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.
