Day Trading Guide For Today: 10 Best Shares To Buy On 5th Sept As Recommended By VLA Ambala of SMT

Invest wisely and cautiously when you are putting your hefty amount in Small Caps and Mid-Caps. Worth noticing here when major indices are trading below 3-4% to their all-time high, MID and small caps are hitting new highs. It's a good thing. Many stocks that we had recommended have given multi-fold returns in just a couple of months. Money is being floated heavily in Small Caps and Mid-caps and that is what the "Nifty 100 small-caps Index and Nifty Midcap 50 Index" are indicating.

On the very first day of the market session in September month 2023, Nifty 100 Small and Nifty Midcap 50 slatted the day at fresh all-time highs. In fact, Major indices Sensex, and Nifty have closed the day with almost 0.40% gains. August month was a Bear's month but what should we expect in the month of September as the market has shown some strong indications about bullish movement? What should be our trade plan for the Today trading session, 5th September 2023? Which Stocks could be in focus today? Let's check it now.

Day trading guide for today

Benchmark stock market indices ended the trading session on a good positive note as the IT and Metal sectors were the main leaders in the market on Monday. The S&P BSE Sensex ended 240.98 points higher at 65,628.14, while the NSE Nifty50 settled the day at 93.50 points higher to 19,528.80. Broader markets indices kept gaining momentum, with the Nifty SmallCap 100 rising 1.3 per cent and the Nifty MidCap 100 gaining 0.98 per cent in intraday with fresh all-time highs.

The top gainers NSE were Coal India, Wipro, Ultratech Cement, HCL Tech and Jio Financial Services and the top losers were M&M, Nestle India, ITC, AXISBANK, and Bajaj Finance. On Tuesday 5th September 2023, we could see Nifty to trade in the 19380 to 19670 range. On the outlook for Bank Nifty, VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) said, "In last session, Bank Nifty gave a stock a very bullish closing but it's still trading just above to its 20- & 50-days EMA at daily timeframe. Hence 44500 is a very crucial support level for this month's movement".

Bank Nifty major resistance for Tuesday 5th Sep should be at 44700/44810/44950. Major support will be at 44520/44400. Now Both Indices Nifty Bank and Nifty50 are trading above its semi-round Numbers.

Global Cues

Strong GDP and Manufacturing data boosted investors' sentiment in the market and dips are being bought." Indian Market is reacting only to Positive news. Global economies fighting but still showing strengths even if they are performing well amid the biggest concern of high inflation, and recession in developing economies. I must say stay invested and cautious", remarked VLA Ambala.

F&O Ban List

BALRAMCHIN, BHEL, HINDCOPPER, IBULHSGFIN and INDIACEM are part of the F&O ban list by the stock exchange today.

The derivative contracts associated with the aforementioned securities have exceeded the market-wide position limit by 95% and are now in the period of ban. As a result, these shares can only be traded in the cash market and are banned from trading in the day's futures and options market.

Swing and Day trading stocks for today

On intraday and swing stocks for today, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended ten (10) stocks to buy today for Intraday and swing trading. Here are the top 10 trending stocks for Tuesday.

Dhampur Sugar Mills

DHAMPURSUG looks good to buy above 260/270 (range) and has a target expectation of 290 to 350 with a stop loss of 250

MSTC

MSTCLTD looking good to buy above 425 and has a target expectation of 450 to 485 with a stop loss of 383.

Navin Fluorine International

Buy NAVINFLUOR in the range of 4500 to 4550 and hold it for 4700 to 4800 in the very short term. Keep stop loss of Rs 4410.

Jubilant FoodWorks

Buy JUBLFOOD at or above 500 /503 and expect a target ranging from 530, 560 and 600 with a stop loss at 460.

Crompton Greaves

Buy CROMPTON near 302/303 and hold it for a target ranging from 310/315/320/325/330. Keep ACC stop loss at 290.

Bandhan Bank

Buy BANDHANBNK in the range of 236 and hold it for 250 to 295 in the very short term. Keep stop loss in consideration with a stop loss of Rs 227.

ACC

Buy ACC above 2060 and hold it for a target ranging from 2100 to 2500. Keep ACC stop loss at 1925

Indus Towers

Buy INDUSTOWER above the 175 to 180 range with a stop loss of Rs 165 and for targets of 195/197/200/205/210/215/220. The stock is trading above its averages.

NTPC

Buy NTPC near 235/237 and hold it for a target ranging from 250 to 340. Keep NTPC stop loss at 200.

LTIMindtree

Buy LTIM at or above the 5300/5360 range and keep target expectation between 5500/5600/5700/5800/5900/6000/6100/6200/6300/6500 with stop loss at 4750.

All of the recommendations are being provided here based on the price overall movement, previous behaviour and technical analysis - said VLA Ambala.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.