Day trading guide for Tuesday: Indian stock market was not able to sustain the intraday gains on Monday and closed on a flat note. Nifty opened on an upside gap of 76 points, made an attempt to move up soon after the opening. It later shifted into range bound movement for some time and later showed sharp intraday weakness in the afternoon to later part of the session. According to experts, markets on Monday were not able to surpass the crucial resistance of 15,800 and showed weakness from the highs.
Volumes on the NSE were below recent averages. Among sectors — realty and banks gained the most while telecom & IT lost the most. BSE mid-cap and small-cap indices ended in the green.
Stocks to buy today
SGX Nifty today opening with a gap of 66 points and the markets not closing near its intraday low on Monday, indicates that bulls may bounce back when the market opens on Tuesday. On the basis of these expectations, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking, Rohit Singre, Senior Technical Analyst at LKP Securities and Sandeep Matta, Founder at TRADEIT Investment Advisors — have recommended these 7 shares to buy today.
Sumeet Bagadia’s stock picks
1] Federal Bank: Buy at ₹89, target ₹94 to ₹98, stop loss ₹86
2] Muthoot Finance: Buy at ₹1555, target ₹1600 to ₹1640, stop loss ₹1520
Rohit Singre’s picksn for Tuesday traders
3] NOCIL: Buy at ₹257, target ₹280 to ₹300, stop loss ₹below ₹241
4] Grasim: Buy at ₹1535, target ₹1560 to ₹1575, stop loss ₹below ₹1510
Sandep Matta’s stock recommendations
5] Adani Ports: Buy at ₹715, target ₹755, stop loss ₹692
6] Symphony: Buy at ₹1060, target ₹1150, stop loss ₹990
7] Gulf Oil: Buy at ₹684, target ₹712, stop loss ₹652.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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