Day trading guide for Monday: 6 stocks to buy today


Indian equities ended lower for the second straight session on Friday as BSE Sensex slipped 143 points at 58,644.82. Similarly, the NSE Nifty shed or 0.25% to close at 17,516. The indexes closed the week around 2.5% stronger after the government lifted spending to boost the pandemic-hit economy as announced in Budget 2022.

Eight of the top-10 most valued firms together added 1,51,456.45 crore in market valuation last week with TCS emerging as the biggest gainer. On the top 10 chart, Reliance Industries and HDFC were the only two companies that saw an erosion in their market valuation.

Stock markets are expected to witness volatility this week with domestic factors such as RBI policy decision and quarterly earnings being the driving factors, analysts said.

Day trading strategy for stock market today

“Nifty closed the week higher (up 2.42%) after two weeks of losses. However on daily charts, lack of buying enthusiasm amidst steady selling by FPIs resulted in Nifty ending in the negative. However, the fact that Nifty is correcting slowly raises hope of resurrection in the upmove in Nifty shortly. Nifty could remain in the 17,374-17,879 band over the next few days,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Stocks to buy today as recommended by analysts –

Sumeet Bagadia, Executive Director, Choice Broking

Sun Pharma: Buy Sunpharma, target 930, stop loss 880

State Bank of India: Buy SBI, target 580, stop loss 525

Anuj Gupta, Vice President, IIFL Securities

Steel Authority of India: Buy SAIL, target 112, stop loss 99

Raymond: Buy Raymond , target 820, stop loss 758

Avinash Gorakssakar, Head of Research, Profitmart Securities

Vedanta: Buy VEDL, target 370, stop loss 348

Marico: Buy Marico, target 528, stop loss 502

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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