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Market experts Ratnesh Goyal and Kunal Bothra have identified several stocks for intraday trading on November 17. Recommendations include Garden Reach Shipbuilders & Engineers, BSE, Vodafone Idea, Axis Bank, and Indus Towers, with specific target prices and stop losses provided. Experts also commented on potential movements for Bank Nifty and Nifty50.
Market experts have identified key stocks for intraday trading on November 17, providing specific recommendations and trading levels.
Ratnesh Goyal of Arhant Capital Markets suggested buying shares of Garden Reach Shipbuilders & Engineers Ltd with a target price of Rs 2960 and a stop loss at Rs 2850. The current market price (CMP) is Rs 2896.85.
Goyal also recommended buying BSE shares, setting a target price of Rs 2790 and a stop loss at Rs 2870. The CMP for BSE is Rs 2825.50.
Kunal Bothra, another market expert, advised buying Vodafone Idea (IDEA) with a target price of Rs 11.50 and a stop loss at Rs 10.50. The CMP is Rs 10.94.
Bothra further recommended buying Axis Bank, setting a target price of Rs 1260 and a stop loss at Rs 1220. The CMP is Rs 1242.75.
Indus Towers was also recommended by Bothra for buying, with a target price of Rs 425 and a stop loss at Rs 404. The CMP is Rs 412.90.
Additionally, market commentary indicated that Bank Nifty may reach its lifetime high, with potential to touch 59000 if it crosses 58800. Nifty50 is showing resistance at the 26100 level.
Impact:
These intraday recommendations are crucial for short-term traders seeking quick gains within the trading day. The specified target prices and stop losses provide clear entry and exit points. The commentary on Bank Nifty and Nifty50 offers broader market sentiment insights that day traders can leverage. While these calls are for immediate trading opportunities, they do not significantly impact long-term investment strategies for most investors.
Rating: 5/10
Difficult Terms:
Intraday Trading: The practice of buying and selling financial instruments within the same trading day, aiming to profit from small price fluctuations.
Target Price: The price level at which a trader or investor expects a stock to reach within a specified timeframe, often used as a goal for selling.
Stop Loss: An order placed with a broker to buy or sell a security when it reaches a certain price, designed to limit an investment's potential loss.
CMP (Current Market Price): The current price at which a stock or security is trading on an exchange at any given moment.
Bank Nifty: A stock market index that represents the banking sector of the Indian stock market, consisting of the most liquid and large Indian bank stocks.
Nifty50: A benchmark Indian stock market index comprising the top 50 largest companies listed on the National Stock Exchange of India (NSE), representing various sectors of the economy.
