Today’s stock market day trading guide: 6 stocks to buy and sell on Monday (January 1)

Today’s day trading guide: The main benchmark indexes of the Indian stock market ended their five-day winning streak and ended the last session of 2023 in a flat trend as some leading stocks booked profits. The Nifty 50 index remained in negative territory throughout the session and ended with a modest decline of 22 points at 21,731 levels. The BSE Sensex ended 0.23 per cent lower at 72,240 levels, while the Nifty Bank index fell 0.45 per cent to end at 48,292 levels. However, the overall market outperformed, with Nifty Midcap 100 and Nifty Smallcap 100 gaining 0.8% and 0.6%, respectively.

“Domestic equities ended the year’s final day on a flat note, ending a five-day winning streak and with some leading stocks booking profits. However, the overall market outperformed, with Nifty Midcap 100 and Nifty Smallcap 100 rising 0.8% and 0.6%, respectively.Sectors include automobiles, FMCG, and real estate. , metals were mixed, with buying seen. Auto and EV stocks posted solid gains following government policy announcements on plans to replace 800,000 diesel buses with electric buses over the next seven years. ,” said Siddhartha Khemka, Head of Retail Research, Motilal Oswal.

Today’s stock market day trading guide

Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities, said about the Nifty 50 outlook today, “Nifty’s short-term uptrend situation is sustained. There is a possibility of price consolidation or range fluctuation.” “Before the upward momentum resumes in the coming sessions. The immediate support for Nifty today is 21,550 and the next upside target will be eyed around 22,000 and 22,200 levels.”

Commenting on the outlook for Bank Nifty today, Rupak De, Senior Technical Analyst, LKP Securities said, “Bank Nifty has fallen and formed a small red solid candlestick on the daily chart. It is located at the upper limit of 48,300. “If the index remains below 48,300, the trend could shift in favor of the bears. Moreover, a decisive decline below 48,000 could push the index below 47,500. Conversely, a decisive move above 48,300 could propel the index towards the upper bound of 48,800 to 49,000.

Commenting on the outlook for the stock market today, Siddhartha Khemka of Motilal Oswal said, “Markets continue to see positive momentum in the near term due to healthy macro economy, strong FII inflows and positive global cues. “I expect this week to be an eventful series of events.” “Economic data from around the world will be released. Automobiles will continue to be in the spotlight as OEMs announce their December sales figures.”

Nifty call put option data

Commenting on Nifty’s call and put option data, Chinmay Babu, Head of Technical and Derivatives Research, Profitmart Securities, said, The addition of major call open interest was seen at 22,000 strikes, adding 59,968 contracts of open interest. He added, “Major put open interest additions were seen at the 21,700 and 21,500 strikes, which added 53,829 and 44,382 contracts, respectively.”

Bank Nifty Call Put Option Data

Talking about the call-put options data on Bank Nifty, Barb further added, “The major gross call open interest was seen at 48,500 strikes and the gross open interest stood at 166,926 contracts.” Additions in major call open interest were seen at the 48,300 and 48,500 strikes, adding 70,010 and 92,363 contracts to open interest, respectively,” it added. Major put open interest additions were seen at 48,200 strikes, adding 50,551 contracts to open interest.”

Today’s day trading stocks

Today’s Intraday Stocks from stock market experts: Sumeet Bagadia, Executive Director at Choice Broking, Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, and Virat Jagad, Technical Analyst at Bonanza Portfolio. has recommended 6 stocks to buy today.

Sumeet Bagadia’s Intraday Stocks Today

1]Zydus Life: buy at INR689.20, target INR720, stop loss INR672.

Current market conditions for the stock reveal that it is well positioned for back-and-forth trading. INR689.20 level.Uptrend from solid support INRThe 672 level has been observed, indicating the resilience of the stock price. Additionally, the stock is trading above key moving averages, including the short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs, indicating sustained strength.

2] voltas: buy at INR978, target INR1029, stop loss INR949.

Voltas daily chart analysis reveals a promising outlook for the coming week, indicating a sustained uptrend. Notably, the stock price has formed a significant high-low pattern, and the recent rally has successfully broken through the neckline and established a new weekly high for the stock price. This breakout suggests the stock could move significantly higher.

Ganesh Dongre Stocks to Buy Today

3]Bharat Forge: buy at INR1238, target INR1270, stop loss INR1210.

In the short-term trend, the stock has a bullish reversal pattern and a contraction could technically be possible until the next period. INR1270. Therefore, if we maintain the support level, INR1210 This stock is INR1760 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget stock price is 1210 INR1270 years.

4]Indiabulls Housing Finance: buy at INR217, target INR228, stop loss INR210.

On the short-term chart, the stock shows a bullish reversal pattern and therefore holds support levels. INR210. This stock is INRIn the short term, the 228 level allows traders to go long with a stop loss. INRTarget stock price is 210 INR228.

Buying and selling shares of Virat Jagad

Five] united spirits: buy at INRFrom 1115 INR1120, target INR1174, stop loss INR1090.

On Daily time frame, United Spirits Inc. broke out of the rectangle pattern, indicating a positive trend in the stock price. Buyers need to look more attractive to buy securities above the 1100 level.

If the fast (5) EMA is trading above the slow (50) EMA, then the price is trading above both EMAs, indicating a strong uptrend. In addition to this, the MACD is showing a positive crossover, confirming the buying interest. Volume after the breakout is high, suggesting demand for safety.

6]IEX: buy at INRfrom 168 INR169, target INR180, stop loss INR162.

Indian Energy Exchange Corp. started trading in a consolidating range after a long period of decline. In the last trading session, the bulls managed to close above the higher band and a breakout of the cup-and-handle formation was observed. In the relative strength index, the RSI is about to enter overbought territory, confirming the bullish stance.

In terms of EMA, the price is trading above the major EMA, which indicates a positive trend. The Slow EMA (50) and Fast EMA (21) follow the trend and are trending upward, indicating a positive trend. DMI+ sits above DMI-, confirming the existence of a positive trend, while ADX trading above DMI- reflects the underlying strength of the ongoing 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.