Day trading guide for Monday: 6 stocks to buy today — 28th February
Premium- The BSE Sensex climbed 1,328 points to settle at 55,858 whereas Nifty 50 rose 2.5% to 16,658 on Friday
Indian equities snapped a 7-day losing streak, and bounced back to close more than 2% higher on Friday, a day after their worst fall in over a year following the escalation of Russia-Ukraine conflict. The BSE Sensex climbed 1,328 points to settle at 55,858 whereas Nifty rose 2.5% to 16,658 on Friday as the US and allies put up a united front to punish Russia with harsher sanctions over the Ukraine conflict.
The Ukraine crisis, which has spooked financial markets globally, will set the tone for Dalal Street this week amid concerns over energy prices and foreign fund outflows, as per analysts, along with key macroeconomic data like GDP estimates and PMI data which are to be announced this week.
Day trading guide for stock market today
“The sharp comeback of market on Friday could be a cheering factor for bulls to make a comeback. But, the crucial overhead resistance of around 16700-16800 levels could be a tough task to sustain the highs. Further upside from here is likely to encounter the resistance in the short term and one may expect weakness emerging from the lower highs. Immediate support is placed at 16500 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Anuj Gupta, Vice President, IIFL Securities
Axis Bank: Buy Axis Bank, target ₹800, stop loss ₹728
Tata Power: Buy Tata Power, target ₹250, stop loss ₹205
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Sumeet Bagadia, Executive Director, Choice Broking
Dabut: Buy Dabur, target ₹560-570, stop loss ₹530
BEL: Buy BEL, target ₹210-215, stop loss ₹190
Avinash Gorakshkar, Head of Research at Profitmart Securities
ICICI Bank: Buy ICICI Bank at, target ₹758, stop loss ₹716
Tata Consumer: Buy TATACONSUM target ₹750, stop loss ₹690
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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