Benchmarks Sensex and Nifty rebounded by over 1% on Thursday, propelled by buying in index majors Reliance Industries (RIL), HUL with an overall positive trend in global markets. The BSE Sensex jumped 701 points to end at 57,521.06 while Nifty rallied 1% to 17,245.
In the broader market, the BSE midcap gauge jumped 0.8% and smallcap index gained 0.12% on Thursday. Meanwhile, Reliance Industries (RIL) became the first Indian company to cross a market valuation of $250 billion.
Day trading guide for stock market today
“The short term trend has turned up again for the Nifty as per smaller timeframe chart. But, as per larger timeframe, the volatile movement and minor downward corrections are not ruled out in the short term. Strong resistance is placed around 17,300-17,350 levels and the crucial lower support is at 17,900 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts –
Mehul Kothari, AVP – Technical Research, Anand Rathi
Asian Paints: Buy ASIANPAINT near ₹3,240, stop loss ₹3,165, target ₹3,360
DCM Shriram: Buy DCMSHRIRAM at ₹1,190, stop loss ₹1,140, target ₹1,275
Anuj Gupta, Vice President at IIFL Securities
Motherson Sumi: Buy MOTHERSUNSUMI, stop loss ₹124, target ₹155
Tata Motors: Buy TATAMOTORS, stop loss ₹414, target ₹460
Avinash Gorakshkar, Head of Research at Profitmart Securities
Dabur: Buy DABUR, stop loss ₹555, target ₹610
DLF: Buy DLF, stop loss ₹367, target ₹405
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.