Day trading guide for Monday: 4 stocks to buy today — December 5
1 min read . Updated: 05 Dec 2022, 07:29 AM IST
Premium- The near-term uptrend status remains intact for Nifty as per smaller and larger timeframe charts, said analysts
Equity benchmark indices ended lower on Friday, halting their eight-day rally, amid a weak trend in global markets and emergence of profit-taking. The BSE Sensex fell 415 points to settle at 62,868.5. The NSE Nifty dipped 116.4 points to end at 18,696. In the broader market, the BSE midcap gauge settled 0.8% higher and smallcap index climbed 0.7%.
Meanwhile, for Monday, Indian indices may witness a higher start as SGX Nifty, Singapore Nifty that is the Indian Nifty traded in the Singapore Stock Exchange, indicates a flat to positive opening for the Indian stock market today.
Day trading guide for the stock market today -
“Nifty as per weekly chart, formed a long positive candle with upper shadow. The near-term uptrend status remains intact for Nifty as per smaller and larger timeframe charts and there is a possibility of an upside bounce from the lows in the next 1-2 sessions. Immediate support is placed at 18550-18450 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Over the near term, sentiment is likely to remain sideways, with 18,500-18,800 to be the crucial range. A decisive breakout from either band may induce a clean directional move in the market," said Rupak De, Senior Technical Analyst at LKP Securities.
On Nifty Banjk, Rupak De said," The daily RSI has entered a bearish crossover. Over the short term the trend is likely to remain sideways to negative. On the lower end, support is visible at 42,900/42,700. Resistance on the higher end is visible at 43,200/43,500."
Stocks to buy today as recommended by analysts -
Sumeet Bagadia, Executive Director at Choice Broking
MINT PREMIUM See All
Tech Mahindra: Buy TECH M, stop loss ₹1,090, target ₹1,135-1,150
Concor: Buy CONCOR, stop loss ₹760, target ₹800-820
Anuj Gupta, Vice President -Research at IIFL Securities
Tata Steel: BUY Tata Steel, stop loss ₹104, target ₹120
ONGC: BUY ONGC, stop loss ₹132, target ₹152
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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