Day trading guide for stock market today: Nine stocks to buy or sell on Thursday — 25th January

Stock market today: After a cautious opening, the Indian stock market witnessed a sharp recovery in the second half and ended higher on Wednesday. The Nifty 50 index finished 215 points higher at the 21,453 level, the BSE Sensex surged 689 points and closed at the 71,060 mark while Bank Nifty ended 67 points higher at the 45,082 level. After witnessing a sharp fall on Tuesday, the Nifty Mid-cap 100 and the Small-cap 100 Indices recouped some of the losses where they gained by 1.80% and 1.70% respectively. Advancing shares outnumbered the declining shares as the advance-decline ratio stood at 1.83 on BSE.

“Domestic equities bounced back strongly today after yesterday’s sharp sell-off. Sentiments turned buoyant following positive global cues, impressive quarter results, and better-than-expected January PMI data. Nifty rose 215 points (+1.0%) to close at 21454 levels. The broader market too rallied with Midcap100/Smallcap100 up 1.8%/1.7%. Most of the beaten-down sectors recovered today including IT, PSU Banks, Railways, Metals, Oil & Gas, PSUs, and Media. Global markets rallied after the People’s Bank of China said it would cut the reserve requirement ratio for banks on Feb. 5, which should provide boost to the economy,” said Siddhartha Khemka, Head – Retail Research at Motilal Oswal.

Day trading guide for stock market today

On the outlook for the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, “The short-term trend of Nifty seems to have reversed up, but the uncertainty remains in the market at the highs. The market could encounter strong resistance around 21,500 to 21,600 levels in the coming session. Immediate support for Nifty today is placed at 21,220 levels.”

On the outlook for the Bank Nifty today, Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas said, “Bank Nifty opened gap up however it was sold into and it resumed the next leg of the decline. On the downside, the bank Nifty is headed towards 44,600 from a short-term perspective. On the upside, 45,800 shall act as an immediate hurdle.”

Nifty Call Put Option data

On Nifty Call Put Option Data, Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities said, “Major total Call open interest was seen at 21500, 21600 and 21700 strikes with total open interest of 160603, 165431 and 211581 contracts respectively. One of the major Call open interest additions was seen at the 21600 strikes which added 31167 contracts in open interest while the strike price of 21400 saw a reduction of 22886 contracts in open interest,” adding, “Major total Put open interests was seen at 21400, 21300 and 21200 strikes with a total open interest of 155890, 166162 and 150429 contracts respectively. One of the major Put open interest additions was seen at the 21400 strikes which added 106123 contracts in open interest while the 21600 strike saw a reduction of 6340 contracts in open interest.”

Bank Nifty Call Put Option data

On Bank Nifty Call Put Option Data, Barve further added, “Major total Call open interest was seen at 45500, 45800 and 46000 strikes with total open interest of 197768, 132669 and 262524 contracts respectively in open interest. One of the major Call open interest additions was seen at 45500 strikes which added 50377 contracts in open interest,” adding, “Major total Put open interest was seen at 45000, 44700 and 44500 strikes with total open interest of 150730, 138761 and 140215 contracts respectively. One of the major Put open interest additions was seen at 44700 strike which added 100816 contracts respectively in open interest.”

Day trading stocks for today

On stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi; Virat Jagad, Technical Analyst at Bonanza Portfolio and Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher — recommended nine stocks to buy or sell today.

Sumeet Bagadia’s day trading stocks

1] Infosys: Buy at ₹1675 | Target ₹1745 | Stop loss ₹1635.

Infosys share, currently trading at ₹1675, has recently broken out above ₹1665 and formed a strong bullish candle on the daily chart. The immediate support is near the ₹1635 level, and the current price is exhibiting strong bullish momentum, expected to continue towards the ₹1745 level.

2] Mishra Dhatu Nigam: Buy at ₹494 | Target ₹520 | Stop loss ₹481.

Mishra Dharu Nigam share price has recently experienced a significant breakthrough above the crucial resistance zone ranging from ₹450 to ₹476 on the daily chart. This breakout has been accompanied by a consolidation of the upward movement, characterized by a Bullish Engulfing Pattern. The strong bullish sentiment is further validated by a noticeable surge in trading volume.

Ganesh Dongre’s stocks to buy today

3] LT: Buy at ₹3590 | Target ₹3650 | Stop loss ₹3545.

In the short-term trend, LT share price has a bullish reversal pattern, technically retrenchment could be possible till ₹3650. So, holding the support level of ₹3590 this stock can bounce toward the ₹3650 level in the short term. Hence, the trader can go long with a stop loss of ₹3590 for the target price of ₹3650.

4] NCC: Buy at ₹198 | Target ₹204 | Stop loss ₹192.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹204. So, holding the support level of ₹192 this stock can bounce toward the ₹204 level in the short term. Hence, the trader can go long with a stop loss of ₹192 for the target price of ₹204.

Shiju Koothupalakkal’s buy or sell stocks

5] Apar Industries: Buy at ₹5625 | Target 5850 | Stop loss ₹5445.

The stock has maintained the ascending channel pattern on the daily chart with currently taking support near the lower band of the channel at ₹5330 levels and indicating a positive bullish candle crossing above the important 50EMA level of 5500 to improve the bias and along with the RSI reversing the trend, further rise is anticipated. We expect an upside target of ₹5850 keeping the stop loss of ₹5545 level.

6] Godrej Consumer: Buy at ₹1163 | Target ₹1210 | Stop loss ₹1130.

The stock has indicated a higher lows formation made on the daily chart taking support near the 50EMA level of ₹1085 and witnessing a pullback has improved the bias. With the RSI also indicating a trend reversal to signal a buy, we expect the stock to rise further for an upside target of ₹1210 keeping the stop loss of ₹1130 level.

7] IPCA Labs: Buy at ₹1098.50 | Target ₹1155 | Stop loss ₹1070.

The stock has maintained the support zone near the trendline zone at ₹1060 levels and witnessed a positive bullish candle moving past the significant 50EMA level of ₹1085 to imply a positive bias in the stock and further rise is anticipated. With the chart looking good and the RSI also indicating a trend reversal, has scope for further gains from current levels expecting a target of ₹1155 levels keeping the stop loss of ₹1070.

Virat Jagad’s intraday stocks for today

8] Honeywell Automation India: Buy at ₹38,640 to ₹38,660 | Target ₹40,350 | Stop loss ₹37,800.

Honeywell Automation India Ltd is displaying encouraging technical developments on its daily chart. The inverse head and shoulder pattern breakout, accompanied by increased trading volume, reflects a growing market confidence. The upward trend of the Relative Strength Index (RSI) and positive alignment of key exponential moving averages (EMA) signal a bullish momentum. A noteworthy positive crossover on the EMA further supports this outlook. With a robust support level at 37800, the stock appears well-positioned for upward movement. A compelling growth target of 40350 adds to the positive prospects, suggesting potential for further appreciation in Honeywell Automation India Ltd.

9] Kaynes Technology India: Buy at ₹2845 to ₹2855 | Target ₹3010 | Stop loss ₹2770.

Kaynes Technology India Ltd has shown a positive development on the daily chart by breaking out of a triangular pattern, suggesting good times ahead for the stock. The attractiveness for potential buyers increases beyond the 2820 levels. This positive trend is supported by the Fast (21) EMA consistently staying above the Slow (50) EMA, showing strength in the upward direction. Moreover, the MACD has confirmed increased buying interest with a positive crossover. After the breakout, there was a notable increase in trading volume, pointing to higher demand for the stock. These signals together paint a positive picture for Kaynes Technology India Ltd, indicating potential upward momentum.

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 making any investment decisions.