Guide to Friday Day Trading: 6 Stocks to Buy or Sell Today — August 5

Daily Trading Guide: After a very volatile session on the weekly F&O expiry, the Indian stock market ended flat on Thursday. The Nifty 50 index ended down 6 points at 17,382 while BSE Sensex lost 51 points and closed at 58,298 levels. The Bank Nifty index lost 233 points and closed at 37,755 levels. Volumes on the NSE were in line with the recent average. Among the sectors, the metals, IT and healthcare indices rose the most, while the telecommunications and real estate indices fell the most. Broad equity indices have fared somewhat better than the Nifty, although the anticipated rate of decline is well below 1:1.

According to market experts, a small negative candle has formed on the daily chart with a long lower shadow. Technically, this pattern indicates a bearish hanging type candle pattern formation. But, having formed this pattern in the middle of a range move, the predictive value of this pattern might be less.

Daily trading guide for the stock market today

“Nifty’s short-term uptrend status remains intact and there is no indication of a sharp reversal pattern towards the highs. Consolidation with high volatility is likely to continue for the next 1-2 sessions. Immediate support for NSE Nifty is placed at 17,200 and strong resistance to watch at the 17,500 levels. A decisive move above the hurdle could take Nifty towards the next upside trajectory of 17,800 levels,” Nagaraj said. Shetti, technical research analyst at HDFC Securities.

Advising cautious stock selection, Ruchit Jain, Head of Research at, said: “Given momentum readings on the daily chart are in an overbought zone, traders should look to trim positions A break of the 17,160 low will then confirm the change in trend.Additionally, over the past two sessions, the upside movement has been concentrated in fewer stocks and sectors, which is a sign of divergence .Traders should therefore be very precise in picking stocks at current levels and trading with proper risk management.

On SGX Nifty’s morning signals today, Anuj Gupta, VP – Research at IIFL Securities, said: “The overall trend for SGX Nifty is positive and it is appropriate to maintain the strategy of buying on the dips during The immediate support for SGX Nifty is placed at 17,270 points while the strong support zone for the index is around 17,100 levels. 17,520 while the strong hurdle for the index is placed at 17,680.

Day trading stocks

Sharing the intraday stocks for today, equity market analysts – Sumeet Bagadia, executive director at Choice Broking; Mehul Kothari, AVP – Technical Research at Anand Rathi and Vaishali Parekh, VP – Technical Research at Prabhudas Lilladher – recommended 6 stocks to buy today.

Sumeet Bagadia Intraday Stocks for Today

1]Cipla: Buy from CMP, objective 1075 to 1090, stop loss 1015

2]Marico: Buy from CMP, objective 540 to 550, stop loss 520

Mehul Kothari stocks to buy today

3]Divi’s Laboratories: Buy around 3890 target 4150, stop loss 3810

4]Laurus Labs: buy around 544 target 565, stop loss 530

Vaishali Parekh daily trading stocks to buy today

5]Voltas: Shop Around 1000 target 1,050, stop-loss 975

6]Wipro: Shop Around 435 target 460, stop loss 420.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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Garland K. Long