Day trading guide for Tuesday: 8 stocks to buy today — 5th July

Market


Indian equity indices regained on Monday after a three-session losing streak as investors snapped up banking, FMCG and IT stocks amid a positive trend overseas. However, a lacklustre rupee and unabated foreign fund outflows capped the gains.

The 30-share BSE Sensex closed 326.8 points higher at 53,234.7 while Nifty rose 0.5% to 15,835. In the broader market, the BSE midcap gauge gained 0.8% and the smallcap index climbed 0.59%. Market breadth was in favour of the bulls, with 24 of the 30 Sensex counters logging gains.

Energy, healthcare, IT, auto, metal, oil & gas were the laggards. The Nifty metals index fell as much as 3% on Monday as iron ore and steel prices tumbled on the prospects of aggressive rate hikes stoked fears of global economic slowdown. 

Day trading guide for stock market today

“The short-term trend of Nifty continues to be positive with range movement. The market is now showing signs of witnessing a decisive upside breakout of the important resistance of 15900 levels in the next 1-2 sessions. A sustainable upmove above 15900-15950 is expected to pull Nifty towards the next resistance of 16300 in the short term. Immediate support is placed at 15750,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks to buy today as recommended by analysts –

Sumeet Bagadia, Executive Director at Choice Broking

HDFC Life: Buy HDFC Life, stop loss 560, target 585-590

Power Finance Corporation: Buy PFC, stop loss 104, target 111-114

Mehul Kothari, AVP-Technical Research at Anand Rathi

Concor: Buy concor, stop loss 606, target 635

IndusInd Bank: Buy IndusInd Bank, stop loss 816, target 865

Rajesh Bhosale, Technical Analyst, Angel One Ltd

IndusInd Bank: Buy INDUSINDBANK, stop loss 811, target 867

Jubilant Food: Buy JUBLFOOD, stop loss 525, target 595

Avinash Gorakshkar, Head of Research at Profitmart Securities

Cummins India: Buy CUMMINSIND, stop loss 1,015, target 1,120

TVS Motor: Buy TVSMOTOR, stop loss 815, target 895

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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