Day trading guide for stock market today: Six stocks to buy or sell on Tuesday — 16th January

The Indian indices, Sensex and Nifty, extended their record run for the fifth consecutive session on Monday led by a strong rally in IT, energy, pharma and banking stocks. The Sensex surged 759. 49 points, or 1.

05%, to end at 73,327. 94, while the Nifty 50 ended 202. 90 points, or 0.

93%, higher at 22,097. 45. The Bank Nifty index rallied 449 points to close at 48,158.

Broad market indices also supported gains. “The market gained momentum, led by the uptick in the IT index with the growing optimism about increased discretionary spending and strong deal wins. The US bond yield edged lower as market participants bet on the Fed easing cycle, which is expected to start in March.

Investors are likely to take a more measured approach due to the release of Chinese GDP and UK inflation data this week,” said Vinod Nair, Head of Research, Geojit Financial Services. Day trading guide for stock market today On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, “Nifty 50 formed a reasonable positive candle on the daily chart with gap up opening and with lower shadow. Technically, this pattern indicates confirmation of sharp upside breakout of the important hurdle.

If Monday’s opening upside gap remains unfilled at 21,900 levels for the next 2-3 sessions, then that gap could be considered as a bullish runaway gap, which are normally formed in the middle of the sustainable uptrends. The short-term trend of Nifty continues to be positive. The next upside levels to be watched are around 22,200-22,300.

Immediate support is placed at 22,000 levels. ” On the outlook for Bank Nifty today, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said, “The Bank Nifty bulls maintained control as the index successfully surpassed the critical resistance of 48,000 on a closing basis. Market participants are closely watching the upcoming HDFC Bank results, as a positive outcome could fuel additional upside towards the 50,000 mark.

The lower end support for the index is positioned at 47,700, and a breach below this level may dampen the prevailing bullish sentiment. ” On the outlook for the stock market today, Siddhartha Khemka, Head – Retail Research, Ltd. said, “Q3 earning season had a positive start and is further expected to be propelled by the BFSI segment, where lot many heavyweights are likely to post their results this week.

This will support the overall ongoing market momentum and stock-specific action. ” Day trading stocks for today On stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi and Kunal Kamble, Senior Technical Analyst at Bonanza Portfolio — recommended six stocks to buy or sell today. Sumeet Bagadia’s intraday stocks for today Buy at 2,316.

2, Target 2,388, Stop Loss 2,292 Currently stock is trading above all the important moving averages. On daily charts the stock has formed a strong green candle which indicates bullishness in the stock. Now any dip in the stock around 2,305 levels will be a buying opportunity.

A small resistance can be witnessed near 2,325 levels, and once stock crosses the mentioned level Shriram Finance can now further move towards 2,388 levels and higher. According to the aforementioned technical analysis, we advise buying Shriram Finance at CMP of 2,316. 2 for the target of 2,388.

If the stock closes below 2,292, our analysis will be invalid. Buy at 102. 6, Target 107.

8, Stop Loss 98. 7 SJVN daily chart indicates a significant shift in market dynamics, transitioning from a period of slight declines and sideways consolidation to a promising upward movement. The current trading session shows an upward momentum, breaking out of a narrow range pattern on the daily chart.

Any up move above 103 could potentially signal a breakout to the upside. This development aligns with a positive short-term trend, supported by a notable increase in trading volume. A comprehensive evaluation of the SJVN daily chart implies the existence of a broader bullish pattern in the stock price.

This, in turn, presents an appealing long trading opportunity for investors looking to capitalize on the expected upward trajectory. Ganesh Dongre’s stocks to buy today Buy at 736, Target 765, Stop Loss 725 In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till 765 so, holding the support level of 725 this stock can bounce toward the 765 level in the short term, so the trader can go long with a stop loss of 725 for the target price of 765. Buy at 554, Target 570, Stop Loss 545 On the short-term chart, the stock has shown a bullish reversal pattern, so holding the support level of 545.

This stock can bounce toward the 570 level in the short term, so the trader can go long with a stop loss of 545 for the target price of 570. Kunal Kamble’s buy or sell stocks Buy at 2,195 to 2,200, Target 2,270, Stop Loss 2,141 A significant breakout of a Cup and Handle pattern in Mazagon Dock Shipbuilders Ltd has been observed. This pattern often indicates a potential bullish trend.

The burst in volume during the current week suggests increased buying interest at the current price levels, which further reinforces the positive outlook for security. Buy at 409 to 411, Target 430, Stop Loss 400 On a Daily time frame JK Paper Ltd has given a breakout of Rectangle Pattern on the upside, indicating a positive trend in the stock. Buyers have to look more attractive to buy the security above 400 levels.

The Fast (5) EMA trading above the Slow (50) EMA indicates a positive trend with price trading above both the EMA indicates strength on the upside. In addition to this the MACD is showing positive crossover, which confirms the buying interest. The volume after the breakout is high, suggesting demand for security.

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