Day trading guide for stock market today: Six stocks to buy or sell on Friday — October 27

Day trading guide for stock market today: Dalal Street continued to bleed for the sixth straight session on Thursday as FIIs sold out Indian shares worth ₹7,702 crore. However, DIIs provided big support to the Indian stock market as they bought shares worth ₹6,558 crore on the previous session. Nifty 50 index lost 264 points and ended at 18,857 levels, BSE Sensex dipped 900 points and closed at 63,148 mark while Bank Nifty index corrected 551 points and finished at 42,280 levels. In broad market, small-cap index fell 0.32 per cent whereas mid-cap index crashed 1.06 per cent.

Day trading guide for today

On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty continues to be negative. Having moved into oversold region, there is a chances of upside bounce occurring from the lows. A decisive move below 18,800 levels could open next downside of 18,500 to 18,600 levels in the near term."

On outlook for Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "Bank Nifty after breaching below the 200 period MA made another weak candle to touch the 42,100 zone with heavy profit booking seen with most of the frontline banking stocks stepping into their weak trend. We have the next support zone visible near 41,500 levels below which the matter can turn worse."

Intraday trading tips

Unveiling stock market strategy amid bloodbath on Dalal Street, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "Given the global uncertainties, there could be higher volatility in the near term and thus giving long term investors an opportunity to accumulate quality stocks at lower levels. We suggest to make higher allocation towards large caps as valuations are comfortable along with steady growth prospects."

Nifty Call Put Option data

Speaking on Nifty Call Put Option data, Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities said, "Major total Call open interest was seen at 19000 and 19100 strikes with total open interest of 112408 and 69183 contracts respectively. Major Call open interest addition was seen at 19000 and 19100 strikes which added 106828 and 46868 contracts in open interest," adding, "Major todal Put open interest was seen at 18800 and 18600 strikes with total open interest of 73998 and 44696 contracts respectively. Major Put open interest addition was seen at 18800 strike which added 51009 contracts in open interest."

Bank Nifty Call Put Option data

On Bank Nifty Call Put Option data, Chinmay Barve of Profitmart Securities said, "Major total Call open interest was seen at 42500 and 43000 strikes with total open interest of 106053 and 122857 contracts respectively. Major Call open interest addition was seen at 42500 strike which added 102415 contracts in open interest," adding, "Major total Put open interest was seen at 42300 and 42000 strikes with total open interest of 56204 and 66589 contracts respectively. Major Put open interest addition was seen at 42300 and 41500 strikes which added 48567 and 66407 contracts respectively."

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 Mitesh Karwa, Research Analyst at Bonanza Portfolio — recommended six stocks to buy or sell today.

Sumeet Bagadia's intraday stocks for today

1] Voltas: Buy at ₹829, target ₹865, stop loss ₹808.

The technical analysis provided for Voltas share price suggests a generally positive outlook. VOLTAS is currently trading at ₹828.90 levels, having recently rebounded from a support level at ₹808 levels. This bounce indicates that buyers are active at this level, potentially providing a foundation for further price gains.

2] ACC: Buy at ₹1910, target ₹1985, stop loss ₹1865.

ACC share price is currently trading at ₹1910. On the daily chart, after a prolonged correction, the price has formed a neutral candlestick pattern at the bottom, indicating a potential reversal. The price is currently trading in a range between ₹1868 and ₹1920. If the price closes above ₹1868, it may move further upwards with target levels at ₹1960 and ₹1985 levels. On the flip side, ₹1865 is an important support level.

Ganesh Dongre's day trading stocks

3] Avalon Technologies: Buy at ₹490, target ₹530, stop loss ₹475.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹530. So, holding the support level of ₹475 this stock can bounce toward the ₹530 level in the short term. Hence, the trader can go long with a stop loss of ₹475 for the target price of ₹530.

4] McDowell-N: Buy at ₹1010, target ₹1045, stop loss ₹990.

On the short-term chart, the stock has shown a bullish reversal pattern, so holding the support level of ₹590. This stock can bounce toward the ₹1045 level in the short term. Hence, the trader can go long with a stop loss of ₹590 for the target price of ₹1045.

Mitesh Karwa' buy or sell stocks

5] Xpro India: Buy at ₹1006 to ₹1012, target ₹1065, stop loss ₹970.

Xpro India share is seen to be taking support from a support zone and closing in green which is why a buy recommendation is initiated for targets upto ₹1065. One can initiate buy on dip in the range of ₹1006 to ₹1012 with stoploss below ₹970 on daily closing basis.

6] Antony Waste Handling Cell Ltd or AWHCL: Buy at ₹389 to ₹391, target ₹415, stop loss ₹376.

AWHCL share price is seen to be breaking out of a pattern formation with a bullish candlestick on the weekly timeframe which indicates strength which is buying is recommended for targets upto ₹415. One can initiate a buy trade in between the range of ₹389 to ₹391 with stoploss of ₹376 on daily closing basis.

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.