Day trading guide for Wednesday: Infosys, CG Power, Tata Steel, IEX among 9 stocks to buy today – February 22
Equity benchmark indices Sensex and Nifty ended marginally lower in a highly volatile trade on Tuesday. The BSE Sensex edged down 18 points to settle at 60,672.7 whereas the NSE Nifty slipped 0.1% to end at 17,826.7. In the broader market, the BSE smallcap gauge dipped 0.31% and midcap index declined 0.21%.
Day trading guide for stock market today
“The positive chart pattern like higher tops and bottoms is intact and present weakness could be in line with the formation of new higher bottom of the sequence. But, still there is no confirmation of any higher bottom reversal at the lows. There is a possibility of an upside bounce in the market from near the support of 17700-17750 levels. Immediate resistance is placed at 17950-18000 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Nifty ended flat following a volatile trading session. The bias remains negative as it falls back into the descending channel on the daily chart. Besides, the momentum oscillator RSI has entered a bearish crossover. On the lower end, immediate support is visible at 17750, below which the selling pressure may increase,” said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks to buy today as recommended by analysts –
Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi
BUY Infosys at ₹1,555, stop loss ₹750, target ₹1,630
BUY CG power at ₹320, stop loss ₹315, target ₹330
Sumeet Bagadia, Executive Director at Choice Broking
Buy Tata Consumer, stop loss ₹715, target ₹740-750
Buy Marico, stop loss ₹490, target ₹510-515
Anuj Gupta, Vice President – Research at IIFL Securities
Buy NTPC, stop loss ₹164, target ₹190
Buy Tata Steel, stop loss ₹107, target ₹120
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher
BUY IRB INFRA at ₹297, stop loss ₹290, target ₹314
BUY IEX at ₹144, stop loss ₹140, target ₹155
BUY VOLTAS at ₹895, stop loss ₹880, target ₹935
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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