15 Mar , 2022 By : Kanchan Joshi
Equity indices marched higher for the fifth session on the trot on Monday, propelled by robust buying in banking and IT counters along with a decline in crude oil prices as hopes of headway in Russia-Ukraine talks boosted risk-on sentiment globally. The NSE Nifty 50 index closed up 1.45% at 16,871, while the BSE Sensex gained 1.68% to end at 56,486.
Infosys topped the Sensex gainers' chart, followed by HDFC Bank, SBI, Maruti Suzuki, Axis Bank, ICICI Bank, Wipro and HDFC, among the other prominent winners. Only four Sensex constituents, HUL, Sun Pharma, Dr Reddy's and Tata Steel, closed with losses.
Day trading guide for stock market today
"The short term trend of Nifty continues to be positive. The market is now showing an early signs of decisive upside breakout of cluster resistance of around 16800-17000 levels. A strong upside breakout could bring upper levels of 17500 in a quick period of time. Any failure to sustain above 16800 levels in the next 1-2 sessions could trigger another round of downward correction from the highs. Immediate support is placed at 16750 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Anuj Gupta, Vice President, IIFL Securities
Titan: Buy Titan, target Rs2,600, stop loss Rs2,475
Tata Teleservices: Buy TTML, target Rs125, stop loss Rs103
Avinash Gorakshkar, Head of Research at Profitmart Securities
Cummins: Buy CUMMINSIND, target Rs1,075, stop loss Rs1,010
Hindalco: Buy HINDALCO, target Rs616, stop loss Rs578
Sumeet Bagadia, Executive Director, Choice Broking
Bajaj Auto: Buy Bajaj Auto, target Rs3,600, stop loss Rs3,375
Shriram Transport Finance: Buy SRTRANSFIN, target Rs1,170-1,200, stop loss Rs1,075
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