Day Trading Guide For Today: Top 10 Stocks To Buy/Sell As Recommended By VLA Ambala of SMT On Thursday

Indian market is trying to sustain and if this attempt gets successful then chances are higher, that we could witness new highs in NIFTY 50 and Sensex in Q3 2023. Mid-caps and Small-caps are already outperforming the major indices. PSU Sectors stocks are gearing up for another impulsive in their uptrend. Dips are being catered as a golden opportunity now. Invest wisely and cautiously when you are putting your hefty amount in Small Caps and Mid-Caps. Overall, the trend is bullish. We expect the broader market participation to continue to outperform. What should be our trade plan for the Today trading session on Thursday, 7th September 2023? Which Stocks could be in focus today? Let's check it now.

Day trading guide for today

The benchmark indices closed in positive with the Nifty closing above 19,600 with the push from last-hour buying. The NSE Nifty 50 ended up 0.18% to settle at 19,611.05, while the BSE Sensex added 100 points to shut shop at 65,880.52 on Wednesday. Nifty Next 50 and Nifty Midcap 50 led the gains among the broader indices. However, Bank Nifty's attempt failed to close in positive, however, it made a good recovery in the last 1 hour.

The top five gainers of NSE were Tata Consumable Products, Divi's Labs, Bharti Airtel, HDFC Bank and Brittania Industries. Tata Steel, Hindlaco Industries, Axis Bank, NTPC and IndusInd Bank top five losers of the day.

On Thursday 7th September 2023, we could see Nifty trading in the 19415 to 19815 range.

On the outlook for Bank Nifty, VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) said, "In 1st half of the day market has experienced pressure and it has recovered all of it in the last 2 hours of the day. However, this pressure was the majority because of the banking stocks that showed up good recovery in the second part of the day. looks like Price is getting ready for new highs. However, despite of all efforts Bank Nifty failed to close positively in intraday though lower price rejection was there. Hence 44500 is a very crucial support level for this month's movement".

Bank Nifty major resistance for Thursday 7th Sep should be at 44680/44950. Major support will be at 44330/44215/44060.

Global Cues

The hike in crude oil which is now at $90, was a shock to the market but our market digested and did not demotivate the investors. Market tone is bullish and I must say stay invested and cautious", remarked VLA Ambala. The securities have been put on ban under the F&O segment as they have crossed 95 percent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Best Intraday, 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 10 best shares to buy today Thursday, 7th September.

Tata Consumer Products

TATACONSUM looks good to buy above 880 (range) and has a target expectation of 950 to 1180 with a stop loss of 820

Cummins India

Buy CUMMINSIND in the range of 1750 and hold it for 1770 to 2000 in the very short term. Keep stop loss at 1700.

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

Our target hit it in but seeing more potential in it. Add more ACC above 2020 and hold it for a target ranging from 2130 to 2500. Keep ACC stop loss at 1925.

Tube Investments of India

Buy TIINDIA near 3130/50 and hold it for a target ranging from 3250 to 3500. Keep TIINDIA stop loss at 2940.

Jubilant FoodWorks

It hit our 2nd target yesterday but is still bullish. Buy JUBLFOOD at or above 530/540 and expect a target ranging from 560 and 665 with a stop loss at 460.

MSTC

MSTCLTD looking good to buy above 410 and has a target expectation of 440 to 485 with a stop loss of 377.

Indus Towers

Yesterday it hit our 1st target but still has a lot of potential in it so one can add more INDUSTOWER 180/185 with a stop loss of Rs 163 and for targets of 190/197/200/205/210/215/220. The stock is trading above its averages.

Zee Entertainment Enterprises

Buy ZEEL near 278 and hold it for a target ranging from 300 to 390. Keep ZEEL stop loss at 245.

Spicejet

SPICEJET This stock was up by 20% but still in its bullish momentum. If you want to take a little risk buy it near 38/39 and keep the target expectation between 45 to 78 with a stop loss at 27. Keep exposure limited because of deep swing.

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.