Today’s stock market day trading guide: 6 stocks to buy and sell on Saturday (January 20)

Buy and sell stocks today: Even though today is Saturday, trading at Dalal Street will take place from 9am to 3:30pm. The decision was taken ahead of the Ram temple’s ‘Pran Pratishtha’ ceremony in Ayodhya on Monday, January 22. Therefore, Indian stock markets will remain closed next Sunday (January 21, 2024) and Monday (January 22, 2024).

On Friday, major benchmark indexes of the Indian stock market registered a decent recovery on the back of positive global sentiment. After three consecutive losing sessions, the Nifty 50 index rose 160 points to end at 21,622 levels, while the BSE Sensex rose 496 points to end at 71,683 levels. However, the Bank Nifty index ended marginally lower at the 45,701 level.

“Nifty ended its three-day losing streak as global markets took a lull. The index rose 160 points (+0.8%) to end at 21622 level. All sectors ended higher: Oil & Gas, Metals , and financials,” said Siddhartha Khemka, head of retail research at Motilal Oswal.

Today’s stock market day trading guide

Commenting on today’s outlook for the Nifty 50, Nagaraj Shetty, Senior Technical Research Analyst at HDFC Securities, said, “Friday’s upward rebound may encourage bulls to make a comeback.However, the downside gap is sharp. “Wednesday continues to open at 21970, making a sell likely on the market rally in the short term. Immediate support is at the 21550 level.”

Commenting on the outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst, Samco Securities said, “Bank Nifty started with a gap up, but the momentum quickly faded and Bank Nifty went down by 12 points. It fell to close at 45,701. Heavy call writing (bearish entry) was observed at the 46,200 strike of the index, with bears further consolidating their positions. The index experienced strong put writing (bullish entry) at the 45,500 strike. If the put writers break out from the 45,500 strike, Bank Nifty could extend the decline further to the 45,000 level.”

Commenting on today’s stock market triggers, Siddhartha Khemka of Motilal Oswal said, “Investors will be tracking the results of major stocks in major indexes such as Reliance, HUL, ICCI Bank, Kotak Bank etc. which will be announced over the weekend. “The market will likely refer to the following indicators.” Earnings season will accelerate next week, with many major large companies and mid-cap stocks reporting their results, with global factors such as the Bank of Japan and European Central Bank meetings and economic data from the US, China and Japan in the spotlight. right. Domestic stocks will trade in a broader range with a positive bias. ”

Nifty call put option data

Chinmay Barbu, Head of Technical and Derivatives Research at Profit Mart Securities, said of Nifty’s call/put option data, “The main total call open interest is seen at 21700, 21800, and 22000 strikes; They were 116,322, 124,988 and 148,510.” His one of the major call open interest additions was seen at 21,700 and 21,800 strikes, which added open interest of 26,308 and 25,305 contracts, respectively. ”, adding, “Major total put open interest was seen at 21,600 strikes and 21,500 strikes, for total open interest of 106,317 and 136,048” contracts respectively. One of the major put open interest additions was seen at the 21600 and 21500 strikes, which added 72912 and 57960 contracts, while the 21100 strike reduced his open interest by 13388 contracts. ”

Bank Nifty Call Put Option Data

Regarding Bank Nifty’s call-put option data, Barb further added, “The major call open interest was 46000 and 46500 strikes and the total open interest was 166788 and 157438 contracts respectively.” His one of the major call open interest additions was seen at 46,100 and 46,500 strikes, with 58,357 contracts and he added open interest of 54,209 contracts. ”, adding, “Major total put open interest was seen at 45,500 and 45,000 strikes, with total open interest of 86,758 contracts and 107,831 contracts, respectively. I was seen at.”

Today’s day trading stocks

Stock market expert Ganesh Dongre, Senior Manager, Technical Research, Anand Rati, shares his thoughts on stocks to buy today. Shiju Koothupalakkal, technical analyst at Prabhudas Lilladher and Virat Jagad, technical analyst at Bonanza Portfolio, recommended six stocks to buy or sell on Saturday.

Ganesh Donbgre’s Intraday Stocks Today

1]Gail: buy at INR168, target INR172, stop loss INR164.

In the short-term trend, Gale stock is showing a bullish reversal pattern and a contraction could technically be possible until the next period. INR172. Therefore, maintaining the support level INR164 This stock is INR172 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget price is 164 INR172.

2]Tata Steel: buy at INR135, target INR142, stop loss INR130.

In the short-term trend, Tata Steel stock is showing a bullish reversal pattern and a cut could technically be possible till the next deadline. INR142. Therefore, maintaining the support level INR130 This stock is INR142 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget price is 130 INR142.

Stocks purchased by Shiju Koothupalakkal

3]INOX Green: buy at INR137.50, target INR144, stop loss INR134.

After a short correction, the stock regained strength and saw a new round of momentum with bullish candlesticks forming a flag pattern on the daily chart. With the support I received nearby, INRAt the 127 zone, the stock shows a trend reversal that predicts further gains in the next day, and a decisive break above the previous peak level of 150 will trigger a new breakout towards the next target. . INR162 and INR177 is displayed. The RSI has also eased out of the overbought zone and is now well positioned to support our view.

4]Exide Industries: buy at INR327, target INR341, stop loss INR321.

After witnessing a strong rally, the stock took a breather in the vicinity. INRThe 342 zone and a short correction are almost complete, showing a positive candlestick pattern on the daily chart and forming a higher low that takes support nearby. INR309 levels. The RSI shows a trend reversal that suggests buying, and there is significant upside potential, so we can expect further upside.

5]TD Power: buy at INR277.90, target INR292, stop loss INR273.

The stock is showing signs of improvement as it remains above the 50 EMA. INR272 improves the bias and we can expect further gains in future sessions. The RSI is also showing positive signs confirming our view and the chart looks good, allowing us to take long positions towards the target. INRFrom 290 INR292 levels.

Buying and selling shares of Virat Jagad

6] sheet: buy at INRFrom 2195 INR2200, goal INR2270, stop loss INR2141.

Ceat Ltd. has rounded out the bottom on the daily chart, rising volume and breaking out, reflecting growing market confidence, indicating promising technology developments. The Relative Strength Index (RSI) is trending upwards, and the major Exponential Moving Averages (EMAs) are positive, with the 21-day EMA (2440) providing strong support. The bullish signal is confirmed by a positive crossover of the Moving Average Convergence Divergence (MACD) indicator, consistent with the overall positive momentum. These indicators point to further upside potential with solid support. INR2500 and attractive growth targets INR2800 for Ceat Ltd.

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.