Day trading guide for today: 4 stocks to buy or sell today — 12th December


Day trading guide for today: After consolidated trade within a narrow range, Indian stocks finally witnessed selling pressure on Friday session. However, 50-stock index Nifty has given positive return in year-to-date (YTD) time. If Nifty doesn’t give up those gains in upcoming December sessions, the index may end up delivering positive return to its investors on 7th successive year in a row — longest ever streak since Nifty’s inception on 22 April 1996.

According to market experts, Nifty IT index has breached its crucial support while the Banking and the FMCG index is still showing strength and indicating a continuation of the uptrend. They said that selling on weekend session should be seen as profit-booking only.

Day trading guide for stock market today

“In last one week, Nifty has seen some correction from the highs posted on 1st December. If we look at the data, this correction mainly seems because of profit booking where we have seen unwinding of long positions by the FII’s in the index futures segment. Their Long Short Ratio has reduced from about 76 percent to 60 percent in this period. However, we have not seen any short formation and the Nifty index too has not closed below its crucial 20-day EMA support. The RSI oscillator on the Nifty charts has given a negative crossover indicating a corrective phase but the readings on the Bank Nifty index still remains positive although in an overbought zone,” said Ruchit Jain, Lead Research at

“Immediate support for Nifty for this week is placed in the range of 18550-18380 and if this support range is breached, then we could see a price wise corrective phase in the short term towards 18100. On the flipside, if the Nifty manages to hold this support then a pullback move towards 18650 and 18730 could be seen,” said Ruchit Jain of

Day trading stocks to buy today

On intraday stocks for today, share market experts — Ravi Singh, Vice President & Head of Research at Share India and Manoj Dalmia, Founder & Director at Proficient Equities — recommended 4 stocks to buy or sell today.

Ravi Singh’s intraday stocks for today

1] State Bank of India or SBI: Buy at 612, target 622, stop loss 603

2] BPCL: Buy at 338, target 345, stop loss 335

Manoj Dalmia’s buy or sell stocks

3] ONGC: Sell at 139.75, target 137.80, stop loss 140.75

4] HDFC Bank: Buy at 1637, target 1656, stop loss 1630.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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