Investing Essentials

These 5 stocks to buy or sell today

08 Oct , 2021   By : Kanchan Joshi

These 5 stocks to buy or sell today

Indian stock market rebounded on Thursday after the sell-off seen on the previous trade session. NSE Nifty closed 144 points higher at 17,790 whereas BSE Sensex shot up 488 points and closed at 59,677 levels. Bank Nifty index gained 231 points and closed at 37,753 levels.

On a day when the volumes on the NSE were a little above recent average; realty, consumer durables and auto indices gained the most while oil & gas and telecom were the two indices that ended in the negative.

Trade view on NSE Nifty

Unveiling intraday trading strategy in regard to Nifty; Deepak Jasani, Head of Retail Research, HDFC Securities said, "Nifty formed a doji, which is appearing within the high low range of the previous day. Hence, this pattern does not have any predictive ability. A breach of Thursday's high i.e. 17,858 levels could lead to further upward move in the markets. 17,641 happen to be the support for the Nifty in the near term."

Speaking on what market can expect from today's RBI monetary policy committee meeting; Arijit Malakar, Head Research (Retail) at Ashika Stock Broking Ltd said, "Central bank is likely to keep interest rates unchanged and may retain the accommodative stance. Strong Q2FY22 business updates from corporate and banks indicate healthy earnings growth for corporate India in the 2nd quarter that will aid in sustaining the premium valuation for Indian markets in the coming time."

Day trading stocks to buy today

Sharing intraday trading stocks' list for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Dr Ravi Singh, Head of Research & Vice President at Share India and Manoj Dalmia, Director & Founder, Proficient Equities Private Limited — recommended 5 shares to buy today.

Sumeet Bagadia's intraday trading stocks' list

1] Escorts: Buy at CMP, target Rs1550 to Rs1570, stop loss Rs1475

2] Lemon Tree Hotels: Momentum buy at CMP, target Rs55 to Rs60, stop loss Rs47

Ravi Singh's stocks to buy today

3] ICICI Bank: Buy around Rs702, target Rs715, stop loss Rs695

4] Hindalco Industries: Buy at Rs477, target Rs488, stop loss Rs474

Manoj Dalmia's stock of the day

5] Aban Offshore: Buy at Rs54, target Rs61, stop loss Rs51.50.

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