Thursday’s Daily Trading Guide: 4 Stocks to Buy or Sell Today – July 28

Today’s trading guide for Thursday: Ahead of Wednesday’s US Fed meeting, major benchmarks Sensex and Nifty broke their two-day losing streak. The Nifty 50 index ended up 157 points at 16,641 while BSE Sensex climbed 547 points and ended at 55,816 levels. Bank Nifty rose 375 points north and closed at 36,783 levels.

According to market experts, the positive streak of higher highs and lower lows is intact on the daily chart and Wednesday’s low at 16,438 could now be seen as a new streak low. Now, we can expect Nifty to move higher and challenge the recent high of 16,752 shortly.

Daily trading guide for the stock market today

“Wednesday’s strong rally opens up a possibility of an upside reversal after the formation of higher lows. Therefore, Nifty can be expected to move towards the crucial resistance area around 16,800-16,850 short-term levels Immediate support for NSE Nifty is placed at 16,580 levels,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

Unveiling his day trading strategy for the stock market today, Ruchit Jain, Head of Research at 5paisa.com, said: “Traders are advised to look for stock-specific opportunities from a short-term trading perspective. and trade with proper risk management.”

Clever insights from SGX

“The US Fed raised interest rates by 75 basis points and global markets, including the Indian stock market, are expected to react to this move overnight by the US central bank. In early morning trading on Thursday, SGX Nifty is trading more than 100 points higher than its close on Wednesday, indicating a higher open for the Indian stock market,” said Anuj Gupta, VP Research. at IIFL Securities.

Expert IIFL Securities added that immediate support for SGX Nifty today is placed at 16,600 while it has a major support zone at around 16,450 levels. He said the index faces an immediate hurdle at 16,900 while its main hurdle is at 17,100 levels.

Day trading stocks

Sharing the intraday stocks for today, stock market experts – Anuj Gupta of IIFL Securities and Mehul Kothari, AVP – Technical Research at Anand Rathi – recommended 4 stocks to buy today.

Anuj Gupta Intraday Stocks for Today

1]Ashok Leyland: Buy from CMP, target 165, stop loss 132

2]ITC: Buy from CMP, objective 322, stop loss 290

Mehul Kothari’s day trading stocks to buy today

3]TCS: Shop Around 3188 target 3250, stop-loss 3144

4]Bata India: Shop Around 1829 target 1880, stop-loss 1800.

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