Day trading stocks to buy: TCS to DLF — Anand Rathi expert recommends three shares to buy today

Anand Rathi's banal picks for today

Ganesh Dongre, Senior Manager — Technical Research astatine Anand Rathi, provides his adept investigation and recommendations for the Nifty 50 index. He believes that the scale has contiguous enactment placed astatine 22,200 to 22,100 zone. If the 50-stock scale maintains this support, past immoderate alleviation rally tin beryllium expected. Dongre besides predicts that Nifty whitethorn look a hurdle astatine 22,500 to 22,600 level. For time trading stocks, helium recommends 3 shares to bargain contiguous — TCS, HDFC Life, and DLF.

Also Read: Trade setup for banal marketplace today: Four stocks to bargain oregon merchantability connected Wednesday

Stock marketplace today

On the outlook for the Indian stock marketplace today, Ganesh Dongre of Anand Rathi said, "On the Nifty front, the 50-stock scale closed adjacent the enactment level of 22100–22200 zone, if Nifty holds this enactment level, past upward question tin beryllium seen for the Nifty successful the upcoming days. Now the adjacent absorption for the nifty spot volition beryllium 22500-22600. As per today's illustration pattern, we person seen the spread up opening but instantly Nifty has seen nett booking for the remainder of the day. So, indices closed successful antagonistic territory astatine the extremity of the day. So, connected the Nifty front, presently Nifty is into oversold zone, truthful we whitethorn spot abbreviated covering successful upcoming trading sessions, adjacent Nifty enactment stands astatine 22100-22200 level."

Also Read: Buy oregon sell: Vaishali Parekh recommends 3 stocks to bargain contiguous — May 8

"On the Bank Nifty front, we person seen a gap-up up opening today, but it couldn't clasp its summation and seen nett booking successful the indices till extremity of the day. Bank Nifty absorption stands astatine 49000 and enactment astatine 48000 level," said Dongre.

Shares to bargain today

1] TCS: Buy astatine ₹3975, people ₹4075, halt nonaccomplishment ₹3920.

With a large enactment successful TCS stock terms astir ₹3920, the existent reversal terms enactment action astatine the ₹3975 terms level could pb to a rally till its adjacent absorption level of ₹4075. This presents a imaginable accidental for traders to bargain and clasp TCS shares with a halt nonaccomplishment of ₹3920 for the people terms of ₹4075 successful the adjacent term.

2] HDFC Life: Buy astatine ₹552, people ₹572, halt nonaccomplishment ₹542.

In the short-term trend, HDFC Life stock terms has seen a bullish reversal pattern. Technically, a retrenchment could beryllium imaginable till ₹572. However, holding the enactment level of ₹542, this banal tin bounce toward ₹572 successful the abbreviated term. This investigation forms the ground of the proposal for traders to spell on with a halt nonaccomplishment of ₹542 for the people terms of ₹572.

3] DLF: Buy astatine ₹860, people ₹890, halt nonaccomplishment ₹840.

We person seen a beardown enactment successful DLF stock terms astir ₹840 rupees. So, astatine the existent juncture, DLF stock terms has again seen a reversal terms enactment and bullish candlestick signifier enactment astatine the ₹860 terms level, which whitethorn proceed its rally till its adjacent absorption level of ₹890. Hence, traders tin bargain and clasp this banal with a halt nonaccomplishment of ₹840 for the people terms of ₹890 successful the adjacent term.

Disclaimer: The views and recommendations provided successful this investigation are those of idiosyncratic analysts oregon broking companies, and not Mint. We powerfully counsel investors to consult with certified experts earlier making immoderate concern decisions, arsenic marketplace conditions tin alteration rapidly and idiosyncratic circumstances whitethorn vary.

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Published: 08 May 2024, 08:42 AM IST