Today’s stock market day trading guide: 6 stocks to buy and sell on Thursday (January 11)

Stock market today: Indian stock markets extended their gains on Tuesday to end higher after Reliance Industries Ltd (RIL) stock hit an all-time high on Wednesday. The Nifty 50 index rose 73 points to end at 21,618 levels, the BSE Sensex rose 271 points to end at 71,657 levels, while the Bank Nifty index rose 118 points to end at 47,360 levels. Even though the advance/decrease ratio remained positive at 1.10:1, the midcap index’s gain was smaller than that of the Nifty 50 index.

“Nifty made a smart recovery in the last hour and closed 74 points higher at 21619 levels.Sector wise, it was mixed with buying seen in media, IT, metals and consumer durables stocks.Railways. Niche sectors such as stocks rose.” Rising government spending on rail infrastructure has attracted attention, but US inflation data to be released on Thursday will have an impact on interest rate decisions, keeping global investors in the dark. Although alarming, the Indian market is showing strength despite global inflation. There is high volatility,” said Siddhartha Khemka, head of retail research at Motilal Oswal.

Today’s stock market day trading guide

Commenting on the Nifty 50 outlook today, Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities said, “The short-term trend of the Nifty 50 index seems to have reversed after a slight decline in the last two sessions.” Ta. It is expected to retest the upper trajectory around the 21,750-21,850 levels in the next few sessions. Immediate support for Nifty today lies at 21,450 level. ”

Commenting on the outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at Samco Securities, said, “Bank Nifty remained within a range throughout the day and closed at 47,361, up 118 points. “In 2019, we observed put writing (bullish entries).” Banknifty struck at 47,000, leading to an intraday rally in the index from its critical support. After today’s close, support became even stronger at 47,000. Bank Nifty’s maximum call interest (resistance) is set at 47,500 strikes. It will be interesting to see if the bulls (put writers) can unseat the bears (call writers) on Thursday (tomorrow) and move above the 47,500 level. ”

Commenting on the outlook for the stock market today, Siddhartha Khemka of Motilal Oswal said, “Overall Q3 earnings are estimated to remain healthy, so the market is set to trade in a broader range with a positive bias.” “We expect it to consolidate. We expect the technology sector to remain in focus.” IT giants TCS and Infosys are scheduled to announce their third-quarter results on Thursday, and their management’s comments and guidance will set a precedent for other technology companies. ”

FII DII data

In the cash sector, FIIs sold equivalent amounts of Indian stocks. INRDII purchases approximately 1,721.35 million shares worth of shares INR2.08 billion. In the F&O index futures segment, FIIs sold an equivalent amount of Indian equities. INRWhile DII sold 640.83 million shares worth. INR68,356.41 billion.

Also read: Indian stock market: 6 important things that changed the market overnight

Today’s day trading stocks

Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Ganesh Dongre, Senior Technical Research Manager at Anand Rathi, and his Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio, have recommended his 6 stocks to buy or sell today.

Sumeet Bagadia’s Intraday Stocks Today

1] tata motors: buy at INR809, target INR830, stop loss INR790.

Tata Motors stock is currently INR808.95 level. On the daily chart, the stock has formed a strong bullish candlestick, indicating a return to strength in price action. Strong support levels include: INR790 levels. This confluence of supporting factors strengthens stock price stability and resilience.

2]Ritual: buy at INR524.60, target INR555, stop loss INR505.

RITES stock price is currently INR524.60 level.Stock prices rebounded with strong support INR505 level, which is also close to the 20-day EMA level. The stock is currently trading above all important moving averages. On the daily chart, the stock is forming a strong green candlestick, indicating bullishness in the stock.Even if stock prices plummet now, INRThe 515 level presents a buying opportunity.Small resistance seen nearby INR530 level, if the stock price crosses the aforementioned level, RITES can move further towards its goal. INRLevel 555 or higher.

Ganesh Dongre Stocks to Buy Today

3]Bharti Airtel: buy at INR1063, target INR1085, stop loss INR1045.

In the short-term trend, Bharti Airtel’s stock price is showing a bullish reversal pattern and layoffs could technically be possible till the next period. INR1085. Therefore, maintaining the support level: INR1045 This stock is INR1085 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget price is 1045 INR1085.

4]HDFC Bank: buy at INR1658, goal INR1690, stop loss INR1640.

On the short-term chart, HDFC Bank stock shows a bullish reversal pattern and therefore remains at the support level. INR1640. This stock is INRIn the short term, the 1690 level allows traders to go long with a stop loss. INRTarget price is 1640 INR1690.

Buying and selling shares of Drumil Vithlani

5]Rico Automobile Industry: buy at INR94.50~ INR95, target INR101, stop loss INR92.

In daily time frame, Rico Auto Industries has broken out of a symmetrical triangle pattern on the upside, indicating a positive trend in the stock price. Increasing volume indicates that buyers are regaining control. The security has closed strongly near its high, indicating positive price action with positive sentiment. The price is trading above the short-term EMA (20), indicating an uptrend for the security. The RSI is trading in a northerly direction supporting price movements.

6]Kohaku Enterprises: buy at INR3500～ INR3510, target INR3650, stop loss INR3425.

A rectangle pattern breakout has been witnessed in Amber Enterprises stock. A gradual increase in volume indicates that buyers are interested in purchasing the security. The price is trading above the short-term EMA (20), indicating an uptrend for the security. In terms of indicators, a breakout in the Relative Strength Index (RSI) indicates that the security is currently in bullish mode and is trading above the 60 level.

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.