Day trading guide for Tuesday: HCL Tech, SAIL among 6 stocks to buy today
Equity benchmarks ended over a per cent higher on Monday amid positive trends in global markets and buying in Reliance Industries Ltd (RIL) and IT counters ahead of Tata Consultancy Services (TCS) Q3 results which released after-market hours. The BSE Sensex zoomed 846.9 points to settle at 60,747. The Nifty climbed 1.35% to end at 18,101. In the broader market, the BSE midcap gauge jumped 0.93% and smallcap index climbed 0.50%.
Day trading guide for stock market today –
“The present upside bounce could be a cheering factor for bulls to make a comeback. The upside could extend towards the crucial overhead resistance of around 18250-18300 levels in the next few sessions. But, a decisive move above this hurdle is likely to bring bulls in to the market. Immediate support is placed at 18000 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“After three down days, the Nifty is finally back in the black, taking the index value above the crucial 18,000 mark. On the daily chart, the index is seen to have found support at the recent low of 17,774 before moving up. The momentum indicator RSI has entered a bullish crossover. The short-term trend looks sideways to positive as long as it remains above 17,770. On the higher end, resistance is visible in the 18,250–18,270 zone,” said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks to buy today as recommended by analysts –
Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi
BUY Max Financial Services Ltd (Mfsl) at ₹740, stop loss ₹720, target ₹775
BUY Polycab at ₹2,653, stop loss ₹2,620, target ₹2,720
Sumeet Bagadia, Executive Director at Choice Broking
Buy HCL TECH, stop loss ₹1,040, target ₹1,080-1,090
Buy Mahindra & Mahindra (M&M), stop loss ₹1,270, target ₹1,350-1,370
Anuj Gupta, Vice President at IIFL Securities
Buy Steel Authority of India (SAIL), stop loss ₹82, target ₹95
BUY FEDERAL BANK, stop loss ₹128, target ₹148
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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