Equity benchmarks began the week on a downbeat note on Monday amid weak global cues while the rupee plunged to its lifetime low against the US dollar. The BSE Sensex shed 364.9 points to close at 54,470. Similarly, the NSE Nifty tumbled 0.67% to end at 16,301.8. In the broader market, the BSE smallcap gauge declined 1.67% and the midcap index dipped 1.89% on Monday.
Day trading guide for stock market today
“The underlying short term trend of Nifty continues to be negative and still there is no confirmation of any bottom reversal as of now. As long as the market clearly shows sustainable upside in the next 1-2 sessions, the chances of upside bounce is unlikely. Any upside bounce from here could be short lived and that could be a sell on rise opportunity. The near term downside target for the Nifty remains at 15700 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts –
Mehul Kothari, AVP – Technical Research at Anand Rathi
Axis Bank: Buy AXISBANK, stop loss ₹630, target ₹715
TCS: Buy TCS, stop loss ₹3,300, target ₹3,600
Rajesh Bhosale, Technical Analyst, Angel One Ltd
Power Grid: Buy POWERGRID, stop loss ₹238, target ₹259
Indus Tower: Buy INDUSTOWER, stop loss ₹199, target ₹210
Avinash Gorakshkar, Head of Research at Profitmart Securities
M&M: Buy M&M, stop loss ₹870, target ₹945
Cipla: Buy CIPLA, stop loss ₹915, target ₹990
Anuj Gupta, Vice President – Research at IIFL Securities
HCL Tech: Buy HCLTECH, stop loss ₹1,035, target ₹1,140
Bank of Baroda: Buy BANKBARODA, stop loss ₹87, target ₹115
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.