Top Trading Ideas For Today Intraday: The Indian stock markets closed in the red mark on Wednesday while trading in a range bound manner amid the ever-severing situation of Russia-Ukraine war. In yesterday’s trade, Nifty lost 187 points to closed at 16,605. On the other hand, the Sensex closed at 55,468, down 778 points, while the Bank Nifty lost 832 points to close at 35,372.
Market experts say that the current trading pattern indicates the continuation of heavy volatility in the market. Experts say that the technical chart pattern of Wednesday’s trading session indicates the formation of a small positive candle. This candle was formed with the upper and lower saddles. In general, such a pattern indicates a possible change in the trend.
Nagraj Shetty of HDFC Securities Says that this type of CAI pattern usually formed after a bullish or bearish signal is a sign of a possible trend reversal. This could also be a sign of a narrow range trade with the resistance level at 16,800. Resistance is visible for Nifty at 16,800-17,000. Know above 17,000 of Nifty but once again there can be a durable rally. On the other hand, if Nifty slips below 16,480, then in this we can also see the level of 16,200 in the short term.
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Ruchit Jain of 5paisa.com It says that “India VIX remains at around 30 keyhire range. This means that the market may see heavy volatility in the short term.
Sumeet Bagdia of Choice Broking Says that Nifty has a broad range of 16,300 -16,850 for today while its smaller range can be 16,450 -16,700 for traders with high risk appetite. Similarly, the higher range for Bank Nifty can be 34,500 – 36,300 while for intraday traders with high risk appetite, it can be 34,700 – 35,700. Sumeet Bagdia advises intraday traders to strictly follow the stoploss and stay on the position till the level set for them is achieved.
Today’s Intraday Calls which can have huge earnings
Intraday calls by Sumeet Bagadiya of Choice Broking
1]NBCC (India): Buy current level, target Rs 42-45, stop loss Rs 35
2]Axis Bank: Buy current level, target Rs 42-45, stop loss Rs 35
Avinash Gorakshakar of Profitmart Securities Intraday Calls
Vedanta: Buy current level, target Rs 400, stop loss Rs 380
ONGC: Buy current level, target Rs 174, stop loss Rs 158
Anuj Gupta of IFL Securities Intraday Calls
Tata Power :: Buy Current Levels, Target Rs 240, Stop Loss Rs 209
National Aluminum Company or NALCO :: Buy Current Level, Target Rs 135, Stop Loss Rs 114
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