Trade Setup | Things To Know Before Market Opening - 19 May 2023 Friday

Day trading guide for today: Amid high expectations of a final deal on US debt ceiling, Dalal Street ended lower for third straight session despite strong global market sentiments. 50-stock index Nifty ended 51 points lower at 18,129 levels, 30-stock index Sensex corrected 128 points and finished at 61,431 mark whereas Bank Nifty index gained 53 points and closed at 43,752 levels. In broad market, mid-cap index nosedived 0.67 per cent whereas small-cap index went off 0.26 per cent.

On outlook for HDFC Securities said, "The recent swing high of 18,458 level could now be considered as a new higher top of the sequence and the current weakness seems to be in line with the new higher bottom formation as per daily timeframe chart. At the lower levels, the Nifty is expected to find support around 18,000-17,950 levels before showing upside bounce from the lows in the next 2-3 sessions."

On intraday trading tips for stock market today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "Markets are likely to remain consolidative and take cues from global developments. Overall, we remain positive on the market and view the current decline as buying opportunity."

On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at day trading stocks to buy today.

1] Marico: Buy at CMP, target ₹545 to ₹550, stop loss ₹524

2] Berger Paints: Buy at CMP, target ₹640 to ₹650, stop loss ₹610

3] Lemon Tree: Buy at CMP, target ₹110, stop loss ₹85

4] Ugro Capital: Buy at CMP, target ₹220, stop loss ₹184

5] Shriram Finance: Buy at ₹1350, target ₹1375, stop loss ₹1325

6] Cipla: Buy at ₹915, target ₹932, stop loss ₹905.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of PickStock. We advise investors to check with certified experts before taking any investment decisions.