Day trading guide for stock market today: Six stocks to buy or sell on Tuesday — 21st November

“Global trading markets were mixed after the rally witnessed last week. Domestic index Nifty saw a lackluster session due to profit booking in index heavyweights and closed with a marginal loss of 38 points at 19694 levels. Majority sectors ended in red. Continue Financial weakness. stocks for the second day in a row after RBI tightened norms for consumer credit,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal.

Day trading guide for stock market today

Regarding Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “Nifty’s short-term trend remains range-bound. There is a chance of further consolidation or slight weakness in the short-term before showing upside. bounce from the lows . Immediate support is placed around 19,600 to 19,550 levels.”

Also read: Stocks to Watch: ABB India, Tata Power, RateGain, Tech Mahindra

Regarding the outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, “Bank Nifty has formed a doji candle on the daily chart, indicating uncertainty. The call & put writers went both faced the maximum strike open interest of 43,500 and the latter won the battle by a good margin.The level of 43,800 is a major hurdle for Bank Nifty and the uptrend is likely to continue once it gets well above the same. Bank Nifty closed 1 point higher at 43,585.”

Also read: Buy or sell: Vaishali Parekh recommends three stocks to buy today – November 21

On the outlook for the stock market today, Siddhartha Khemka of Motilal Oswal said, “The overall market is likely to consolidate in a range as the focus is on the US FOMC meeting minutes to be released on Wednesday. Globally, participation could be lower due to Thursday’s Thank You Holiday. Investors would be watching for U.S. existing home sales data to be released on Tuesday.”

Nifty Call Option Details

Speaking on Nifty Call Put Option data, Chinmay Barve, Head of Technical Research and Derivatives at Profitmart Securities said, “Total open interest of large Call was seen at 19800 and 19900 strikes with total open interest of 234196 and 142149 contracts respectively. addition was seen at the 19800 strike which put 82648 contracts in open interest,” adding, “Major total open interest was captured at the 19700 and 19600 strikes with total open interest of 117390 and 114571 respectively. A major open interest addition was seen at 19600 strikes which added 20555 contracts as open interest.”

Bank Details Nifty Call Put Option

Speaking on Bank Nifty Call Option data, Chinmay Barve of Profitmart Securities said, “Total Big Call open interest was seen at 43700 and 44000 strikes with total open interest of 232093 and 221030 contracts respectively. Big Call open interest addition was seen at 43700 strikes. which placed 56050 contracts in open interest,” adding, “Total large open interest was seen at 43500 and 43000 strikes with total open interest of 242254 and 155056 contracts respectively. Addition of Major Put open interest was seen at 43500 strikes which added 111685 contracts. “

Also read: Dividend stocks: ONGC, Sun TV, Coal India, 9 more to trade ex-dividend today

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 Virat Jagad, Technical Analyst at Bonanza Punanza — recommended six stocks to buy or sell today.

Sumeet Bagadia intraday stocks for today

1] Tata Communications: Buy at ₹1723, target ₹1827, stop loss ₹1672.

Tata Communications share which is currently trading at ₹1722.95, recently formed a flag and pole pattern on the daily chart, along with strong trading volume. Over the past week, the stock has consistently found support at the ₹1680 level, indicating significant price stability. Additionally, Tata Communications share is currently trading above Exponential Moving Averages (EMAs), which include the 20-day, 100-day and 200-day EMAs. This underscores its bullish momentum and suggests the possibility of further upward price movement.

The Relative Strength Index (RSI) currently stands at 50.22 and is trending higher, indicating increasing buying momentum. Additionally, a positive transition is seen in the Stochastic Relative Strength Index (Stoch RSI). This combination of technical indicators suggests that Tata Communications share may reach target price ₹1827 soon.

2] Dublin City Health Care: Buy at ₹1641, goal ₹1695, stop loss ₹1607.

Metropolis Healthcare share is currently trading at ₹1641, showing a strong technical posture with its closing values ​​crossing the short, medium and long-term moving averages of 50, 100, and 200 EMA, respectively. The Relative Strength Index (RSI) stands at 66, indicating favorable momentum. Additionally, the Average Directional Index (ADX) is fairly strong at 31, indicating significant trend strength. In particular, the stock has recently achieved a breakout, consolidating above the critical level of ₹1600 showing resilience on the charts.

Ganesh Dongre stocks to buy today

3]Maximum Financial Services Ltd or MFSL: Buy at ₹948, goal ₹970, stop loss ₹930.

In the short-term trend, MFSL share price has bullish reversal pattern, technical reversal could be done. ₹970. So, what is the level of support of ₹930 this stock can bounce towards the ₹970 levels in the short term. Therefore, the trader can go far with a stop loss ₹930 for the target price ₹970.

4]Pharmacy Torrent: Buy at ₹2114, goal ₹2180, stop loss ₹2070.

On the short-term chart, Torrent Pharma share showed a bullish reversal pattern, so the support level of ₹2070. This stock can bounce towards the ₹Level 2180 in the short term. Therefore, the trader can go far with a stop loss ₹2070 for the target price ₹2180.

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Virat Jagad buys or sells stocks

5] Vesuvius India: Buy at ₹3745 to ₹3755, goal ₹3870, stop loss ₹3690.

On the daily chart established Vesuvius India Ltd, a slush market zone between ₹3720 and ₹3740, where buyers are actively accumulating shares, driving the stock above the barriers. Recent positive price action confirms the dominance of buyers, resulting in a breakout of the Head & Shoulders pattern, suggesting further upward movement is possible. Additionally, the stock is currently trading above significant moving averages, supporting the bullish momentum.

6]KPR mill: Buy at ₹830 to ₹831, target ₹900, stop loss ₹800.

The weekly chart shows that the KPR Mill Ltd is in a strong barrier zone between ₹780 and ₹800, where buyers are always buying shares to drive it over the barrier. The recent positive price action confirms the dominance of buyers, leading to a break of a solid bottom formation, indicating the potential for further upward movement. Additionally, the stock is currently trading above key moving averages that support a bullish trend and today’s close is above the previous resistance line underpinning this positive trend.

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. Era

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Updated: 21 November 2023, 09:03 AM IST