Today’s guide to day trading: 6 stocks to buy or sell today — October 28

According to stock market experts, Nifty may now attempt to test recent highs of 17,812-17,919 levels. Once these levels are cleared, the Nifty looks set to advance towards the previous intermediate highs of 18,096. The index could experience a slight correction in the very near term. It is important for the Nifty to hold above the immediate supports of 17,607-17,505 for the uptrend to continue.

Day Trading Strategies for the Stock Market Today

Speaking on the technical outlook for the Nifty 50 Index, Subash Gangadharan, Principal Technical and Derivative Analyst at HDFC Securities, said: "While the Nifty remains in a short-term uptrend and looks poised to move higher previous intermediates of 18,096 levels. But, it is important that in case of slight corrections, the index holds above the immediate supports of 17,607-17,505 for the uptrend to continue."

Regarding the intraday trading tips you need to know, Ruchit Jain, Lead Research at 5paisa.com, said: "Over the past three trading sessions, the Nifty has been trading in the range of 17600 to 17800, but the crucial support is intact with the market span positive The dollar index has also corrected over the past couple of sessions and is back below the 110 level which is positive for equity markets The RSI oscillator on the daily and hourly chart indicates positive momentum.

Revealing the day trading strategy, Ruchit Jain of 5paisa.com said: "Until the Nifty 50 index keeps the support intact, or until there is a change in the data, traders should continue to trade with a positive bias and look for stock-specific buying opportunities.

Nifty call put option data

On the Nifty call put option ratio, Shilpa Rout, chief derivatives analyst at Prabhudas Lilladher, said: "The shrewd weekly expiry options channel sees PE writers actively adding their positions during from various strikes over 55,000 contracts, but the highest new exposure seen at 17,700 strikes - over 40,000 contracts CE writers are standing at levels of 18,400 CE - over 80,000 contracts, with high additions of over 70,000 contracts as well PCR_OI at 17,700 being just below 1, it is important to watch the direction ahead.

Bank Nifty Call Put Options Data

"Bank Nifty options chain on a weekly basis, reflects on PE writers building positions at 40,000 strikes - total over 40,000 contracts, CE writers adding exposure at 41,500 strikes, followed by 43,000 strikes - new additions of over 20,000 contracts each, which reflects the immediate range between 40,000 and 41,500 areas for the index, with stretch targets of 43,000," said Prabhudas Lilladher's Shilpa Rout.

Day trading stocks to buy today

On today's intraday stocks, equity market experts - Sumeet Bagadia, Executive Director of Choice Broking, Anuj Gupta, VP - Research at IIFL Securities, Ravi Singhal, CEO of GCL Securities and Manoj Dalmia, Founder and director of Proficient Equities - recommended 6 stocks to buy or sell today.

Sumeet Bagadia Intraday Stocks for Today

1]Sun Pharma: Buy from CMP, objective ₹1030 and ₹1050, stop loss ₹990

2]Tata Steel: Buy from CMP, objective ₹108-110, stop-loss ₹100

Anuj Gupta shares to buy today

3]Coal India: Buy from CMP, objective ₹265, stop loss ₹225

4]BEL: Buy from CMP, objective ₹115, stop loss ₹102

Ravi Singhal's stock of the day

5]DLF: Buy at ₹382 target ₹394 and ₹400, stop loss ₹377

Manoj Dalmia shares to buy today

6]Adani Ports: Buy on ₹832 target ₹837, stop loss ₹828.50.

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

More less