Nifty may touch 16200 level in near term, today’s intraday trading ideas which can make profits

Yesterday’s session was quite volatile in the market on the day of weekly expiry. Initially the market was bullish but then there was heavy selling. Sensex 864 and Nifty closed flat by falling 263 points from the upper level. On the other hand, pressure was seen on Realty, Banking, Pharma, FMCG stocks. In yesterday’s trade, the Sensex closed at 55,702.23 with a marginal gain of 33.20 points, or 0.06 per cent. Nifty closed at 16,682.65 with a marginal gain of 5.05 points, or 0.03 per cent. On the other hand, Nifty Bank closed 32 points down at 35,233 level.

If we look at the movement of the market today, the market is seeing a huge decline due to bad global cues. Nifty has slipped below 16400, down 280 points. On the other hand, Nifty Bank has slipped about 650 points. Here the weakness of 2 percent is being seen the most in the midcap index. The market seems to be in the grip of bears. Nifty’s realty, metal and IT indices are down up to 2%.

Nagraj Shetty of HDFC Securities says that negative trade remains for Nifty in the short term. If Nifty breaks the level of 16600 downwards then in near term Nifty can slip towards 16200. For Nifty, there is a strong resistance at the level of 16,800 – 17,000 at the upper level.

Today’s Trading Stocks Which Can Have Strong Earnings

Mudit Goyal’s intraday trading picks of SMC Global Securities

UPL: Buy current level, target Rs 845, stop loss Rs 812

LIC IPO: GMP reduced in last three days, know what is going on today gray market premium

Intraday trading pics of Rohit Singhre of Bonanza Portfolio

Endurance Technologies: Buy Current Level, Target Rs 1350, Stop Loss Rs 1180

Sumeet Bagadiya’s intraday trading picks of Choice Broking

Tech Mahindra or TechM: Buy current level, target Rs 1300-1320, stop loss Rs 1220

DLF: Sell current level, target Rs 330- Rs 325, stop loss Rs 351

Intraday trading pics of Avinash Gorakshakar of Profitmart Securities

Ashok Leyland: Buy current level, target Rs 138, stop loss Rs 118

GAIL: Buy current level, target Rs 175, stop loss Rs 155

Intraday trading pics of Anuj Gupta of IIFL Securities

Bank of Baroda: Sell current level, target Rs 118, stop loss Rs 94

Federal Bank: Sell current level, target Rs 105, stop loss Rs 86

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