Day trading guide: From buy or sell to dividend stocks to watch today — June 26

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 is about to reverse on the downside. Further decisive weakness from here could open intense selling pressure for the coming week. Next lower support for Nifty today is at 18,370-weekly 10 period EMA. Any upside bounce by Nifty could encounter hurdle at 18,760 levels.”

On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities said, “Bank Nifty has been moving in a lower high formation since 8th June and consolidating between the 43,400-44,050 zones since last 7 trading sessions. A decisive breakout on either side of the range will set the tone for the next leg of rally.” Ramani went on to add that India VIX, a fear indicator, gave major discomfort to the bulls last week as it rose 3.6 per cent and closed in green for the first time in five weeks.

Intraday trading tips for Monday

Unveiling intraday strategy for stock market today, Siddhartha Khemka, Head – Retail Research, Motilal Oswal said, “Weak commentary by global IT giant Accenture, a rate hike by BOE and hawkish commentary by US Fed Chair led to profit booking at higher levels that stopped Nifty from making a new high as the index fell short of just 1 point on Thursday last week. We expect the market to consolidate in the near term, although investors should use corrections as buying opportunity.”

Stocks to watch today

Shares of Tata Communication and Taparia Tools will be in focus today as they are going to trade ex-dividend stocks today. Tata Communication dividend record date for ₹21 per share final dividend for the financial year 2022-23 is on 26th June 2023 whereas Taparia Tools has fixed record date to finalise eligible shareholders for payment of ₹77.50 per share final dividend payment for the financial year 2022-23.

Apart from these dividend stocks, shares of Yes Bank, Hindustan Aeronautics Ltd or HAL, IndusInd Bank, etc. are expected to remain in focus for fundamental developments taking place at the respective companies. Yes Bank shares would be in focus today due to its ₹2,500 crore fund raise whereas GE-HAL deal is expected to attract stock market investors attention when the market opens today for trade.

F&O ban list

Five shares have been put in F&O ban list for trade on 26th June 2023 and those stocks are HAL, Hindustan Copper, L&TFH, Punjab National Bank (PNB) and RBL Bank.

Day trading stocks for today

On intraday stocks for today, stock 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 six stocks to buy today.

Sumeet Bagadia’s intraday stocks for today

1] Marico: Buy at ₹528.50, target ₹545, stop loss ₹517.

Marico share price has witnessed some consolidation after a sharp upside rally. The stock is following Higher High- Higher Low formation in daily charts. Moreover, crossover ie, 20 DMA is crossing 50 DMA is seen in the chart confirms the bullish trend. As indicators like RSI and MACD are positively skewed, it validates the price action. One can initiate a long position at CMP ₹528.5 for the target price of ₹545. SL can be kept as ₹517. 

2] United Spirits Ltd or McDowell: Buy at ₹906.60, target ₹950, stop loss ₹885.

McDowell share price has corrected from resistance of ₹920 levels but has bounced from the initial support of ₹888 levels which was prior a resistance. Currently, the stock is trading around ₹906.60 levels. The stock is trading above all important moving averages indicating strength. The correction was from the upper band of the Bollinger band and also the bounce back is from the middle band which indicates strength.

Based on the above analysis MCDOWELL_N can be purchased at CMP of ₹906.60 for the target of ₹950 levels and above.

Anuj Gupta’s buy or sell stocks

3] NTPC: Buy at CMP, target ₹195, stop loss ₹179.

NTPC share price has witnessed substantial rise in trade volume and on chart pattern, trend is looking up. The stock has formed higher top higher bottom on chart pattern that also signals upside movement in near term.

4] BEL: Buy at CMP, target ₹130, stop loss ₹114.

BEL share price has formed bullish chart pattern and the company is fundamentally strong. One can maintain ‘buy on dips’ strategy if the time horizon is little higher.

Ganesh Dongre’s stocks to buy today

5] AB Capital: Buy at ₹175, target ₹185, stop loss ₹170.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹185. So, holding the support level of ₹170 this stock can bounce toward the ₹185 level in the short term, so the trader can go long with a stop loss of ₹170 for the target price of ₹185.

6] Whirlpool: Buy at ₹1450, target ₹1500, stop loss ₹1420.

On the short-term chart, the stock has showing a bullish reversal pattern, so holding the support level of ₹1420 this stock can bounce toward the ₹1500 level in the short term. Hence, the trader can go long with a stop loss of ₹1420 for the target price of ₹1500.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

Updated: 26 Jun 2023, 07:28 AM IST