Today’s stock market day trading guide: 6 stocks to buy or sell on January 10th

Stock market today: Equity benchmarks Sensex and Nifty 50 ended flat on Tuesday amid mixed global indexes. Sensex rose 31 points (0.04%) to close at 71,386.21 and Nifty 50 rose 32 points (0.15%) to close at 21,544.85. The BSE Midcap index ended with a slight gain of 0.07%. However, the small-cap index hit an all-time high of 44,110.68 during the session and later closed up 0.37%.

“Nifty opened well on positive global news and crossed 21,700 on an intraday basis. However, towards the end of the day, profit taking was seen and Nifty was just shy of 32 points at 21,545 level. It ended the day on a strong note, erasing the day’s gains,” said Siddhartha Khemka, head of retail research at Motilal Oswal.

Today’s stock market day trading guide

Commenting on today’s outlook for Nifty 50, Kunal Shah, Senior Technical & Derivatives Analyst, LKP Securities said, “Selling pressure is evident within the 21700-21750 zone and 21500 stands out as a key support level for Nifty. The Nifty rests on two possibilities: either it closes above 21750 to regain bullish momentum, or it experiences a close below 21500, prompting further selling pressure and potentially pushing the Nifty index below 21200. It could pull you towards the mark.”

Commenting on the outlook for Bank Nifty today, Shah further said, “The Bank Nifty index continued to have the upper hand as selling pressure intensified from its high levels. “We are facing a strong hurdle at the rising 48,000 level.” “We are observing on the call side. Immediate support for the index lies at the 47,000-46,900 level. Breaking below this support zone could lead to aggressive selling pressure and further downward momentum.”

“The US tech rally and demand for emerging technologies have boosted positive sentiment in the Indian IT sector, overshadowing the sector’s expected weak third-quarter results. Auto and real estate remain strong. It remained popular due to demand: “US inflation has sparked short-term interest rate cut expectations, pushing overall sentiment up. However, mixed cues from Asian markets and concerns about high valuations have There is interim profit taking,” said Vinod Nair, head of research at Geojit Financial Services.

FII DII data

In the spot market, FIIs purchased a significant amount of shares. INRDII purchases the equivalent of 10.03 billion shares INR10.47 billion. In the F&O index futures sector, FIIs remained net sellers. FII sold the equivalent amount of shares. INR11,026,160,000 shares, DII sold the equivalent amount of shares INR10,367,790,000.

Nifty call put option data

Chinmay Babu, Head of Technical and Derivatives Research at Profitmart Securities, said of the data on Nifty’s call/put options, “The major total call open interest was seen with exercise of 21,700 contracts and 21,800 contracts; The numbers were 208,337 and 170,916, respectively. Additions in major call open interest were seen at 21,800 strikes, while open interest added at 31,918 contracts,” adding, “Total major put positions were seen at 21,500 and 21,400 strikes, with total open interest at 114,765 contracts and 100,023 contracts, respectively. Major put open interest additions were seen with 21400 strikes and 28176 contracts were added to open interest.”

Bank Nifty Call Put Option Data

Regarding Bank Nifty’s call and put option data, Chinmay Babu of Profit Mart Securities said, “The main total call open interest was 47,500 contracts and 48,000 strikes, and the total open interest was 231,361 contracts and 362,927 contracts, respectively. ” he said. Major call open interest additions were seen at 47,300 strikes, adding 137,805 contracts to open interest. ”, adding, “The primary total put open interest was seen at 47,000 and 46,500 strikes, with total open interest of 191,943 and 165,634 contracts, respectively.The strike price was 47,500 contracts.”Open interest reduction of 56706 contracts. ”

Today’s day trading stocks

Today on Intraday Stocks, Stock Market Expert – Sumeet Bagadia, Executive Director, Choice Broking. Ganesh Dongre, senior technical research manager at Anand Rathi, and Kunal Kumble, senior technical analyst at Bonanza Portfolio, have recommended his six stocks to buy today.

Sumeet Bagadia Stocks to Buy Today

1. Sun Pharma: Purchase at INR1324.95, target INR1361, stop loss INR1306

Sun Pharma recently experienced a significant breakout above a key resistance zone in the 1300-1310 range on the daily chart. This breakout was accompanied by a strengthening upward movement characterized by higher highs and higher lows. The strong bullish sentiment is further supported by a notable spike in trading volumes.

Key technical indicators, especially the Relative Strength Index (RSI), highlight the stock’s positive momentum. Not only does the RSI indicate favorable trends, but it also coincides with stocks trading above important moving averages, such as the 20-day, 50-day, and 100-day exponential moving averages (EMAs). This convergence highlights the continued strength of Sun Pharma’s price trend.

In summary, this decisive breakout, along with encouraging volume and positive corrections in key technical indicators, suggests a bullish outlook for Sun Pharma. Traders and investors may interpret this analysis as an indication of potential sustained upward momentum in the stock price.

Considering the above analysis, we recommend buying Sun Pharma with cash at current market price (CMP) 1324 with target set at 1361 and stop loss at 1306.

2. Apollo Hospital: Purchase at INR5797.65, target INR6025, stop loss INR5645

APOLLOHOSP stock is currently showing a bullish stance at the 5797.65 level. The recent formation of a solid green candlestick on the daily chart indicates a positive trend. Reinforcing this bullish outlook, the stock enjoys significant support around the 5645 level, which roughly matches the 20-day exponential moving average (EMA).

Notably, APOLLOHOSP is trading above major moving averages, including the short-term (20 days), medium-term (50 days), and long-term (200 days) EMAs, highlighting its overwhelming strength. The Relative Strength Index (RSI), a momentum indicator, is showing a rebound from lower levels, currently sitting at 63, further confirming the stock’s fundamental strength.

This technical setup suggests a favorable environment for potential buyers, as the stock has upside momentum. Investors may find an opportunity to take advantage of this positive trend given the current support level and RSI recovery. Overall chart patterns and indicators point to a constructive outlook for APOLLOHOSP in the short term.

Based on the above analysis, we recommend buying APOLLOHOSP with a stop loss of 5645 and CMP of 5797.65 against a target value of 6025.

Ganesh Dongre Stocks to Buy Today

3. Kotak Bank: Buy at INR1825, Goal INR1875, stop loss INR1800

In the short-term trend, the stock has a bullish reversal pattern and technically a contraction is possible until 1875, so holding the 1800 support level could push this stock towards the 1875 level in the short term. Traders can go long as there is a possibility of a rebound. Stop loss 1800 against target price 1875.

Four. State Bank of India: Buy at INR626, target INR640, stop loss INR616

On the short-term chart, the stock holds the 616 support level as it shows a bullish reversal pattern. Traders can go long with a stop loss at 616, as this stock could rebound towards the 640 level in the short term. Target stock price is 640 yen.

Kunal Kumble stock buying and selling

5. Abbott India: Purchase at INR24220-2432, target INR25780, stop loss INR23449

In the daily time frame, Abbott India formed a descending triangle and closed above the downtrend line indicating an upside breakout. A steady increase in volume indicates that buyers are eager to purchase the security. The price is trading above the fast (50) EMA and slow (200) EMA, which indicate an uptrend for the security. The momentum indicator RSI is trading in a higher zone, indicating that the security is trading in an upward direction. Directionally, DI+ is trading above DI-, indicating an uptrend, while ADX trading above DI- indicates strength of the move.

6. Nikaa: Purchase at INR185.50-187.50, target INR214, stop loss INR171

Nikaa showed a breakout of flag and pole patterns on the daily time frame, indicating bullish continuation for the security. Higher than average trading volume indicates that buyers are interested in the security. Price trading above the key EMA indicates that the golden crossover is not only supporting, but also bullish. The RSI is trading in a higher range, indicating an uptrend in security. Directionally, DI+ is trading above DI-, indicating an uptrend, while ADX trading above DI- indicates strength of the move.

Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.