Stocks to buy today: Coforge, Eicher Motors to Divi’s Lab — 7 buy or sell stock ideas by experts for intraday trading

  • Stocks to buy or sell: Experts have recommended seven shares to buy today — Divi's Laboratories, Eicher Motors, Coforge, Tatva Chintan, GRSE, Capacite, and Zensar Tech

Asit Manohar
Updated5 Apr 2024, 09:39 AM IST
Stock market today: The near-term uptrend of the Nifty 50 index remains intact and we observe smaller degree positive pattern like higher tops and bottoms as per daily timeframe chart, believe analysts.
Stock market today: The near-term uptrend of the Nifty 50 index remains intact and we observe smaller degree positive pattern like higher tops and bottoms as per daily timeframe chart, believe analysts.(Photo: iStock)

Stocks to buy or sell: Following strong global cues, the Indian stock market finished higher on Thursday. The Nifty 50 index hit a new high of 22,619 and ended 80 points up at the 22,514 level. The BSE Sensex gained 350 points and finished at the 74,227 mark whereas the Bank Nifty index ended 436 points northward at the 48,060 level. In the broad market, the small-cap index outperformed Nifty and Sensex by logging around a 0.54 percent rise in the previous session. However, the mid-cap index ended in the negative even as the advance-decline ratio remained above even at 1.78:1.

Stock market today

Speaking on the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The near-term uptrend of the Nifty 50 index remains intact and we observe smaller degree positive pattern like higher tops and bottoms as per daily timeframe chart. A decisive move above 22550-22600 levels could open the next upside towards 22,800 levels. Immediate support for Nifty today is placed at 22,300 levels."

Also Read: Day trading stocks: Anand Rathi expert recommends these three shares to buy today — April 5

On the outlook for the Bank Nifty today, Om Mehra, Technical Analyst at SAMCO Securities said, "The Bank Nifty index concluded the session at 48,060.80 with a gain of 0.92%. The index continued its ascent, maintaining higher highs and higher lows in the daily timeframe and positioning above all short-term key moving averages. Technically, Bank Nifty broke out of the symmetrical triangle pattern. The index has violated its prior resistance level of 48,161.2, indicating a strong bullish trend. Private banking stocks are showing strong support, especially from the heavyweight HDFC Bank. The index has immediate support at 47,600 and has resistance at 48,500 levels."

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 5

Buy or sell stock ideas by experts

On stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher; and Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio — recommended seven buy or sell stocks for today.

Sumeet Bagadia's stocks to buy today

1] Divi's Laboratories: Buy at 3734.20, target 4015, stop loss 3610.

Divi's Laboratories Ltd share price is currently trading at 3734.20 levels forming higher higher higher low formation on daily charts. The stock is demonstrating strength by trading above key Exponential Moving Averages (EMAs) including the 20, 50, and 200. This signifies a positive trend and suggests a favorable outlook.

2] Eicher Motors: Buy at 4014.30, target 4270, stop loss 3880.

Eicher Motors share price presently trading at 4014.30 levels, displays favorable technical indicators on the daily charts. The stock recently formed a bullish candle after establishing a supportive base near 3880, a level in proximity to both the 20 and 50-day Exponential Moving Averages (EMA). This convergence underlines the significance of the support zone, indicating a strong foundation for potential upward movement.

Shiju Koothupalakkal's buy or sell stocks

3] Tatva Chintan: Buy at 1245, target 1310, stop loss 1220.

The stock has witnessed a decent erosion on the daily chart since the peak zone of 2650 levels and recently has shown signs of bottoming out near the 1060 zone and thereafter, indication of a pullback has improved the bias to some extent. The RSI has shot up from the highly oversold zone indicating a trend reversal with much upside potential visible. One can accumulate the stock for an initial target of 1310 keeping the strict stop loss of 1220 levels.

4] GRSE: Buy at 888, target 950, stop loss 855.

The stock after the decent correction has bottomed out near the 674 zone and indicated a decent pullback to improve the base and thereafter, moving past the 50EMA and 100 periods MA has further strengthened the trend to anticipate for further rise in the coming days. The RSI on the rise has indicated strength to carry on with the positive move and we suggest buying the stock for an initial target of 950 keeping the stop loss of 855 level.

5] Coforge: Buy at 5819, target 6050, stop loss 5690.

Coforge share price has witnessed a decent erosion from 6850 levels and recently has found support near the important 200 period MA of 5500 zone where it has consolidated and currently indicating a pullback with much improvement in the bias witnessed. The RSI has recovered significantly from the highly oversold zone to indicate a trend reversal and signal a buy. With the chart looking attractive, we suggest buying the stock for an initial target of 6050 keeping the stop loss of 5690.

Drumil Vithlani's shares to buy today

6] Capacite Infraprojects: Buy at 290 to 291, target 305, stop loss 285.

CAPACITE is seen to be breaking out of a flag & pole on the daily time frame and making a Strong bullish candlestick which is why a buy recommendation is initiated for targets up to 305 One can initiate a buy on a dip in the range of 290-291 with stop loss below 285 on daily closing basis. The price is trading above the short-term EMA (20) indicating an uptrend in the security. The RSI is now trading in the northern direction supporting the price action.

7] Zensar Technologies: Buy at 627 to 628, target 650, stop loss 615.

Zensartech is seen to be breaking out of a rectangle pattern on the daily time frame and making a bullish candlestick which is why a buy recommendation is initiated for targets up to 650. One can initiate a buy-on dip in the range of 627 to 628 with a stop loss below 615 on a daily closing basis.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:5 Apr 2024, 09:39 AM IST
HomeMarketsStock MarketsStocks to buy today: Coforge, Eicher Motors to Divi’s Lab — 7 buy or sell stock ideas by experts for intraday trading

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