31 Mar , 2022 By : Kanchan Joshi
Extending gains for a third day in a row, benchmark Sensex and Nifty on Wednesday rallied over 1% to end at over six-week high levels on buying in RIL, Infosys, HDFC twins and ICICI Bank. The BSE Sensex surged by 740 points to settle at 58,683.9. The NSE Nifty climbed 172 points to close at 17,498, the highest closing level since February 10.
Day trading guide for stock market today
“Nifty is now making an attempt to stage upside breakout of the last 7-8 sessions sideways range at 17000-17450 levels. The immediate resistance of 17490 of previous lower top has been surpassed on the upside marginally. This is positive indication," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
"The short term trend of Nifty continues to be positive. A sustainable move above 17500 levels could be considered as an upside breakout of the range movement and also an immediate hurdle. This could pull Nifty towards the upside target of 17800-18000 levels in the near term. Immediate support is placed at 17350," Shetti added.
Stocks to buy today as recommended by analysts -
Mehul Kothari, AVP – Technical Research, Anand Rathi
Britannia: Buy Britannia, target Rs3,300, stop loss Rs3,050
Gujarat Gas: Buy GUJGAS, target Rs510, stop loss Rs480
Rohit Singre, AVP - Research at Bonanza Portfolio
Bajaj Finserv: Buy Bajaj Finserv, target Rs17700, stop loss 16700
Avinash Gorakshkar, Head of Research at Profitmart Securities
DLF: Buy DLF, target Rs400, stop loss Rs370
M&M: Buy M&M, target Rs830, stop loss Rs775
Sumeet Bagadia, Executive Director at Choice Broking
HDFC Life: Buy HDFC Life, target Rs560-570, stop loss Rs525
Ambuja Cement: Buy Ambujacem, target Rs315-320, stop loss Rs290
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