Joshs Finance

Day trading guide for Tuesday: 5 stocks to buy today – August 16 | Mint – Mint

Indices extended gains as benchmark BSE Sensex rose by 130 points while Nifty extended gains for a fifth straight session in a range-bound trade on Friday as oil and gas, metal and power shares advanced in trade. Recovering from its early losses, the 30-share BSE index ended 130 points higher at 59,462 whereas NSE Nifty advanced 0.2% to close at 17,698. 

Broader markets were up, with the BSE midcap index advancing 0.15% and the smallcap gauge rising 0.39%. BSE power, oil & gas, metal and energy climbed up to 2.47 per cent, while IT, healthcare and auto suffered losses.

The key indices also registered their fourth straight week of gains as Sensex rose by 1,074 per cent or 1.8% and Nifty by 300 points or 1.9% on weekly basis. This week, equities will track global trends, inflation data, foreign fund flows and movement of crude oil prices in this holiday-shortened week, according to analysts.

Day trading guide for stock market today

“The short term trend of Nifty continues to be positive with range bound action. One may expect continuation of choppy movement for the early week and Nifty could possibly reach upside of around 17800-17900 levels by next week. Having placed at the hurdle, bulls needs to be cautious and long positions to be protected with proper stoplosses. Immediate support is placed at 17,560 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks to buy today as recommended by analysts –

Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd

Bharat Electronics: Buy BEL, stop loss 285, target 306

Ambuja Cement: Buy AMBUJA CEM, stop loss 375, target 404

Mehul Kothari, AVP-Technical Research at Anand Rathi

ICICI Bank: Buy icicibank, stop loss 855, target 900

Ambuja Cement: Buy Ambujacem, stop loss 375, target 400

Rajesh Bhosale, Technical Analyst, Angel One

Central Depository Services (India) Ltd: Buy CDSL, stop loss 1,149, target 1,300

Aditya Birla Fashion and Retail: Buy ABFRL, stop loss 275.8, target 315

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

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Leave a Comment

Your email address will not be published. Required fields are marked *