Day Trading Guide: Paytm, HDFC among 9 stock recommendations for Thursday

NEW DELHI: Wednesday’s session was a much-needed relief for the bulls on the D-Street as we witnessed a smart recovery in the benchmark index Nifty, and in few individual stocks. The index Nifty reclaimed 17,100 mark while on the other hand Nifty Bank index still remained under pressure to close flat.

“On the daily chart of Nifty spot, we are now witnessing a Bullish Harami candlestick pattern which has a reversal nature. The pattern has occurred at the placement of 200 DEMA. Thus, for the coming sessions; low of 16,825 would remain a key support,” said Mehul Kothari, AVP - Technical Research, Anand Rathi Shares & Stock Brokers.

“If the low is not breached then there is a possibility of reversal from current levels. In addition; a move above 17275 would confirm a short term bottom in the markets.”

HDFC
Buy at Rs 2,180
Stop Loss: Rs 2,110
Target: Rs 2,300

Similar to Nifty index, even HDFC has a pattern which resembles bullish Harami. Also, the stock looks a bit oversold in the smaller time frame and indicates a possibility of bounce from the current levels.
Analyst: Mehul Kothari, Anand Rathi

Sunteck Realty
Buy at Rs 490
Stop Loss: Rs 470
Target: Rs 525

The stock Sunteck Realty has been trading in a range of Rs 500-430 since past couple of months. At this point in time; it is on the verge of breakout from the mentioned range. Post breakout we expect a faster momentum on the upside.
Analyst: Mehul Kothari, Anand Rathi

Coal India
Buy at 195
Stop loss: Rs 183
Target: Rs 225

Stock is in an uptrend and has breached key resistance level.
Analyst: Aamar Deo Singh, Angel One

Apollo Hospital
Buy at Rs 4,750-4,780
Stop loss: Rs 4,497
Target: Rs 5,140

Trend is positive, technical indicators show bullish momentum.
Analyst: Aamar Deo Singh, Angel One

BPCL
Buy at Rs 391
Stop loss: Rs 369
Target: Rs 434

The price has moved above the previous swing high on the daily timeframe indicating a rise in optimism. Moreover, the rally was backed by a decent increase in volume. Besides, the price has moved back above the 200DEMA on daily timeframe. Daily RSI (14) is in bullish crossover as it has sustained above 50. On the higher end, the rising price may move towards Rs 434 as long as it sustains above Rs 370.
Analyst: Rupak De, LKP Securities

Indian Bank
Buy Rs 165
Stop loss: Rs 158
Target: Rs 182

The stock has found support at the previous support zone on the daily chart. Besides, the recent fall has halted at the 200DEMA before moving up higher. A golden crossover is also visible on the daily chart of the stock. Over the short term the stock may move towards a previous swing high of Rs 178 and higher. On the lower end, support is visible at Rs 158.
Analyst: Rupak De, LKP Securities

Shankara Building
Buy at CMP
Stop loss: Rs 700
Target: Rs 900

The Bollinger bands have also seen a squeeze and this a bullish development. The low volume decline is forming a flag pattern. Flags are regarded as trend continuation pattern where price takes a halt after a swift rally. If we create a minor trendline from the highs of March 2023 then we see price is breaking out of this flag pattern.
Analyst: Manish Shah, Niftytriggers

HDFC Life
Buy above Rs 559
Stop loss: Rs 235
Target: Rs 600

The stock closed at above the 50 and 100-day moving average.
Analyst: Vijay Danotiya, CapitalVia Global

Paytm
Buy above Rs 639
Stop loss: Rs 625
Target: Rs 700

The stock is making consolidation in 15min time frame.
Analyst: Vijay Danotiya, CapitalVia Global