Stock market today: The Indian stock market extended its rally for the second straight day in Monday’s trade on strong global market sentiment. The 50-stock index Nifty 50 rose 189 points to close at 22,336 levels, the Bombay sensitive index BSE Sensex rose 560 points to close at 73,648 points, while the Bank Nifty index rose 189 points to close at 22,336 levels. It rose 350 points to end at the 47,924 level. However, the overall market index outperformed the Nifty 50 index. The small cap index rose 1.26% while the midcap index rose 0.93% in the last session.
Stock Market Today: Tuesday’s Trading Settings
Commenting on the outlook for Nifty today, Jatin Gedia, Technical Research Analyst, Sharekan, BNP Paribas, said, “The Nifty 50 index traded very volatilely on Monday. “We witnessed a pullback during trading.” On the daily chart, it can be observed that the Nifty index maintains an upward support channel and closes above it. A positive divergence in the hourly momentum indicator was confirmed. The price movement has been large and we expect the decline to continue over the next few trading sessions. The immediate hurdle for Nifty today lies at 22,300-22,500. On the downside, 22000 is an important support to watch. ”
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Commenting on the Bank Nifty outlook today, Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities said, “The Bank Nifty index remains bullish with follow-up buying from the lower levels. It has shown that it is now approaching a decisive resistance line.” Meanwhile, immediate support lies at the 47,600-47,500 level, suggesting a decline towards this support. The zone could present a buying opportunity. ”
Siddhartha Khemka, head of retail research at Motilal Oswal, said of the factors that could shape the Indian stock market today: “We will react. This week, the US will release its GDP and core index.” PCE data will give direction to the market, and we will also see some specific movements in stock prices as we head into earnings season. ”
Buy and sell stock ideas with experts
Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher. Durmil Visrani, technical research analyst at Bonanza Portfolio, recommended seven stocks to buy or sell today.
Sumeet Bagadia Stocks to Buy Today
1] LIC Housing Finance: buy at INR663.20, target INR706, stop loss INR640.
LIC Housing Finance stock is currently stock price. INR663.20 per piece. IC Housing Finance stock has recently formed an inverted head-and-shoulders breakout with a significant increase in trading volume, indicating a strong bullish trend. If the price somehow exceeds the INRIf you are at the 664 level, you have a chance of achieving your short-term goals. INR706. Meanwhile, the immediate support levels are: INR655. These levels can be considered a buying opportunity.
2]SBI: buy at INR766, target INR825, stop loss INR735.
SBI stock price is currently at a critical juncture in its trading trends. With a strong support base, INRThe stock has remained resilient as it has reached the 735 level, which is close to the 50-day exponential moving average (EMA).Trading at approx. INRThe SBI stock price is showing strength by remaining above the 766.10 level and major moving averages.
Shiju Koothupalakkal Stocks to Buy Today
3] tata motors: buy at INR1943, Goal INR2020, stop loss INR1905.
Tata Motors stock price is INR2313 level and is currently showing signs of bottoming out near the 2313 level. INRThere is a rebound in the 1873 zone and the daily chart looks very attractive with a favorable risk-reward ratio. The RSI showed that a trend reversal signals a buy signal from the oversold zone. Since the chart looks attractive with a good risk-reward ratio, further upside is expected and we recommend buying the stock at the initial target price. INRMaintain stop loss at 2020 level INR1905 level.
4]Larsen & Toubro or LT: buy at INR3610, target INR3770, stop loss INR3520.
LT stock receives support nearby INRThe 3470 level forms a double bottom formation on the daily chart, indicating a rebound above the important 50 EMA level. INRBias has been improved in 3590. The RSI has corrected quite significantly and is now in a good position, indicating a trend reversal that could be a buy signal. I recommend buying the stock as your first goal since the chart looks good technically. INRMaintain stop loss at 3770 level INR3520 levels.
5]DCAL: buy at INR230, target INR245, stop loss INR224.
Stocks witnessed a short correction before receiving support nearby INRThe 213 level indicates a higher low formation on the daily chart, witnessing a decline and above the important 50 EMA level. INRWe use the 226 zone to improve the bias and hope for further gains in the coming sessions. The RSI is in a good position, indicating a trend reversal and providing a buy signal. I recommend buying stocks with as your first goal. INRKeep stop loss at 245 level INR224 levels.
Buying and selling shares of Drumil Vithlani
6]Havells India: buy at INRFrom 1549 INR1551, target INR1597, stop loss INR1525.
The Havells stock price is seen to have broken out of its symmetrical pattern on the daily time frame and formed a strong bullish candlestick, thus triggering a Buy recommendation against the following targets: INRYou can start buying the push in the 1597 range. INRFrom 1547 INR1551 below stop loss INR1525 based on the day’s closing price. The price is trading above the short-term EMA (20), indicating an uptrend for the security. The RSI is currently trading in a northerly direction supporting price movements.
7]Triveni Engineering: buy at INRFrom 358 INR360, target INR372, stop loss INR354.50.
Triveni stock price is seen to have broken out of the channel pattern and formed a bullish candlestick on the daily time frame, thus triggering a buy recommendation against the following targets. INR372. You can start buying the dip within the range. INRFrom 358 INR360, with stop loss below INRBased on the day’s closing price, it was 354.50.
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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