Day Trading Guide for Friday: 6 Stocks to Buy or Sell Today – May 20

Day Trading Guide for Friday: Indian stock markets ended the session sharply lower on Thursday after opening a gap. The Nifty 50 index fell 430 points to close at 15,809 levels while the BSE Sensex fell 1416 points to close at 52,792 levels. The Nifty Bank Index fell 848 points to close at 33,315. According to stock market experts, the current market pattern suggests a weak outlook for the upcoming sessions on Dalal Street.

The day trading guide for today’s stock market

Talk about day trading strategy for Nifty today“Nifty reversed its recent rally and has now closed near recent lows of 15735. The 20-period MA on the chart,” said Subash Gangadharan, Senior Technical Analyst and Derivatives at HDFC Securities. The 15-minutes are now below the 50-period MA indicating a negative moving averages crossover.A fresh move down is likely on a breakdown of 15735 support.Although we remain open to the downside. rally in the near term, we expect the downtrend to continue. The bears will gain more control as the recent intermediate low of 15735 has been broken.”

Backing the ‘Sell On Rise’ strategy for traders, said Ruchit Jain, Research Lead at, “We’ve been advocating a ‘Sell on the Rise’ strategy in the markets and up until now. on any signs of reversal one should go ahead with this Approach for short term trading Thursday’s spread will now be considered as resistance and we will soon see only the most recent low break number is 15735. Below the previous low, the next levels to watch out for will be around 15,555, followed by 15.325. Traders are advised to continue trading with a cautious approach. and look for selling opportunities from a trading perspective.”

Stocks traded during the day

Shares of the day for today, stock market expert – Sumeet Bagadia, Managing Director at Choice Broking; Mehul Kothari, AVP – Technical Research; Rohit Singre, AVP – Research and Avinash Gorakshkar, Head of Profitmart Securities Research – recommend 6 stocks to buy or sell today.

Sumeet Bagadia trading shares to buy today

1]Voltas: Sold at CMP, target 910 to 900, stop loss 975

2]Royal Orchid Hotels Limited or ROHLTD: Buy at CMP, target 140 to 145, stop loss 125

Mehul Kothari Intraday Stocks For Today

3]ITC: Buy around 273, target 292, stop loss 262

4]IOC: Buy around 115, target 126, stop loss 110

Rohit Single shares of the day

5]MindTree: Sell at CMP, target 2750, stop loss 2900

Avinash Gorakshkar’s Source of the Day

6]Ambuja Cements: Buy at CMP, target 380, stop loss 355.

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

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