Today’s stock market day trading guide: 6 stocks to buy and sell on Monday (January 8)

Today’s day trading guide: Despite weak global market sentiment, two of the three major benchmark indexes in the Indian stock market ended higher on Friday. The Nifty 50 index added 52 points to close at 21,710 levels while the BSE Sensex added 178 points to regain the 72,000 level in the last trade of the week. However, the Banknift index fell by 36 points and ended at 48,159 levels. The small cap index gained more than the Nifty even though the advance/decrease ratio remained high at 1.18:1.

“Nifty opened positive for the second day in a row and closed 52 points higher at 21711 level.India’s services PMI for December widened to 59, returning to positive.VIX decline further strengthens sentiment. It was a mixed buy sector-wise, as seen in IT and auto,” said Siddhartha Khemka, head of retail research at Motilal Oswal.

Today’s stock market day trading guide

Commenting on the outlook for Nifty 50 today, Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities said, “Nifty’s short-term uptrend situation remains intact, but the market remains at 21,800-21,850 levels in the coming sessions. “We are likely to find resistance nearby.” “A decisive move above the 21,850-21,900 level could open up the next upside objective at the 22,200 level. A decline from here could find support near 21,500.”

Also read: Bajaj Auto stock is in focus today as the board of directors will consider share buybacks

Commenting on Bank Nifty’s outlook today, Kunal Shah, Senior Technical & Derivatives Analyst, LKP Securities said, “Bank Nifty has shown a strong recovery from the support level of 47,500 and is showing active bullish movement. “The price has rebounded from the 14-day moving average support at 47,800.” “A close above 48,200 is very significant as it could push the index towards 48,500 and 48,800 levels.The immediate support for Bank Nifty today is at 47,800 levels and in the current market scenario It indicates an important level to monitor.”

Focus on third quarter 2024 results

Commenting on the outlook for the stock market today, Siddhartha Khemka of Motilal Oswal said, “We expect the market to take cues from the upcoming earnings season starting from January 11 with TCS and Infosys, HCL Tech, Wipro, HDFC.” Several other companies, including Life, will be reporting earnings next week, but the healthy pre-quarter earnings updates indicate that the profit growth momentum is likely to continue into the third quarter. Overall, we expect the market to remain in a positive range. We expect the stock-specific action to continue. We will pick up the pace as earnings season begins. ”

FII DII data

In the cash segment, FIIs purchased significant stakes INRIt bought $1,696.86 million on Friday, but INRF&O Index Futures segment has 485.32 million shares worth.But DII bought INROn Friday, 26,024.54 million shares worth of shares in the F&O Index Futures segment were offered for sale, while the equivalent of Indian shares were sold. INRIn the spot market, it was $3,497.62 million.

Also read: Stocks to watch: Dr. Reddy’s, Federal Bank, Titan, Adani Wilmar, JSW Steel

Prohibited food and drink list

Eleven stocks were subject to F&O bans on Monday. Those stocks are Balrampur Chini, Chambal Fertilisers, Delta Corp, Escorts, GNFC, IEX, India Cements, NALCO, SAIL, PEL, ZEEL.

Nifty call put option data

Chinmay Barbu, head of technical and derivatives research at ProfitMart Securities, said of Nifty’s call/put option data, “The primary call open interest was 21,800 strikes and the total open interest was 115,848 contracts.” said. Major call open interest additions were seen at 21,800 strikes, adding 59,949 open interest. ”, adding, “Major total put interest was seen at 21,500 strikes, with total open interest at 108,654 contracts each. Major put additions were seen at 21700 and 21500 strikes, with open interest at 49392 contracts and 32828 contracts, respectively. Contract added.”

Bank Nifty Call Put Option Data

Regarding the data on Bank Nifty call put option, Chinmay Babu of Profitmart Securities said, “The main total call open interest was 48,500 contracts and 49,000 contracts, and the total open interest was 181,505 contracts and 148,521 contracts respectively. ” he said. Major call open interest additions were seen at 48,500 strikes, adding 92,376 contracts to open interest. ”, adding, “The primary total put open interest was seen at the 48,000 and 47,500 strikes, with total open interest of 161,399 and 113,467 contracts, respectively. At a strike price of 47,800, there was an open interest reduction of 12,936 contracts.”

Also read: Indian stock market: 7 things that changed in the market over the weekend

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 6 stocks to buy today.

Sumeet Bagadia’s Intraday Stocks Today

1]LT: buy at INR3521.90, target INR3675, stop loss INR3420.

LT stock price is currently INR3521.90 level.Stocks have strong support INRThe 3420 level is also close to the 20-day EMA level, and the stock is showing a strong rebound from the same support mentioned above. LT is now ready to move forward to new all-time highs and beyond. The strength of the stock’s upward power is evidenced by the RSI indicator trading comfortably at the 65 level. The stock price is also trading above all important moving averages. When the stock price exceeds its all-time high, INRYou can progress towards 3560 levels. INR3675 or more.

2]Zydus Wellness: buy at INR1693, Goal INR1744, stop loss INR1661.

Zydus Wellness’s daily chart shows a significant change in market dynamics, moving from a period of slight declines and sideways consolidation to a promising uptrend. The current trading session is showing upward momentum, breaking out of a tight range and forming a bottom rounding pattern on the daily chart.If there is upward movement INR1700 could signal a breakout to the upside. This development is consistent with a short-term positive trend, supported by a notable increase in trading volumes.

Ganesh Dongre Stocks to Buy Today

3]ICICI Lombard: buy at INR1396, target INR1420, stop loss INR1380.

In the short-term trend, ICICI Lombard stock is showing a bullish reversal pattern and a contraction could technically be possible till the next period. INRTherefore, holding the 1380 support level could cause this stock to rebound towards 1420. INR1420 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget stock price is 1380 INR1420.

4]Sona Blw precision forging: buy at INR648, target INR665, stop loss INR635.

On the short-term chart, Sonocom stock is showing a bullish reversal pattern and should hold support levels. INR635. This stock is INRIn the short term, the 665 level allows traders to go long with a stop loss. INRTarget price is 635 INR665.

Kunal Kumble stock buying and selling

Five] Poonawalla Fincorp: buy at INRFrom 458 INR460, target INR500, stop loss INR440.

Poonawalla Fincorp stock formed a flag and pole pattern on the daily time frame. Today’s close confirmed a breakout from the uptrend pattern, indicating increased volume and buyers regaining control. The security closed strongly near its high, indicating positive price action with positive sentiment. On the momentum side, the RSI has broken out of the downtrend line in response to price movements.

6]Motherson Sumi wiring: buy at INR65.50~ INR66, target INR71, stop loss INR63.50.

In daily time, Frame Motherson Sumi Wiring’s stock broke out of the rectangle pattern on the upside, indicating a positive trend in the stock price. Buyers need to look more attractive to purchase securities above the 65 level. The short (9) EMA is above the first (21) EMA, indicating a positive trend with price trading above both his EMAs, indicating strength on the upside. A breakout in the Relative Strength Index (RSI) supports upward movement, confirming the strength of the current trend and hinting at the possibility of further price increases. Volume after the breakout is high, suggesting demand for safety.

Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerages and not of Mint. Investors are encouraged to check with certified professionals before making any investment decisions. o Re