Investing Essentials

These Five stocks to buy or sell today

20 Sep , 2021   By : Kanchan Joshi

These Five stocks to buy or sell today

 Nifty snapped its 3-day winning streak on Friday ending 44 points lower at 17,585 levels. The BSE Sensex too shed 125 points and closed at 59,015 levels. However, Small-cap and Mid-cap indices tumbled more than a per cent. After opening on an upside gap of 80 points on Friday, the market surged up in the early-mid part of the session and registered a new all time high of 17,792 levels. A massive profit booking emerged from the new highs and the weakness continued for rest of the session. According to market experts, this pattern signals counter attack bear type pattern. They went on to add that such negative patterns tend to occur during strong up trended moves and more often they get nullified in the subsequent sessions.

On a day when the NSE cash volumes breached Rs1 lakh crore; metals, realty, power, oil & gas and healthcare stocks shed the most while telecom and bank stocks surged the most.

Trade view on NSE Nifty

Speaking on the intraday trading strategies; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The market seems to have started with profit booking and volatility at the new highs. Having moved up sharply in the last few sessions, there is a possibility of consolidation or minor weakness in the coming sessions. Important support for NSE Nifty is placed at 17,400 and there is a possibility of upside bounce from the lower levels."

Day trading stocks for Monday

stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Manoj Dalmia, Director and Founder, Proficient Equities Private Limited and Ravi Singh, Founder & Director at DRS Advisory — recommended 5 shares to buy today.

Sumeet Bagadia's intraday stocks for today

1] HDFC Bank: Momentum buy at CMP, target Rs1620 to Rs1650, stop loss Rs1540

2] Maruti Suzuki India Ltd or MSIL: Buy at CMP, target Rs7200 to Rs7300, stop loss Rs6850

Manoj Dalmia's stock of the day

3] Manali Petrochemicals Ltd: Buy at Rs105.50, target Rs118, stop loss Rs98.50

Ravi Singh's stocks to buy today

4] Bharti Airtel: Buy at Rs727, target Rs750, stop loss Rs720

5] Wockhardt: Buy at Rs440, target Rs455, stop loss Rs435.

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