Day Trading Guide For Wednesday: 10 Best Shares To Buy Today As Recommended By VLA Ambala of SMT

Mid-caps and Small Caps are soaring. PSU Sectors stocks are gearing up for another impulsive in their uptrend. The market is bullish are there are many reasons. Dips are being catered as a golden opportunity. 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, 6th 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 however yesterday's trading range was narrow as compared to the recent days. Media and pharma were the leading yesterday's trading session. The S&P BSE Sensex ended 152.26 points higher at 65780.26, while the NSE Nifty50 settled the day at 46.10 points higher to 19574.90. Broader markets indices gaining momentum and protecting their lower levels and upside movement is possible if, swing lows sustain ahead too. The Nifty SmallCap rose by 37.10 points or 0.64 per cent and the Nifty MidCap closed the day at 40253.60 which is a 423.25 gain or 1.06 per cent in intraday with fresh all-time highs.

The top gainers NSE were APOLLOHOSP, COALINDIA, SUNPHARMA, BPCL, ITC and ULTRACEMCO, DRREDDY, SBILIFE, MARUTI, EICHERMOT top loser of the day.

On Wednesday 6th September 2023, we could see Nifty trading in the 19430 to 19720 range. Trading support and resistance posits could be ahead of 19520 and 19430 key support points and major resistance 19655 and 19720.

On the outlook for Bank Nifty, VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) said, "It's trading in a narrow range and sustaining above its important levels. In the last session, Bank Nifty gave a stock a small range negative closing and still it did not breakout its important resistance. This pressure is coming from major bank HDFC. bullish closing but it's still trading just above its 20- & 50-days EMA at a daily timeframe. Hence 44500 is a very crucial support level for this month's movement".

Bank Nifty major resistance for Wednesday 6th Sep should be at 44710/44800/44870. Major support will be at 44450/44220. Now Both Indices Nifty Bank and Nifty50 are trading above its semi-round Numbers.

Global Cues

Dialogues and actions are shooting the market sentiments. 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

The National Stock Exchange (NSE) banned trading in a total of six shares on Wednesday, September 6, 2023, in the futures and options (F&O) category. The six stocks on the stock exchange's F&O ban list for Wednesday are BHEL, India Cements, Delta Corp, Hindustan Copper, Balrampur Chini Mills Limited, and Indiabulls Housing Finance. The stock exchange has currently placed the derivative contracts in the aforementioned securities that have crossed 95% of the market-wide position limit in the ban period, according to NSE.

Swing and Day trading stocks for today By VLA Ambala

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.

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

Navin Fluorine International

Buy NAVINFLUOR in the range of 4600 and hold it for 4700 to 4850 in the very short term. Keep stoploss of Rs 4450.

MSTC

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

Jubilant FoodWorks

It hit our 2nd target yesterday but is still bullish. Buy JUBLFOOD at or above 530 and expect a target ranging from 550 and 665 with a stop loss at 460.

Tube Investments of India

Buy TIINDIA near 3150/70 and hold it for a target ranging from 3250 to 3500. Keep TIINDIA stop loss at 2940.

ACC

Our target hit it in but seeing more potential in it. Add more ACC above 2085 and hold it for a target ranging from 2150 to 2500. Keep ACC stop loss at 1925.

Bandhan Bank

Buy BANDHANBNK in the range of 237 and hold it for 250 to 295 in the very short term. Keep stop loss in consideration with a stop loss of Rs 227

Indus Towers

Buy INDUSTOWER above the 170 to 175 range 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.

NTPC

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

LTIMindtree

LTIM almost hit the first 5% target range but this momentum could continue ahead too. Add LTIM near or above the 5410 range and keep target expectation between 5500/5600/5700/5800/5900/6000/6100/6200/6300/6500 with stop loss at 5050.

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.