Attention day traders! Today’s market trends in India are signalling a great opportunity to make some profits. Following strong global market cues, key benchmark indices of the Indian stock market have scaled new heights. The Nifty 50 index reached a new peak of 20,961 levels, while the BSE Sensex reached a new life-time high of 69,744. The Bank Nifty index also hit a new high of 47,259. In addition, the small-cap index added 0.18%, and the mid-cap index touched a new peak of 35,245. These positive trends suggest that there are many opportunities for day traders to make some profits. Don’t miss out on this chance to capitalize on the market’s upward momentum!
Good news for traders! The Indian stock market continued its upward trend today, with the Nifty index just 40 points away from the 21k mark. The index closed with gains of 0.4% at 20938 levels. Buying activity was seen in Oil & Gas, FMCG, and IT sectors, while Fertilizers witnessed fresh buying due to the government seeking parliamentary approval to increase fertilizer subsidies. Keep an eye on these trends and take advantage of the market’s upward momentum!
Day trading stocks for today
1] Infosys: Infosys shares, trading at ₹1475, have formed a rounding bottom pattern on the daily chart, breaking out above ₹1467. The current price exhibits strong bullish momentum, with resistance near the ₹1510 level and support near ₹1440. Watch these levels for potential price movements to make informed trading decisions.
2] Glenmark Pharmaceuticals: Glenmark share is trading at ₹806.50 levels with strong support at ₹780 levels. The stock has broken out from the consolidation range of ₹780 to ₹805 levels and is trading above all important moving averages. The momentum indicator RSI is also strong at 59 levels.
3] Whirlpool: Whirlpool share has a short-term bullish reversal pattern, with a potential retrenchment till ₹1370. Traders can go long with a stop loss of ₹1315 for a target price of ₹1370 if the stock holds the support level of ₹1315. Watch for potential price movements to make informed trading decisions.
4] Jindal Steel: Jindal Steel share has a short-term bullish reversal pattern, with a potential bounce towards the ₹705 level if it holds support at ₹675. Traders can go long with a stop loss of ₹675 for a target price of ₹705. Watch for potential price movements to make informed trading decisions.
5] LIC: LIC share price has broken out of resistance with a bullish candlestick, suggesting a buy recommendation with targets up to ₹780. Traders can initiate a buy on dip in the range of ₹744 to ₹746 with a stop loss below ₹726 on a daily closing basis. Watch for potential price movements to make informed trading decisions.
6] Lemon Tree: Lemon Tree share is making higher highs and higher lows on the weekly timeframe, with a bullish candlestick after retesting the breakout zone, indicating a buy trade with targets up to ₹127. Traders can initiate a buy trade between ₹117 to ₹118, with a stop loss of ₹113 on a daily closing basis. Watch for potential price movements to make informed trading decisions.
