Day trading guide for today: 6 stocks to buy or sell on Monday — 24th April

Day trading guide for today: After recovering from early morning losses, both Nifty and Sensex finished flat on Friday. However, Nifty Bank index lost 151 points and ended at 42,118 levels. But, before ending flat on the weekend session, Nifty climbed to eight week high of 17,863 whereas Nifty Bank climbed to 12-week high of 42,603 levels in the previous week.

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 remains weak and there is a possibility of some more weakness in this week. A decisive break below 17,600-17,550 levels could open sharp decline for the market. Immediate resistance for Nifty today is placed at 17,700 levels."

"The Implied Volatility (IV) has seen a gradual contraction over the last couple of weeks as reflected by the INDIAVIX, the fear gauge of India, which is currently at 11.57 levels. The Nifty on the weekly chart has formed a bearish candle but prices are firmly holding above its 50–week exponential moving average (EMA)," said Rohan Patil, Technical Analyst at SAMCO Securities.

Unveiling intraday trading strategy for Monday session, Ruchit Jain, Lead Research at 5paisa.com said, "The FMCG basket is witnessing a good buying interest and the Nifty FMCG index too have positive setups. Traders can look for stock specific opportunities from this sector from a trading perspective."

Day trading stocks to buy 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 Jigar Patel, Senior Technical Analyst at Anand Rathi — recommended 6 day trading stocks for today and those six stocks are Britannia Industries, Pidilite Industries, Wipro, Reliance Industries Ltd or RIL, TCS and HDFC Ltd.

Sumeet Bagadia's buy or sell stocks for today

1] Britannia Industries: Buy at CMP, target ₹4450 and ₹4500, stop loss ₹4250

2] Pidilite Industries: Buy at CMP, target ₹2500 to ₹2525, stop loss ₹2400

Anuj Gupta's intraday stocks for today

3] Wipro: Buy at CMP, target ₹395, stop loss ₹344

4] Reliance Industries Limited or RIL: Buy at CMP, target ₹2420, stop loss ₹2285

Jigar Patel's day trading stocks for today

5] TCS: Buy at ₹3160, target ₹3220, stop loss ₹3120

6] HDFC: Buy at ₹2760, target ₹2810, stop loss ₹2730.

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.