Top Trading Ideas For Today Intraday: After Friday’s comeback last week, Indian markets managed to close in the green for the second consecutive day amid broad-based buying on Monday, February 28 and good cues from the Asian market. The Sensex closed at 56,247.28 with a gain of 388.76 points, or 0.70 per cent. On the other hand, Nifty closed at 16,793.90 with a gain of 135.50 points, or 0.81 percent. The same Bank Nifty closed at 36,205 with a gain of 225 points. Market experts say that if you look at the current chart pattern, then it is giving positive signals for the market. Therefore, investors will be advised to make a buying strategy on the downside in the market.
Nagraj Shetty of HDFC Securities says that Nifty is currently looking close to its key overhead resistance near 16,800-17,000 which is its previous swing low and 200 Day EMA. Earlier this range was giving important support to the market and from here there was a strong uptrend. The previous examples are showing that in the short term we will see Nifty struggling to stay above 16,800-17,000. But if Nifty manages to gain strength above 17,000 then short term bearish pattern of Nifty may change and it may see us moving towards 17,500. On the other hand, if Nifty does not manage to stay above 16,800, then in the near term we can see a decline of up to 16,300.
Today’s Top Intraday Calls Which Can Have Strong Earnings
Intraday calls by Sumeet Bagadiya of Choice Broking
ICICI Bank: Buy current level, target Rs 760-775, stop loss Rs 720
Larsen & Toubro: Buy current level, target Rs 1875- Rs 1900, stop loss Rs 1775
Avinash Gorakshakar of Profitmart Securities Intraday Calls
Hindalco Industries: Buy current level, target Rs 600, stop loss Rs 558
Tata Steel: Buy current level, target Rs 1260, stop loss Rs 1195
Anuj Gupta of IIFL Securities Intraday Calls
Axis Bank: Buy current level, target Rs 800, stop loss Rs 699
Adani Wilmar: Buy current level, target Rs 430, stop loss Rs 340
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