5 stocks to buy or sell today — January 14
Today’s trading guide for Friday: The bullish momentum continued in the market on Thursday amid high volatility and the Indian stock market closed in green territory for the 5th consecutive session. Nifty 50 finished 45 points higher at 18,257 while BSE Sensex added 85 points and closed at 61,235 levels. The Nifty Bank Index saw signs of consolidation as it finished down 257 points at 38,469 levels.
According to stock market experts, the short-term trend of the Indian stock market continues to remain positive, but after a reasonable bullish move or close to the hurdle, it could signal a confused mood among the participants. This action most often results in a downward trend reversal. Therefore, trading long positions should pay attention to highs.
Daily trading guide for the stock market today
Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “Nifty’s short-term trend continues to be positive. The emergence of high volatility and a doji formation at the hurdle could indicate possible consolidation or minor weakness in the coming sessions. Any correction lower from the highs could find support for Nifty at the uptrend line around the 18,000 levels. However, a decisive move above 18,272 is likely to undo the short-term bearish setup. .
Suggest a stock-specific trading strategy; Ruchit Jain, Trade Strategist at 5paisa.com, said: “The short term trend continues to remain positive as there is no sign of the trend reversing. However, since the momentum readings on the short term charts futures are in an overbought zone, the focus could shift now to equity-specific momentum while the indices could experience some consolidation Bank Nifty has shown such signs of consolidation before as it has relatively underperformed l benchmark today. However, the trend continues to be positive so one should continue to look for buying opportunities on declines.”
Rupee against dollar: intraday trading strategy
On how the dollar index breaching its recent consolidation phase support can be used, Ruchit Jain of 5paisa.com said, “There was a lot of stock-specific activity today with sectors such as the metals showing a decent rise. The dollar index broke through its recent consolidation. phase support and indicates negative momentum. This could support metals stocks and as a result, we could see continued momentum in this sector. Additionally, some mid-cap stocks continue to see good volumes as well as rising prices and traders should look for opportunities in these stocks, which should continue to outperform in this uptrend.”
Day trading stocks
Share Day Trading Stocks to Buy Today, Stock Market Experts – Sumeet Bagadia, Executive Director at Choice Broking; Avinash Gorakshkar, head of research at Profitmart Securities and Ravi Singhal, vice president at GCL Securities — recommended 5 stocks to buy today.
Day trading in Sumeet Bagadia shares for today
1]Indian Oil Corporation or IOC: Buy from CMP, objective ₹125 to ₹128, stop loss ₹117
2]Tata Engines: Momentum buy at CMP, target ₹530 to ₹540, stop loss ₹490
Avinash Gorakshkar’s stock of the day
3]Sun Pharma: Shop Around ₹865 target ₹900, stop loss ₹850
Ravi Singhal shares to buy today
4]Container Corporation of India or CONCOR: Will buy ₹670 target ₹700, stop loss ₹660
5]Sterling and Wilson Renewable Energy or SW Solar: Shop Around ₹393 target ₹444, stop loss ₹377.
Warning: The opinions and recommendations expressed above are those of individual analysts or brokerage firms, not Mint.
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