Day trading guide for stock market today: Five stocks to buy or sell on Monday — 13th November

Protean IPO listing date today. GMP, experts signal a ‘positive’ start of the shares

“Indian Indices rose in the Muhurat trading session in line with most such sessions in the past, positive global cues also helped. After a stellar year for broader equity markets, investors are looking forward to markets still rising although not at the same pace. They are still concerned about the main risks including the outcome of the elections, inflation and interest rate trends and geopolitical events. However, equities are still a preferred choice d ‘investors given the favorable macros and micros and the beneficial outlook of global institutions/brokers. Having said that investors need to review asset allocation, review the portfolio regularly, and the quality of the stocks in their portfolio rise,” said Dhiraj Relli, MD & CEO at HDFC Securities.

Commenting on the outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “A decisive upside breakout above 19,500 levels could open renewed buying enthusiasm towards 19,800 and above in the short term. 19300 levels.”

Buy or sell: Vaishali Parekh recommends three stocks to buy today – November 13

Regarding Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, “Bank Nifty has also been attending a range-bound session for quite some time hovering between 43,950 and 43,500 levels and a breach would be decisive required above the important 200 MA period. zone level 44,000 to establish some conviction. The index would have the important support zone of 43,200 of the significant period of 200 MA which must sustain and expect a further increase from the current levels.”

Stocks to Watch: Protean eGov Tech, CIL, LIC, Eicher Motors, ONGC, Biocon

On stock market outlook today, Motilal Oswal, Group MD & CEO at Motilal Oswal said, “Hindu Samvat 2080 is likely to start on a positive note with strong earnings and a healthy economic outlook. Samvat 2079 ended with Nifty reaching around 10 %. , despite the economic concerns and global geopolitical concerns Going into Samvat 2080, we believe that India would continue to shine and we expect markets to maintain their excellent performance. We hope that sectors like BFSI will contribute , Consumer Discretionary, Construction & Real Estate and High Growth Niche Sectors driving the overall market trend.”

Day trading stocks for today

On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi and Mitesh Karwa, Research Analyst at Bonanza Punanza — recommended five stocks to buy or sell today.

Sumeet Bagadia intraday stocks for today

1] Axis Bank: Buy at ₹1029, goal ₹1070, stop loss ₹1005.

Axis Bank share price seems to be showing positive signs in its recent price movements. The resilience of the stock is evident as it pulls back from a support level ₹1005 which is also close to its 20 Day EMA levels, indicating investor interest at that point. Currently, Axis Bank share is trading at approx ₹1029.20, indicating a recovery from the aforementioned support level. The fact that the stock is trading above its critical moving average reinforces the notion that it is strong in current market conditions. The stock has also created a bullish engulfing pattern on a daily chart that shows strength. A slight obstruction can be observed at the ₹Level 1036, which presents less resistance. Once Axis Bank share manages to overcome this resistance, it is expected to continue to rise.

Based on the above analysis we expect Axis Bank share price to move higher towards 1070 and hence we recommend to buy Axis Bank share at CMP of ₹1029.20 with SL of ₹1005.

2] NMDC: Buy at ₹168, goal ₹176.50, stop loss ₹163.

NMDC share price is currently trading at 168, has grown significantly since September 2023, showing a continuous upward trajectory marked with a well-defined trend. Currently the stock has formed the triangle pattern up ₹168. Maintaining these levels could pave the way for substantial upside potential.

An encouraging sign of a stock’s strength is its ability to close above key short-, medium- and long-term moving averages, including the 20-day, 50-day, 100-day and 200-day EMAs. This not only shows a strong trend but also highlights the resilience of NMDC Industries in the market.

Stock of the day by Ganesh Dongre

3] City Union Bank or CUB: Buy at ₹142, goal ₹150, stop loss ₹138.

In the short-term trend, the stock has a bullish reversal pattern, a technical restriction may be possible so far. ₹150. So, which is the level of support ₹138 this stock can bounce towards the ₹150 levels in the short term. Therefore, the trader can go far with a stop loss ₹138 for the target price of ₹150.

Mitesh Karwa buys or sells stocks

4]Quess Corp: Buy at ₹466 to ₹467, goal ₹487, stop loss ₹456.

The QUESS share price is seen breaking out of a cup and handling a pattern formation on the daily time frame and approaching green with a bullish candlestick which is why a buy recommendation is initiated for targets up to now. ₹487. It is possible to start buying a float in the range of ₹466 to ₹467 with stopfire below ₹456 on a daily closing basis.

5]Pipe of Apollo: Buy at ₹696 to ₹697, goal ₹716, stop loss ₹685.

Apollo Pipe share price is seen breaking out of a pattern formation with a bullish candlestick on the daily time frame indicating strong buying suggested for targets up to Rs. 716. A buy trade can be initiated between the range of 696-697 with a stop of 685 on a daily close basis.

Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 13 November 2023, 08:48 AM IST