Day Trading Guide for Friday, June 9: Six Stock Recommendations

On Thursday, the Indian Trading market witnessed a decline, breaking its four-day rally, due to weak global market sentiments. The Nifty 50 index closed 91 points lower at 18,634, while the BSE Sensex finished 294 points lower at 62,848. The Bank Nifty index also saw a decline of 280 points, settling at 43,995. The mid-cap index dropped by 0.87%, while the small-cap index corrected by 0.47%.

Read More: Enhancing Risk Management on MT4: Trailing Stop Loss Orders and Beyond

Day Trading Guide for Friday

Outlook for Nifty:

Nagaraj Shetti, a Technical Research Analyst at HDFC Securities, stated that the Nifty has been following a bullish pattern with higher tops and bottoms on the daily chart. Thursday’s swing high can be considered a new higher top, and further weakness is expected in the short term, which could form a higher bottom. The Nifty is likely to find support around the 18,560-18,450 levels, where an ascending trend line, 10-day, and 20-day exponential moving averages (EMA) converge.

Nifty Call Put Ratio:

According to Ashwin Ramani, a Derivatives & Technical Analyst at SAMCO Securities, the maximum call and put open interest for Nifty is at the 18,700 strikes for the 15th June expiry. Traders should monitor the options activity at the 18,700 strikes for intraday cues on Nifty’s direction. The downside support for Nifty is placed at 18,600. As for Bank Nifty, it faces resistance at 44,500 and has support at 43,700 levels.

Stocks to Watch Today:

Intraday traders will focus on dividend-paying stocks as the Q4 results season concludes. Several stocks will trade ex-dividend, including Voltas, Indian Hotels Company, HDFC AMC, NFL, and Asian Paints. Additionally, Tips Films, Cartrade Tech Limited, Anmol India, and BCL Industries will be in the spotlight due to bulk deals executed on Thursday.

Intraday Trading Tips for Friday:

Trading market experts Sumeet Bagadia, Anuj Gupta, and Ganesh Dongre have recommended six stocks to consider for intraday trading.

Sumeet Bagadia’s Stock Recommendations:

  1. ONGC: Buy at ₹156.10 with a stop loss of ₹151 and a target of ₹164.
  2. Ashok Leyland: Buy at ₹153 with a stop loss of ₹148 and a target of ₹162.

Anuj Gupta’s Stock Recommendations:

  1. South Indian Bank: Buy at the current market price with a target of ₹21 and a stop loss of ₹16.50.
  2. NTPC: Buy at the current market price with a target of ₹190 and a stop loss of ₹174.

Ganesh Dong re’s Stock Recommendations:

  1. Larsen & Toubro (LT): Buy at ₹2,340 with a target of ₹2,400 and a stop loss of ₹2,300.
  2. Reliance Industries Ltd (RIL): Buy at ₹2,500 with a target of ₹2,550 and a stop loss of ₹2,470.
Day Trading Guide for Friday

Note: These recommendations are provided by individual experts, and traders should exercise caution and perform their own analysis before making any investment decisions.

In conclusion, the Indian trading market experienced a decline influenced by weak global market sentiments. Traders are advised to monitor support levels and consider the recommended stocks for potential intraday opportunities.


Comments

Post a Comment

Popular posts from this blog

Achieve a Youthful Look with Radio Frequency Skin Tightening and Face/Neck Contouring in Vienna

Image
Hey there, folks of Vienna! Do you want to achieve a youthful look without going under the knife? Well, have no fear, because radio frequency skin tightening and face/neck contouring may be the solution you've been looking for! Radio frequency skin tightening uses energy waves to stimulate collagen production in your skin, resulting in a tighter, firmer appearance. And who doesn't want to turn back the clock on their skin? Face and neck contouring, on the other hand, focuses on sculpting the jawline and cheekbones for a more defined look. It's like contouring with makeup, but without all the hassle! Not only do these procedures provide a more youthful appearance, but they also have a number of other benefits. They can improve the texture and tone of your skin, reduce the appearance of fine lines and wrinkles, and even reduce the appearance of scars and stretch marks. Plus, since they're non-invasive, there's no need to worry about surgery or downtime. But where...
Read more

Maximise Your Tax Returns with Geelong's Expert Tax Planning and Minimization Services

Image
Tax return service Geelong, tax planning & minimization strategy Are you tired of stressing over your tax returns every year? Do you wish there was a way to maximise your returns and minimise your taxes? Look no further than Geelong's expert tax planning and minimization services. Our tax return service in Geelong is designed to take the hassle out of tax time. We understand that taxes can be confusing and overwhelming, which is why we offer personalised assistance to help you get the most out of your returns. Our team of tax experts will work with you to develop a customised tax planning and minimization strategy that fits your unique financial situation. We'll help you identify areas where you can save money on your taxes, while also ensuring that you're taking advantage of all the deductions and credits available to you. And with our years of experience and expertise, you can trust that we'll help you navigate even the most complex tax laws and regulat...
Read more

What is a Med Spa? What Luxurious Services They Offer in Midlothian Virginia

Image
If you are looking to relax and rejuvenate while receiving top-quality beauty treatments, a med spa is a perfect place to go. Med spas offer a range of luxurious services that can help you look and feel your best. In Midlothian, Virginia, you'll find some of the best med spa services in the area, catering to all your beauty needs. From hair extensions to massage therapy, they have it all. So, what is a med spa? Simply put, it's a hybrid between a medical clinic and a day spa. At a med spa, you can enjoy the relaxing atmosphere of a day spa while also receiving medical-grade treatments such as Botox injections or laser hair removal. It's the perfect place to pamper yourself while also taking care of your body. When it comes to Med Spa Services In Midlothian Virginia , you'll be spoilt for choice. From facials to body wraps, they offer a wide range of services that cater to all skin types and needs. One of the most popular services offered at med spas is hair extensions...
Read more