02 May , 2022 By : Kanchan Joshi
Benchmark BSE Sensex plunged by 460 points on Friday due to profit booking in banking, IT, and energy shares in the pre-close session. The Nifty 50 index was down 0.8% at 17,102 at close, and the BSE Sensex fell 0.8% to 57,060.
The benchmark indexes have lost more than 2% in April, hurt by weak earnings from domestic technology firms, fears over the fallout of the Ukraine war, surging inflation and strong policy tightening signals from the Fed.
Day trading guide for stock market today
“The pattern of one day up and down continued in the market within a broad high low range of 17400-16800 levels. The sharp intraday downward reversal of Friday from near upper range could signal probability of Nifty revisiting the lower range of 16900-16800 levels by next week. The possibility of sharp downside breakout of the said range and also a significant lower support of 16800 is getting higher in the near term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Rajesh Bhosale, Technical Analyst, Angel One Ltd
Tata Consumer: Buy TATACONSUM, stop loss Rs811, target Rs849
Asian Paints: Buy ASIANPAINTS, stop loss Rs3,170, target Rs3,380
Mehul Kothari, AVP – Technical Research, Anand Rathi
Genus Power: Buy GENUSPOWER near Rs102, stop loss Rs95, target Rs114
Tata Communications: Buy TATACOMM above Rs1,110, stop loss Rs1,070, target Rs1,175
Rohit Singer, AVP - Research at Bonanza Portfolio
Coforge: Buy coforge, target Rs4,400, stop loss Rs4,100
Avinash Gorakshkar, Head of Research at Profitmart Securities
Tata Motors: Buy TATAMOTORS, stop loss Rs424, target Rs470
HUL: Buy HINDUNILVR, stop loss Rs2,200, target Rs2,380
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