Day Trading Guide for August 25: Six Stocks to Buy or Sell Today
Written by Sanjay Kumar
Stock Market Guide for 25 August – After a positive start, the Indian stock market’s three-day rally came to a halt on Thursday (August 24). The NSE Nifty dropped by 57 points, closing at 19,386, while the BSE Sensex fell by 180 points, ending at 65,252. However, the Bank Nifty index managed to finish 17 points higher at 44,496, indicating some sector-specific strength. The broader market extended its rally with the BSE small-cap index adding 0.21% and the BSE mid-cap index rising by 0.11%.
Technical Analysis Points Towards Potential Decline
According to Nagaraj Shetti, Technical Research Analyst at HDFC Securities, a bearish trend might be emerging. A bearish engulfing-type candle pattern, though not a classical one, was observed on the daily chart. The false upside breakout beyond a crucial overhead resistance suggests a possible slide in Nifty towards the immediate support levels of 19,300 to 19,250. Any upward movement is likely to face resistance around 19,550.
Stock Market Guide for 25 August – Bank Nifty’s Resilience and Future Support
Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities, noted that Bank Nifty displayed resilience by maintaining Wednesday’s gains. He pointed out that the 44,500 level is significant, as it holds both maximum call and put open interest, likely acting as strong support going forward.
Focus on Jackson Hole Meeting
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted the significance of the Jackson Hole meeting’s outcome. The meeting’s conclusions are expected to provide insights into future interest rate movements. While waiting for this event, it’s anticipated that the Nifty will remain within a narrow range, with potential for stock-specific activities in the broader market.
Stocks in the Spotlight
A total of 27 dividend-paying stocks, including Surya Roshini, GIC Housing Finance, ABB India, and others, are set to trade ex-dividend on this day. Traders will keep an eye on these stocks for potential market impact.
F&O Ban List Updated
Eleven stocks have been placed on the F&O ban list for the upcoming session. Stocks like BHEL, Delta Corp, GMR Infra, and others will be monitored closely due to this restriction.
Intraday Trading Picks
Several stock market experts have provided their intraday trading recommendations for the day:
Sumeet Bagadia (Executive Director at Choice Broking) Picks:
- Asian Paints: Buy at ₹3225, target ₹3360, stop loss ₹3140.
- Tata Chemical: Buy at ₹1015.65, target ₹1060, stop loss ₹985.
Ganesh Dongre (Technical Research at Anand Rathi) Picks:
- REC: Buy at ₹242, target ₹248, stop loss at ₹238.
- M&M Finance: Buy at ₹305, target ₹313, stop loss ₹298.
Pravesh Gour (Senior Technical Analyst at Swastika Investmart) Picks:
- APL Apollo Tubes: Buy at ₹1655, target ₹1700, stop loss ₹1625.
- JK Paper: Buy at ₹380, target ₹395, stop loss ₹369.
Note: Investors are advised to seek advice from certified experts before making any investment decisions.
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