Wednesday’s Daily Trading Guide: 6 Stocks to Buy or Sell Today – August 17

Today’s trading guide for Wednesday: Following bulls’ interest in broader markets, Indian equities ended higher for the sixth straight session on Tuesday. The Nifty 50 index closed 127 points north at 17,825 levels while the BSE Sensex jumped 379 points and closed at 59,842 points. The Nifty Bank Index finished 197 points higher at 39,239 levels. NSE volumes were above recent averages.

According to market experts, a small positive candle has formed with a rising open on the daily chart. Many upside opening gaps remain unfilled during the recent past’s upward journey and this signals continued upward movement in the market. The Nifty is now placed on the edge of significant descending trendline overhead resistance (falling trendline connected to the important lower highs) around 17,850-17,900 levels. This is a positive indication and suggests that the hurdle may soon be lifted to the upside.

Daily trading guide for the stock market today

“Nifty is now placed on the edge of crucial resistance at the 17,900-18,000 levels and a sustained rise above this hurdle could open the next upside target of around 18,500-18,600 levels in the short term. immediate support is placed at 17,650 levels,” said Nagaraj Shetti, technical research analyst at HDFC Securities.

Speaking on the data from Nifty Call Put, Shilpa Rout, Chief Derivatives Analyst at Prabhudas Lilladher, said: “NIFTY FUT is making higher highs and higher lows daily, is a clear indication of the race continuing. BULL at the moment The options chain for the weekly expiry suggests that the 17800 straddle plays the most crucial role with very aggressive additions on the PE side – new contracts over 89,000 contracts and CE writers placing their maximum exposure with 1.88 lakh contracts in total.”

“The BANKNIFTY FUT options chain reflects that PE Writers are active at 39,000 PEs with over 88,000 total contracts and 39,200 being the most aggressive strike – 45,000 freshly added contracts. aggressive positions at 39,500 CE/40,000 CE on one lakh contracts on each, with very crowded resistance building up in the 39300/39400 areas,” Shilpa Rout said.

Day trading stocks

Unveiling today’s intraday actions, stock market experts – Anuj Gupta, Vice President – Research at IIFL Securities; Mehul Kothari, AVP – Technical Research at Anand Rathi and Vaishali Parekh, VP – Technical Research at Prabhudas Lilladher – recommended 6 stocks to buy today.

Anuj Gupta Intraday Stocks for Today

1]PC Jeweler: Buy from CMP, objective 72, stop loss 57

2]ITC: buy at CMP, objective 325, stop loss 298

Mehul Kothari stocks to buy today

3]Whirlpool: Shop Around 1790, target 1850, stop-loss 1755

4]Canara Bank: Buy around 232 target 244, stop loss 225

Vaishali Parekh shares to buy today

5]TVS engine: shop around 979 target 1010, stop loss 962

6]Godrej Industries: Shop Around 483 target 503, stop loss 474.

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

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