Day trading guide for today: Indian stock market finished higher on Friday due to strong global market sentiments. Nifty 50 index ended higher for sixth straight week, hitting a new high of 21,006. BSE Sensex went up 303 points and closed at 69,825 levels while Bank Nifty index shot up 420 points and ended at 47,262 mark.
Day trading stocks for today
1] Kotak Mahindra Bank: Buy at ₹1838.45, target ₹1960, stop loss ₹1775.
Kotak Mahindra Bank share shows many positive indicators in technical analysis. The stock rebounded from significant support at ₹1810, surpassed the initial resistance at ₹1835, and is now trading at ₹1838.45, demonstrating strength in price action. A hammer candlestick pattern on the daily chart suggests a possible up move, and the stock is trading above all important moving averages, indicating strength.
2] Jindal Steel: Buy at ₹686.25, target ₹720, stop loss ₹665.
Jindal Steel share has formed a bullish candle on daily chart, trading at ₹686.25 levels, and surpassed the important level of ₹665 and 20 Day EMA. A small resistance lies around ₹698 levels. Strong support is at around ₹665 levels, and the RSI indicator is trading around 63 levels, indicating strength.
3] State Bank of India or SBI: Buy at ₹615, target ₹625, stop loss ₹605.
SBI share price shows a bullish reversal pattern in the short-term trend. Holding the support level of ₹675, the stock can bounce towards ₹705 level. Traders can go long with a stop loss of ₹675 for the target price of ₹705.
4] Aptus: Buy at ₹316 to ₹318, target ₹328, stop loss ₹305.
Aptus share price is breaking out of a bullish pattern and closing in green with a bullish candlestick. A buy recommendation is initiated for targets up to ₹328. Traders can buy on dip within ₹316-₹318 range with stop loss below ₹305 on a daily closing basis.
5] Ujjivan Small Finance Bank: Buy at ₹58.5 to ₹59.5, target ₹65, stop loss ₹57.
Ujjivan Small Finance Bank share is breaking out of resistance on the daily timeframe and making a bullish candlestick after the breakout. Buying is recommended for targets up to ₹65. Traders can buy within the range of ₹58.5 to ₹59.5 with a stop loss of ₹57 on a daily closing basis.
