Extending gains for a third day in a row, benchmark Sensex and Nifty on Wednesday rallied over 1% to end at over six-week high levels on buying in RIL, Infosys, HDFC twins and ICICI Bank. The BSE Sensex surged by 740 points to settle at 58,683.9. The NSE Nifty climbed 172 points to close at 17,498, the highest closing level since February 10.
Day trading guide for stock market today
“Nifty is now making an attempt to stage upside breakout of the last 7-8 sessions sideways range at 17000-17450 levels. The immediate resistance of 17490 of previous lower top has been surpassed on the upside marginally. This is positive indication," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
"The short term trend of Nifty continues to be positive. A sustainable move above 17500 levels could be considered as an upside breakout of the range movement and also an immediate hurdle. This could pull Nifty towards the upside target of 17800-18000 levels in the near term. Immediate support is placed at 17350," Shetti added.
Stocks to buy today as recommended by analysts -
Mehul Kothari, AVP – Technical Research, Anand Rathi
Britannia: Buy Britannia, target ₹3,300, stop loss ₹3,050
Gujarat Gas: Buy GUJGAS, target ₹510, stop loss ₹480
Rohit Singre, AVP - Research at Bonanza Portfolio
Bajaj Finserv: Buy Bajaj Finserv, target ₹17700, stop loss 16700
Avinash Gorakshkar, Head of Research at Profitmart Securities
DLF: Buy DLF, target ₹400, stop loss ₹370
M&M: Buy M&M, target ₹830, stop loss ₹775
Sumeet Bagadia, Executive Director at Choice Broking
HDFC Life: Buy HDFC Life, target ₹560-570, stop loss ₹525
Ambuja Cement: Buy Ambujacem, target ₹315-320, stop loss ₹290
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
