Day Trading Stocks: 10 Best Shares To Buy Or Sell today

Domestic equity benchmarks Sensex closed with 0.33% and Nifty ended the day with 0.25% during Wednesday's session. Sectorial-specific actions were seen in the market. The banking and Financial services index was the top leader of the day wherein Nifty energy plunged the most by 0.57%.

Market Outlook Today

On the outlook for Nifty, VLA Ambala - SEBI RA, Stock Market Today On the higher time Pattern is bearish and we are in a corrective move. So, we should be very watchful before marking any directional view. If trading in the NIFTY index it's better to go with hedging. Some sectors are being very bullish whereas others are still under pressure. It is a mixed trend as of now. Nifty is trading near to its 20-day EMA and above its 50-day EMA. The next big move will be after this range. We can see nifty to trade tomorrow in the 19628 to 19210 range.

On the outlook for Bank Nifty, VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) said Bank Nifty was underperforming compared to Nifty 50. Today it rallied over 1% in intraday. Major support will be at the Intraday Low and resistance at 44840.

Global Market Outlook

Presently, there are significant global challenges that are restraining advances in the domestic market. These include the escalation in US bond yields, the strengthening of the US dollar compared to other currencies, the possibility of interest rate hikes by the US Federal Reserve, and the struggles faced by China's economy, said VLA Ambala.

The US 10-year yield is currently at its highest point in 16 years, and the 2-year yield is at %. Furthermore, the dollar index has surpassed 103. Despite these conditions, the valuation of Indian equities remains resilient and is being upheld by a continuous inflow of funds, as pointed out by analysts, said VLA Ambala.

VLA Ambala remarked, "The surged bond yields and apprehensions regarding potential US interest rate hikes are causing foreign institutional investors to pull back from the domestic market but today FII data is net buying after sell-off for four consecutive days. This is contributing to the market's instability."

F&O Ban List

BHEL, SUNTV, MANAPPURAM, INDIACEM, HINDCOPPER, METROPOLIS, GNFC, PNB, DELTACORP, ESCORTS, & Indiabulls Housing Finance are the 11 stocks that are a part of the F&O ban list by the stock exchange for Thursday.

The securities have been put on ban under the F&O segment as they have crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Day trading stocks for today

On intraday stocks for today, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended 10 best stocks to buy today.

D.B Corp Limited

Buy DBCORP at ₹255 with a stoploss of ₹220 at a target price of ₹280 to 350. ''In the short-term trend is getting ready for fresh highs and risk is limited in it.

MOIL

Looking good to buy above in 215 to 218 range and have target expectations 230 to 250. ''Price is taking support near to its 20 days EMA and a new high.

Tata Power

Buy Tata Power from 240 to 245 range and keep targets expectations at 250 to 260 at a stoploss of ₹231.50. Tata Power looking really strong on chart and it could deliver good gains in coming days too.

Federal Bank

Buy Federal Bank at 138 to 142 range and keep targets expectation in between 147 to 160.

TNPL

Buy TNPL at 255 to 260 with a stoploss of ₹247 and for targets of 280 to 300. The stock has witnessed a breakout of its previous resistance which was near to 258. Rally may continue in it.

HAL

Buy HAL above 4000 and hold it for 4250 to 500o in very short term. Keep stop loss in consideration at with a stoploss of ₹3700. HAL Price is continuing its higher highs and higher lows formation and has given a breakout of a triangle formation with strong volume'', VLA Ambala.

SBIN

It is taking support at its 200 days EMA and with small risk on you bet on it. Buy SBI above 270/275 range and keep target expectation 600 to 615. Place strict Stop loss at 551. Its trying to build a bottom near to its previous support area said VLA Ambala.

HDFCAMC

It is taking support at its 20 days EMA at daily timeframe and now its looking good to buy at 2500/2530 for target 2600 to 2630 with stop loss at 2440.

GOODLUCK

It is trading at ATH (all-time high but still very bullish and if you manage a risk of almost 10% then think about entering it. Buy GOODLUCK at 590/595 and expat target ranging from 620 to 680 with stop loss at 540.

RBLBANK

Buy RBLBANK near 230 and hold it for target ranging from 240 to 253. Keep RBLBANK stop loss at 215.

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.