Day trading guide for Monday: 7 stocks to buy today — 2nd May
1 min read . Updated: 02 May 2022, 07:47 AM IST
Premium- The Nifty 50 index was down 0.8% at 17,102 at close, and the BSE Sensex fell 0.8% to 57,060 on Friday
Benchmark BSE Sensex plunged by 460 points on Friday due to profit booking in banking, IT, and energy shares in the pre-close session. The Nifty 50 index was down 0.8% at 17,102 at close, and the BSE Sensex fell 0.8% to 57,060.
The benchmark indexes have lost more than 2% in April, hurt by weak earnings from domestic technology firms, fears over the fallout of the Ukraine war, surging inflation and strong policy tightening signals from the Fed.
Day trading guide for stock market today
“The pattern of one day up and down continued in the market within a broad high low range of 17400-16800 levels. The sharp intraday downward reversal of Friday from near upper range could signal probability of Nifty revisiting the lower range of 16900-16800 levels by next week. The possibility of sharp downside breakout of the said range and also a significant lower support of 16800 is getting higher in the near term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Rajesh Bhosale, Technical Analyst, Angel One Ltd
Tata Consumer: Buy TATACONSUM, stop loss ₹811, target ₹849
Asian Paints: Buy ASIANPAINTS, stop loss ₹3,170, target ₹3,380
Mehul Kothari, AVP – Technical Research, Anand Rathi
Genus Power: Buy GENUSPOWER near ₹102, stop loss ₹95, target ₹114
Tata Communications: Buy TATACOMM above ₹1,110, stop loss ₹1,070, target ₹1,175
Rohit Singer, AVP - Research at Bonanza Portfolio
Coforge: Buy coforge, target ₹4,400, stop loss ₹4,100
Avinash Gorakshkar, Head of Research at Profitmart Securities
Tata Motors: Buy TATAMOTORS, stop loss ₹424, target ₹470
HUL: Buy HINDUNILVR, stop loss ₹2,200, target ₹2,380
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
