• According to analysts, the trend for Nifty looks sideways positive
Indian equity indices declined on Tuesday after three days of losses led by a rally in IT, metals and consumption stocks amid a largely positive trend overseas. The 30-share BSE Sensex climbed 274 points to close at 61,418.9. The NSE Nifty rose 0.46% to 18,244. In the broader market, the BSE Midcap gauge rose 0.48%, while the Smallcap index declined 0.10% in Tuesday's session.
Meanwhile, for Wednesday, the Indian indices may see a higher opening as SGX Nifty, Singapore Nifty which is the Indian Nifty traded on the Singapore Stock Exchange, indicated a gap opening for the Indian stock market today.
Day trading guide for today's stock market
“The market seems to have stopped its short term downside correction and started with a decent bounce from the lows. Further sustainable upside from here is expected to pull Nifty towards recent highs of 18,450 and this is likely to open doors for fresh highs around 18,600+ levels. The immediate support is placed at 18,100, said Nagaraj Shetty, technical research analyst at HDFC Securities.
“The trend for Nifty looks sideways to positive. Going forward, below 18200 could provide immediate support allowing the index to move lower towards 18100. At the higher end, resistance is visible at 18300/18450," said Rupak Dey, senior technical analyst at LKP Securities.
Shares to buy today according to the recommendations of the analysts -
Anuj Gupta, Vice President - Research at IIFL Securities
Tata Motors: Buy Tata Motors, stop loss ₹412, target ₹440
SBI: Buy SBI, stop loss ₹578, target ₹620
Sumeet Bagadia, Executive Director, Choice Broking
Shriram Transport Fin: Buy SRTRANSFIN, stop loss ₹1,300, target ₹1,400-1425
NTPC: Buy NTPC, stop ₹164, target ₹171-174
Mudit Goyal, Senior Research Analyst, SMC Global Securities
Amar Raja Battery: Buy amarjabet, target ₹657, stop loss ₹635
Godrej Consumer Products: Buy GODREJCP, target ₹856, stop loss ₹834
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