Stocks to buy today: After world stocks hugged close to record highs on Monday, Indian indices ended higher for the second consecutive day on Monday. The Nifty opened higher with a gap up, rose to remain in a band through the day and closed near its intraday high. At close, the NSE Nifty was up 112.20 points at 15,834. However, volumes on the NSE remained subdued. Among sectors, Realty, Metals and Banks were the main gainers, while Power was the lone loser. BSE mid-cap and small-cap indices rose 0.3 per cent and 0.8 per cent respectively. According to experts, Indian stock market has some more upside potential in the near term. They said that 15,870 to 15,915 could be the next resistance for the Nifty while 15,777 could be its immediate support.
Expecting volume expansion in the market stock market experts advised investors to buy these shares when the market opens on Tuesday:
Speaking on shares to buy today Sumeet Bagadia, Executive Director at Choice Broking said, “Today investors or traders can buy SBI and Godrej Properties shares.”
Here are the levels that Sumeet Bagadia of Choice Broking advised while taking position in his suggested counters:
1] SBI or State Bank of India: Buy at ₹430, target ₹445 to ₹450, stop loss at ₹419
2] Godrej Properties: Buy at ₹1440, target ₹1500 to ₹1550, stop loss at ₹1390
Sharing on his stocks picks of the day Ravi Singhal, Vice Chairman at GCL Securities said, “One can look at Muthoot Finance, delta Corp and Hindalco Industries shares, if there is any plan to add some stock in one’s portfolio.”
Here are the levels that Ravi Singhal advised while taking position in his suggested counters:
3] Muthoot Finance: Buy at ₹1565, target ₹1600, ₹1650 and ₹1700, stop loss at ₹1500
4] Delta Corp: Buy at CMP, target ₹204, ₹216 and ₹219, stop loss at ₹184
5] Hindalco Industries: Buy at CMP, target ₹400, ₹415 and ₹435
On his stock pick of the day Sandeep Matta, Founder at TRADEIT Investment Advisors said that he has only one stock to suggest investors and the stock he names is IDFC First Bank.
Here are the levels that Sandeep Matta advised while taking position in his suggested counters:
6] IDFC First Bank: Buy at CMP, target ₹60 to ₹64, stop loss at ₹45
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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