The BSE Sensex closed 200 points lower at 57,991 on Monday and on similar lines, the NSE Nifty 0.43% to end at 17,241. In the broader market, the BSE midcap gauge fell by 0.87% and smallcap index dipped 0.58%.
Day trading guide for stock market today
"The short term trend of Nifty is weak with high volatility. The emergence of sharp buying interest from near the lows could be a cheering factor for the bulls to make a come back. Hence. one may expect Nifty to retest the hurdle of 17,400 levels in the near term. Immediate support is placed at 17,050-17,100 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Over the near term, the Nifty may move within the range of 17,000-17,300. A decisive fall below 17,000 may trigger a selling pressure in the market. On the higher end, a decisive move above 17,300 may induce a rally towards 17,600," said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks to buy today as recommended by analysts -
Mehul Kothari, AVP -Technical Research at Anand Rathi
CAMS: Buy CAMS, stop loss ₹2,480, target ₹2,650
Zee Ent: Buy Zeel, stop loss ₹270, target ₹300
Anuj Gupta, Vice President - Research at IIFL Securities
ICICI Bank: Buy ICICI BANK, stop loss ₹862, target ₹910
IDFC First Bank: Buy IDFC FIRST BANK, stop loss ₹49, target ₹58
Manoj Dalmia, Founder & Director, Proficient Equities
Adani Ports: Buy Adani Ports, stop loss ₹810, target ₹825
Tata Steel: Buy Tata Steel, stop loss ₹103.6, target ₹105
Sumeet Bagadia, Executive Director at Choice Broking
Mindtree: Buy Mindtree, stop loss ₹3,250, target ₹3,450-3,500
Delta Corp: Buy Delta Corp, stop loss ₹221, target ₹240-245
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
