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Business News/ Markets / Stock Markets/  Day trading guide: Titan, Coal India, Indian Hotels among stocks to buy today - March 15
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Day trading guide: Titan, Coal India, Indian Hotels among stocks to buy today - March 15

The short term trend of Nifty continues to be weak, as per analysts

Photo: iStockPremium
Photo: iStock

Sensex declined nearly 338 points to close below the 58,000 level on Tuesday, marking its fourth straight day of losses while Nifty declined 111 points or 0.65 per cent to end at a five-month low of 17,043.

Day trading guide for stock market today -

“The short term trend of Nifty continues to be weak. Having moved into oversold region, there is a possibility of upside bounce from near 17000-16800 levels in the short term. Immediate resistance is at 17250 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

“The overall trend remains bearish as prices are trading in a lower low formation but an immediate bounce back from current levels cannot be ruled out. The support for the Nifty is placed at around 16,950 –16,900 levels and resistance is capped at 17,400 – 17,500 levels," said Rohan Patil, Technical Analyst, SAMCO Securities.

“Nifty has been pricing in the US banking crisis and an impending rate hike of 25–50 basis points. Going forward, 16950 will likely act as crucial support for the index. Only a breakdown below 16950 may trigger further correction. On the higher end, resistance is visible at 17150-17200," 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 United spirit at 769, stop loss 755, target 790

BUY M&M financial at 243, stop loss 234, target 254

Anuj Gupta, Vice President & Research at IIFL Securities

Buy TITAN, stop loss 2290, target 2450

BUY BPCL, stop loss 309, target 345

Buy COALINDIA, stop loss 213, target 233

Sumeet Bagadia, Executive Director at Choice Broking

Buy CONCOR, stop loss 575, target 600-610

Buy Titan, stop loss 2320, target 2400-2425

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher

BUY INDIAN HOTEL at 315, stop loss 310, target 325

BUY CUMMINS at 1682, stop loss 1655, target 1717

BUY M&M FIN at 243, stop loss 239, target 252

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

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Published: 15 Mar 2023, 07:04 AM IST
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