Day trading guide for Wednesday: 6 stocks to buy today – November 23

Market


Indian equity indices staged a pullback on Tuesday after three days of declines as investors scooped up IT, metal and consumption stocks amid a largely positive trend overseas. The 30-share BSE Sensex climbed 274 points to settle at 61,418.9. The NSE Nifty gained 0.46% to 18,244. In the broader market, the BSE midcap gauge rose 0.48%, while the smallcap index dipped 0.10% in Tuesday’s session.

Meanwhile, for Wednesday, Indian indices may witness a higher start as SGX Nifty, Singapore Nifty that is the Indian Nifty traded in the Singapore Stock Exchange, indicates a gap up opening for the Indian stock market today.

Day trading guide for stock market today

“The market seems to have halted its short term downward correction and started with decent upside bounce from the lows. Further sustainable upmove from here is expected to pull Nifty towards the recent swing highs of 18,450 levels and that is likely to open doors for new highs around 18,600+ levels. Immediate support is placed at 18,100,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

“The trend for the Nifty looks sideways to positive. Going forward, 18200 may provide immediate support below which the index may drift down towards 18100. On the higher end, resistance is visible at 18300/18450,” said Rupak De, Senior Technical Analyst at LKP Securities.

Stocks to buy today as recommended by analysts –

Anuj Gupta, Vice President – Research at IIFL Securities

Tata Motor: Buy Tata Motor, stop loss 412, target 440

SBI: Buy SBI, stop loss 578, target 620

Sumeet Bagadia, Executive Director at Choice Broking

Shriram Transport Fin: Buy SRTRANSFIN, stop loss 1,300, target 1,400-1425

NTPC: Buy NTPC, stop loss 164, target 171-174

Mudit Goel, Senior Research Analyst at SMC Global Securities

Amara Raja Batteries: Buy AMARAJABAT, target 657, stop loss 635

Godrej Consumer Products: Buy GODREJCP, target 856, stop loss 834

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less



Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments