03 Nov , 2021 By : Kanchan Joshi
Indian equities ended lower on Tuesday, as losses in metal stocks and heavyweight Reliance Industries (RIL) outweighed gains in auto and realty stocks. The benchmark BSE Sensex index ended 109.4 points lower at 60,029 whereas the NSE Nifty fell by 0.23% to 17,888.9.
Tata Steel was the top loser in the Sensex pack, shedding around 3 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries. On the other hand, Maruti, NTPC, Titan, SBI and L&T were among the gainers.
“Traders are advised not to trade aggressively in index and in case of a recovery towards the mentioned resistance zone of 18000 – 18100, one should lighten up existing longs. Also all eyes would be on Nifty Bank, because if Nifty has to reclaim these levels, it needs to continue its upwards trajectory with some intent," said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.
For the coming session, Chavan expects the range bound move for Nifty to continue where 17,950-18,000 are likely to act as immediate hurdles and on the lower side, 17,800-17,700 are to be seen as key supports.
Stocks to buy today as recommended by analysts -
Sumeet Bagadia, Executive Director at Choice Broking
1. NTPC: Buy NTPC, Stop loss Rs132, Target Rs141-145
2. State Bank of India: Buy SBI , Stop loss Rs510, Target Rs530-540
Mudit Goel, Senior Research Analyst at SMC Global Securities
3. Tata Consumer: Buy Tata Consumer, Target Rs850, Stop loss Rs822
Ravi Singh, Head of Research & Vice President, ShareIndia
4. DMart: Buy D Mart at Rs4,590, Target Rs4,650, Stop loss Rs4,535
5. NCC: Buy NCC at Rs73, Target Rs78, Stop loss Rs71
Manoj Dalmia, Founder and Director, Proficient Equities Limited
6. Nandan Denim: Buy Nandan denim at Rs88, Target Rs96, Stop Loss Rs84
0 Comment