Day trading guide: HDFC Bank, Federal Bank, 4 other stocks to buy today – December 28
Benchmark stock indices closed higher for a second straight day on Tuesday after a volatile session on gains in banking, IT and metal shares following a firm trend in the global markets. The BSE Sensex jumped 361 to settle at 60,927. Meanwhile, the Nifty climbed 0.65% to end at 18,132.
Metals led the sectoral gains, jumping over 4.2%, its biggest daily gains in over seven months. In the broader market, the BSE smallcap gauge climbed 1.46% and midcap index advanced 0.78%.
Day trading guide for stock market today –
“After a sharp downside breakout of crucial support like ascending trend line on Friday, Nifty witnessing decisive upside bounce in back to back two sessions indicates chances of false downside breakout of the said TL support. Hence, a sustainable move above 18,150-18,200 levels is likely to pull Nifty towards the next overhead resistance of 18,500 levels in the near term. Immediate support is placed at 17,960 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Nifty moved higher at the end of a volatile trading session, adding 0.65% to the previous closing. On the daily chart, the rally stopped at the 50EMA. As long as it remains above 18,070, the trend appears to be positive. On the higher end, the index may move up towards 18,350. Support on the lower end is placed at 18,070/17,950,” 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 HDFC Bank at ₹1,632, stop loss ₹1,590, target ₹1,720
BUY Affle at ₹1,050, stop loss ₹1,015, target ₹1,110
Anuj Gupta, Vice President – Research at IIFL Securities
Buy State Bank of India (SBI), stop loss ₹580, target ₹635
Buy Federal Bank, stop loss ₹127, target ₹142
Sumeet Bagadia, Executive Director at Choice Broking
Buy Bata, stop loss ₹1,610, target ₹1,670-1,680
Buy Asian Paints, stop loss ₹3,050, target ₹3,160-3,200
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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