03 Jan , 2022 By : Kanchan Joshi
Day trading stocks: As the stock market today ushers in the New Year, investors are looking forward to nibble into the quality stocks that are available at discounted price. For such stock market investors, 3 stocks — Amara Raja Batteries, Gulf Oil Lubricants and Aurobindo Pharma can be good day trading stocks to buy today as all these stocks are near to its 52-week lows. According to stock market investors, all the 3 stocks are signaling bounce back from its recent lows and one can buy these stocks today when the market opens for first session of 2022.
1] Amara Raja Batteries: Share price of this company is around 50 per cent lower from its 52-week high of Rs1,025.55 apiece levels on NSE. Amara Raja Batteries share price today is around Rs645, near Rs61 higher from its 52-week low of Rs584.25 per share levels.
2] Gulf Oil Lubricants: Shares of the company are around 460 levels, near Rs35 higher from its 52-week low of rs425 apiece levels. Currently, it is 45 per cent lower from its 52-week high of Rs827 levels.
3] Aurobindo Pharma: Shares of the company is currently available at Rs730 on NSE, which is around rs110 higher from its 52-week low of Rs620 and near Rs334 lowr from its 52-week high of Rs1063.90 levels.
Speaking on day trading stocks for today; Sumeet Bagadia, Executive Director at Choice Broking said, "All these 3 stocks are quality stocks and look positive on chart pattern. Amara Raja Batteries share price may go up to Rs700 to Rs730 levels up to 4 months whereas Gulf Oil Lubricants share price may go up to Rs550 levels in the same period. Both the stocks are giving bounce back signals from its recent lows and one can add both the stock in one's portfolio." Bagadia advised stop loss at rs580 in Amara Raja Batteries and Rs400 in Gulf Oil Lubricants.
However, he said that out of these three, Aurobindo Pharma is expected to outperform other two stocks as the stock is expected to give breakout at Rs760 levels. He said that the pharma company stock may go up to Rs900 levels in next 1-2 months and advised positional investors to add Aurobindo Pharma shares in one's portfolio at current levels maintaining stop loss at Rs650 per share levels.
Echoing with Sumeet Bagadia's views; Ravi Singhal, Vice Chairman at GCL Securities said, "All the 3 stocks are looking attractive but when it comes to adding these stocks in one's portfolio, I would advised investors to prefer at Aurobindo Pharma and Amara Raja Batteries ahead of Gulf Oil Lubricants shares."
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