Day Trading Guide: 3 Swing Trading Stocks To Trade On 11th October

On October 10, benchmark indices experienced gains, with Nifty closing around 19,690, thanks to buying activity across various sectors. Nifty Bank also closed near 44,360. Notable gainers on the Nifty included Coal India, Bharti Airtel, Adani Ports, Tata Motors, and Adani Enterprises, while the losers included IndusInd Bank, Cipla, Dr. Reddy's Laboratories, TCS, and Asian Paints.

All sectoral indices ended the day in positive territory, with the realty index gaining 4%. Information Technology, power, auto, metal, and PSU Bank sectors also saw gains of 1-2% each. Both the BSE Midcap and smallcap indices recorded a 1% increase.

Nifty Forecast for Today

Despite weak global cues, the market surprised the bears as dips were consistently bought throughout the day. Bullish movement was seen. The day began with a gap-up opening, and Nifty managed to close above its 20 and 50 EMA (Exponential Moving Averages).

For intraday trading, the support levels for Nifty are identified at 19,610/19,560/19,470. This range presents buying opportunities for those interested in purchasing during pullbacks. However, it's advisable to consider a "sell on rise" strategy if the price starts trading near its day open levels. Potential resistance levels for Nifty50 in intraday trading are 19,760/19,850/19,900, according to V.L.A. Ambala, a SEBI Registered Research Analyst at Stock Market Today (SMT).

Bank Nifty Outlook for Today

The banking sector exhibited a stronger performance than Nifty in the recent trading session, registering a gain of approximately 1.08%. It's anticipated to trade within a range of 1.30% to 2.50% for the week. The intraday opening price will play a pivotal role in the Banking Index. If a breakout occurs above 44,490, it may present fresh buying opportunities.

Currently, the nearest support levels for Nifty Bank stand at 44,170/44,050/43,765. In terms of overall movement, primary resistance levels for intraday trading are at 44,665/44,840/44,920. These levels are most relevant in the case of a flat or minor gap, or a maximum gap of up to 1%, as per V.L.A. Ambala, a SEBI Registered Research Analyst at Stock Market Today (SMT).

These levels are most effective in the case of a flat or marginal gap or max gap opening up to 1% according to V.L.A. Ambala (SEBI Registered Research Analyst) of Stock Market Today (SMT).

Swing and Day trading stocks for today

On intraday and swing stocks for today, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended three stocks to buy today for Intraday and swing trading. 3 trending stocks for today.

City Union Bank

CUB looks good to buy above 135 and has a target expectation of 145/160 with a stop loss of 125.

Hemisphere Properties India

HEMIPROP looks good buy at the 119 range and has a target expectation of 125/130 with a stop loss of 109. ''Price is trading above its important level which could act as a major support point for this.

CRISIL

CRISIL looking good buy in the 4100 range and has a target expectation of 4300 with a stop loss of 3800. ''Price is trading at its important support range which could act as a major support point for this

"All of the recommendations are being provided here based on the price overall movement, previous behaviour and technical analysis"- said VLA Ambala (SEBI Regd. RA).

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.