Home / Markets / Stock Markets /  Day trading guide for Monday: 4 stocks to buy today — 20th June
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Indian shares ended lower on Friday to post their biggest weekly decline in more than two years, drubbed by worries that rapid increases in interest rates to tame stubborn inflation could derail economic growth. Investors were further hemmed in by unrelenting foreign fund outflows and rising crude oil prices.

The BSE Sensex declined 135 points to settle at an over one-year low of 51,360. Similarly, the NSE Nifty lost 0.4% to end at 15,293.5. In the broader market, the BSE smallcap gauge declined by 0.8% on Friday, while the midcap index dipped 0.6%.

Day trading guide for stock market today

“The market has been in a sharp down trend over the last 14-15 sessions. Minor consolidations or small upside bounces have resulted in a sharp weakness as of now. Hence, any upside bounce from here could be a sell on rise opportunity for the short term. On the higher side, the area of 15600 levels (mid part of Thursday's long bear candle) is expected to be a crucial overhead resistance ahead and is unlikely to be broken on the upside in a hurry. After a small upside bounce, the Nifty could slide down to the 15000-14800 levels in the near term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

“The fight between the bulls and the bears continued in the Bank Nifty index on the last day of the trading week. The index is trading in oversold territory and if holds the support of 32,500 can witness a pull-back rally towards the 33,500 level. The downside support if breached will lead to a fresh round of selling towards 30,000 levels," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Stocks to buy as recommended by analysts -

Mehul Kothari, AVP-Technical Research at Anand Rathi

Sun TV: Buy Sun TV, stop loss 420, target 455

Axis Bank: Buy Axis Bank, stop loss 623, target 655

Anuj Gupta, Vice President - IIFL Securities

ICICI Bank: Buy ICICI BANK, stop loss 646, target 730

HCL Tech: Buy HCL TECH, stop loss 918, target 1,010

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

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