Stock market today: The stock market is opening today after three days on Tuesday. The Sensex and Nifty 50 closed at a second consecutive session high on Friday, December 22. The Sensex gained 242 points to close at 71,106.96. On Friday, the Nifty also rose 94 points to close at 21,349.40. In such a scenario, stock market experts recommend buying six shares on today’s intraday stock.
Sumeet Bagdia, Executive Director, Choice Broking, Ganesh Dongre, Senior Manager Technical Research, Anand Rathi and Kunal Kamble, Senior Technical Analyst, Bonanza Portfolio suggest six stocks to buy today. Experts have also told at what rate to buy these stocks, what target to set and where to place the stop loss.
Sumeet Bagdia’s intraday stock
Eicher Motors: Buy this auto share at ₹4006 for a target of ₹4185 and set a stop loss of ₹3905.
Why buy: Currently it is at ₹4006. There is a strong bullish signal from current price with expectation of sustained upside move towards ₹4185 level. On the downside, there is support near ₹3905.
Apart from this the Relative Strength Index is currently at 55.94, indicating increasing buying momentum. Further, the Stochastic Relative Strength Index (Stoch RSI) is showing a positive crossover.
RHIM, Buy at ₹808, target at ₹833 and set stop loss at ₹790.
Why buy: RHIM’s daily chart analysis builds anticipation for the week ahead. The recent upward swing successfully broke the neckline, creating a new 52-week high for the stock.
Shares of Ganesh Dongre
Bharatforge: Buy it at ₹1203 for a target of ₹1220 and set a stop loss of ₹1190.
Why buy: This stock has a bullish reversal pattern in the short-term trend. Technically a correction up to Rs 1220 is possible, so it may bounce up to Rs 1220 while retaining the support level of 1190.
Ibulhsgfin: Buy at ₹211 and place a stop loss at ₹206 for a target of ₹218.
Why buy: The stock has shown a bullish reversal pattern on the short-term chart, so hold the support level of 206. This stock may jump to 218 level in short term.
Stock of Kunal Kamble
Patanjali Food: Buy at ₹1610-1621.65, target ₹1885, stop loss ₹1490
Why buy: A classical technical rising wedge pattern is forming in daily time frame in Patanjali Foods. The stock has taken the support of the slow EMA (200), indicating strong support, while the fast (50) and slow EMA are still moving upwards, indicating an uptrend. The RSI is trading in a higher range, indicating bullishness.
Laura’s Lab: Buy at ₹410-414, target ₹460, stop loss ₹397
Why buy: Laura’s Lab has given a breakout of the above symmetrical pattern showing a positive move with a volume spike.
,Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own and not those of Live Hindustan. Information about stock performance is provided here only, not investment advice. Investing in stock market is subject to risks and please consult your advisor before investing.)