Share Market Tips: US stock markets closed with heavy losses on Thursday. In such a situation, if it affects the local market today, there may be upheaval here as well. If you are into intraday trading, today’s stock market experts for you are Sumit Bagdia, Executive Director, Choice Broking, Ganesh Dongre, Senior Manager, Technical Research, Anand Rathi and Pravesh Gaur, Senior Technical Analyst, Swastik InvestMart, Today’s Buy or Sell . Strategy for you. 6 stocks are recommended for sale.
Sumit Bagdia stock today intraday
Asian Paints: Buy at ₹3225 and target ₹3360. Don’t forget to place a stop loss of ₹3140 on this stock.
Why buy: Based on a comprehensive technical analysis of Asian Paints, it is suggested that there are potential trading opportunities. The stock is currently trading at ₹3225, which has established strong support near ₹3150. Notably, Asian Paints has displayed a favorable break above its 100-day and 200-day exponential moving averages, indicating a positive change in its trend movement.
Also Read: Falling storm in US stock markets may also affect Sensex-Nifty
Tata Chemical: Buy at ₹1015.65, target ₹1060 with a stop loss of ₹985.
Why to buy: Tata Chemicals stock has bounced back from the support level of ₹992 which is also the 200-day EMA and has cleared the initial resistance of ₹1010 which is also the 20-day EMA. Currently, the stock is at the level of ₹1015.65. The RSI indicator is also trading comfortably around the 53 level which may help the share price move higher.
Buy Ganesh Dongre shares today
Rec: Buy at ₹242, target at ₹248 and stop at ₹238.
Why buy: Stock has a bullish reversal pattern in short term trend, technically a retest upto ₹248 level is possible, hence stock may rally towards ₹248 level in short term, keeping support near ₹238 level. Hence, one can go long with a stop loss of ₹238 for a target price of ₹248.
Mahindra & Mahindra Finance: Buy at ₹305, target ₹313 and stop at ₹298.
Why to buy: The stock has shown a bullish reversal pattern on the short-term chart, so it may rally towards the ₹313 level in the near term, retaining the support near ₹298. Hence can go long with a stop loss of ₹298 for a target price of ₹313.
Pravesh Gaur’s Day Trading Stocks
APL Apollo Tubes: Buy at ₹1655, target at ₹1700, stop loss at ₹1625.
Why buy: The counter continues to make higher higher highs and higher lower lows and has a breakout of an ascending channel formation with strong volume.
JK Paper: Buy at ₹380 and target ₹395 with a stop loss of ₹369.
Why buy: The counter has seen a breakout of trend-line resistance and closed above its important moving average (200-DMA).
Disclaimer: The views and recommendations given above are those of individual analysts or broking firms and not of Hindustan. We advise investors to check with certified experts before making any investment decision.