Guide to Day Trading Wednesday: 4 Stocks to Buy or Sell Today — September 14

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Today’s trading guide for Wednesday: Due to strong global signals, the bulls continued to beat the bears for the fourth straight session on Tuesday. NSE Nifty gained 133 points and closed at 18,070 while BSE Sensex jumped 455 points and closed at 60,571. The Nifty Bank Index ended up 299 points at 40,873 points. Among sectors, the metals, banks, capital goods and consumer staples indices rose the most, while the oil and gas and real estate indices fell the most. The broad market underperformed, with the mid and small cap indices rising 0.24% and 0.32% respectively.

According to market experts, the market is gradually moving higher after breaking above the resistance of an important downtrend line at 17,900 levels. But, the strength of the bullish momentum, which is necessary for a decisive bullish breakout, is lacking.

Daily trading guide for the stock market today

Speaking on Nifty’s technical outlook, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “Nifty’s short-term trend continues to be positive amid a range move. The display of the Lack of strength following the upward move from the crucial downtrend line resistance at the 17,900 levels could be cause for concern. Immediate support for the Nifty 50 index is placed at 17,950 levels.

“The Nifty finally broke through the 18,000 hurdle to record a daily chart high and continue its momentum. The Banking Index also continued its upside move and nearly tested the 41,000 mark today. However, after several days, the broader markets showed signs of some profit booking and as a result Midcap and Small cap stocks relatively underperformed and posted marginal gains. to hint at positive momentum, but the readings on the lower period chart have reached the overbought zone in Nifty as well as Bank Nifty,” said Ruchit Jain, Head of Research at 5paisa.com.

Nifty call put option data

Speaking on the Nifty call sell ratio, Shilpa Rout, Senior Derivatives Analyst at Prabhudas Lilladher, said: “The Nifty options chain for weekly expiry reflects the CE editors adding more 1 lakh of contracts at 18500 strikes with immediate strikes also showing unwinding support at 18000PE with also contracts overall above 1 lakh and PCR OI at 18000 being close to 2 just plays bullish sentiment with more than trust.”

Nifty Bank Call Put Options Data

“Option chain on active PE writers at various levels between 40000PE and 40800PE, with new maximum exposure at 40800PE – over 50,000 contracts. CE writers adding more than one lakh exposure to 41000CE, followed by more of 70,000 contracts at 42000CE/43000CE, thus also suggesting a strong rise above the 41200 areas,” concluded Shilpa Rout.

Day trading stocks

Sharing the intraday stocks for today, stock market experts – Sumeet Bagadia, Executive Director at Choice Broking and Mehul Kothari, AVP – Technical Research at Anand Rathi – recommended 4 stocks to buy today.

Sumeet Bagadia’s stock picks for Wednesday

1]Britannia Industries: Buy from CMP, objective 3850, stop-loss 3670

2]HDFC Bank: Buy from CMP, target 1535 to 1550, stop loss 1490

Mehul Kothari Intraday Stocks for Today

3]Tata Steel: Buy on 108 target 112, stop loss 105

4]PVR: Buy on 1910 target 1970, stop-loss 1870.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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