10 May , 2022 By : Kanchan Joshi
Equity benchmarks began the week on a downbeat note on Monday amid weak global cues while the rupee plunged to its lifetime low against the US dollar. The BSE Sensex shed 364.9 points to close at 54,470. Similarly, the NSE Nifty tumbled 0.67% to end at 16,301.8. In the broader market, the BSE smallcap gauge declined 1.67% and the midcap index dipped 1.89% on Monday.
Day trading guide for stock market today
“The underlying short term trend of Nifty continues to be negative and still there is no confirmation of any bottom reversal as of now. As long as the market clearly shows sustainable upside in the next 1-2 sessions, the chances of upside bounce is unlikely. Any upside bounce from here could be short lived and that could be a sell on rise opportunity. The near term downside target for the Nifty remains at 15700 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Mehul Kothari, AVP - Technical Research at Anand Rathi
Axis Bank: Buy AXISBANK, stop loss Rs630, target Rs715
TCS: Buy TCS, stop loss Rs3,300, target Rs3,600
Rajesh Bhosale, Technical Analyst, Angel One Ltd
Power Grid: Buy POWERGRID, stop loss Rs238, target Rs259
Indus Tower: Buy INDUSTOWER, stop loss Rs199, target Rs210
Avinash Gorakshkar, Head of Research at Profitmart Securities
M&M: Buy M&M, stop loss Rs870, target Rs945
Cipla: Buy CIPLA, stop loss Rs915, target Rs990
Anuj Gupta, Vice President - Research at IIFL Securities
HCL Tech: Buy HCLTECH, stop loss Rs1,035, target Rs1,140
Bank of Baroda: Buy BANKBARODA, stop loss Rs87, target Rs115
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