Today’s guide to day trading: 6 stocks to buy or sell on Friday, November 18

According to market experts, a small negative candle has formed on the daily chart with a long upper shadow. Technically, this pattern indicates an emergence of minor weakness from the highs in the middle of a narrow range move. Nifty is now at the lower end of the range for the past four sessions.

Daily trading guide for the stock market today

Regarding intraday trading advice, Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said: "Positive chart patterns like higher highs and lower lows continued on the daily chart and further consolidation or weakness at From here is likely to be a higher low in the streak.At the bottom, the Nifty is likely to find support at the 10-day EMA around 18,250 levels and we expect the market to show a rebound to the upside from short-term lows."

"Consolidation continues for our markets as the index has not witnessed broader market support in the upward move. The mid cap index is trading well below previous highs while the The breadth of the market is not strong enough to drive broad market momentum. Although some large cap stocks have been leading the indices and therefore this recent consolidation in recent days should only be seen as a time correction in an uptrend," said Ruchit Jain, Lead Research at 5paisa.com.

Revealing the intraday trading strategy for today, Ruchit Jain from 5paisa.com said: "Traders are advised to continue trading with a positive bias, but be very selective in picking time-specific opportunities. stocks and avoid fishing underperforming names to the bottom".

Nifty call put option data

On the Nifty call options ratio, Shilpa Rout, Principal Derivatives Analyst at Prabhudas Lilladher, said: "The Nifty series expiry options chain sees PE writers actively adding their positions at 18000PE - over 50 lakh OI shares, followed by 18300PE - total 49 lakh shares CE authors exposure sits at 19000CE - over 90 lakh OI shares, followed by 19500CE PCR_OI at 18300 is comfortably above 1 , is the crucial immediate support zone for the index." Prabhudas Lilladher said the market's attempts to defend the bullish momentum look promising, although some sideways consolidation may be seen in some upcoming sessions.

Bank Nifty Call Put Options Data

"Bank Nifty options chain on a weekly basis reflects on PE writers standing at 42000 strikes - in total 17 lakh OI shares and new exposure of 6 lakh OI shares. CE writers congestion stands at 42500 and 43000 strikes - more than 17 lakh shares each as well, reflecting a narrow range between 42,000 and 43,000 areas on an immediate basis," Shilpa Rout said.

Day trading stocks to buy today

Sharing Intraday Stocks for Today, Stock Market Experts - Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President - Research at IIFL Securities and Manoj Dalmia, Founder and Director at Proficient Equities - recommended six stocks to buy today.

Sumeet Bagadia Intraday Stocks for Today

1]Tata consumer products: buy from CMP, objective ₹800 and ₹810, stop loss ₹772

2]ICICI Bank: Momentum buy at CMP, target ₹940 to ₹950, stop loss ₹900

Anuj Gupta's day trading

3]Medanta: Buy from CMP, target ₹480, stop loss ₹385

4]Bikaji Foods: Buy from CMP, target ₹365 stop loss ₹305

Manoj Dalmia shares to buy today

5]Tata Steel: Buy on ₹106.75 target ₹107.80, stop-loss ₹106.55

6]Adani Ports: Buy on ₹897 target ₹906, stop loss ₹892.85.

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

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