s progress over last 27 years, since it was launched at initial number of 1,000, shows is a testament to the trust Indian and foreign investors place in India’s capital markets and its regulatory, legal system to provide fair, efficient, transparent, low-cost, always available, orderly market place that is better than the best in the world and thought as well as execution leaders in the world not only in terms of trading technologies but also in corporate governance. More than 7.5 crore direct unique PAN numbers having investors are now registered with us suggesting that 5 crore households now directly invest a portion of their savings in equities market via the best in class, most automated, highly regulated markets provided by NSE consistently for several decades since its inception.”

Day trading guide for stock market today

On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term trend of Nifty continues to be positive. A sustainable move above 20K mark is expected to pull Nifty towards the next overhead resistance of around 20,450 levels (38.2% Fibonacci extension). Immediate support for Nifty today is placed at 19,850 levels.”

Expecting further upside in Indian stock market, Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities said, “Next target to look forward to in Nifty is 21,500 which is 3,000 points from the main breakout level of 18,500. Despite the markets hitting new all-time high the valuations are still reasonable. Nifty’s trailing twelve months PE is at 22.39, which is slightly above its long-term median of 20.62. Thus, Nifty has enough room for further expansion especially given that we are entering an election year, the room for upside is wide open.”

Stocks to watch today

Among dividend stocks in September 2023, nine stocks are going to trade ex-dividend today. Those nine dividend paying stocks are MSTC, Bhagwati Auto, Jupiter Wagons, Hind Hardy, etc.

Stock in focus

Among bonus shares in September 2023, shares of Power Grid Corporation will be in focus as the stock is going to trade ex-bonus today. The board of directors of the company has announced issuance of bonus shares in 1:3 ratio.

Day trading stocks for today

On 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 six stocks to buy or sell today.

Sumeet Bagadia’s intraday stocks for today

1] Divi’s Laboratories: Buy at 3736, target 3852, stop loss 3654.

Based on a comprehensive technical analysis of DIVISLAB, it is currently trading at 3736, having found substantial support at the 3700 level and maintaining this position for a week. The stock is demonstrating strength by trading above key Exponential Moving Averages (EMAs) including the 20, 50, 100, and 200. This signifies a positive trend and suggests a favourable outlook.

2] Axis Bank: Buy at 1000, target 1040, stop loss 980.

Axis Bank share ais currently trading at 1000. The chart suggests that Axis Bank has established a robust support level in the range of 970 to 980 levels, coinciding with the 50 and 20-day Exponential Moving Averages (EMA).

Ganesh Dongre’s stocks to buy today

3] Gujarat Gas: Buy at 460, target 472, stop loss 452.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till 472 so, holding the support level of 452 this stock can bounce toward the 472 level in the short term. So, the trader can go long with a stop loss of 452 for the target price of 472.

4] Bharti Airtel: Buy at 890, target 900, stop loss 882.

On the short-term chart, the stock has shown a bullish reversal pattern, so holding the support level of 882. this stock can bounce toward the 900 level in the short term. So, the trader can go long with a stop loss of 882 for the target price of 900.

Rajesh Bhosale’s buy or sell stocks

5] Piramal Enterprises Ltd or PEL: Buy at 1127, target 1200, stop loss 1097.

Stock is looking bullish on chart pattern and may give strong upside in near term.

6] Max Financial Services Ltd or MFSL: Buy at 954, target 985, stop loss 937.

The stock may continue its bull trend in near term and can give strong upside movement in upcoming sessions.

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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Updated: 12 Sep 2023, 07:18 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




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