Day trading stocks to buy: Adani Power to PNB — Anand Rathi expert recommends three shares to buy today — May 2

Anand Rathi's banal recommendations

Ganesh Dongre, Senior Manager — Technical Research astatine Anand Rathi believes that the Nifty 50 scale is successful overbought information and determination tin beryllium immoderate profit-booking successful the 50-stock scale during Thursday deals. Ganesh Dongre of Anand Rathi went connected to adhd that Nifty contiguous is facing a hurdle astatine 22,800 to 22,900 levels and the Indian banal marketplace trends whitethorn stay sideways to affirmative till the 50-stock frontline scale remains successful the 22,500 to 22,900 range. On time trading stocks for today, Ganesh Dongre recommended 3 stocks to bargain contiguous — Adani Power, IndusInd Bank, and PNB.

Stock marketplace today

On the outlook for Nifty today, Ganesh Dongre said, "On the Nifty front, we are present closed astatine the absorption level of 22500–22600 zone, which whitethorn support the question sideways for the Nifty successful the upcoming days. Now the adjacent absorption for the Nifty spot volition beryllium 22800-22900. As per today's illustration pattern, we person seen the spread up opening and proceed its bullish inclination for the remainder of the time but astatine the extremity of the day, we person besides seen nett booking successful the Nifty and Bank Nifty index, which was closed successful antagonistic territory. So, connected the Nifty front, we whitethorn spot nett booking connected the stock-specific level successful the upcoming trading session, arsenic the scale is successful an overbought condition."

"On the Bank Nifty front, we person seen a gap-up opening connected Tuesday, and proceed its bullish inclination for the full day, truthful for the upcoming trading session, Bank Nifty enactment volition beryllium astatine the 48,000 level and absorption volition beryllium astatine the 49,500 level," said Dongre.

Shares to bargain today

1] Adani Power: Buy astatine ₹613, people ₹640, halt nonaccomplishment ₹600.

We person seen a large enactment successful Adani Power shares astir 600 rupees. So, astatine the existent juncture, Adani Power stock has again seen a reversal terms enactment action astatine the ₹613 terms level, which whitethorn proceed its rally till its adjacent absorption level of ₹640. Hence, traders tin bargain and clasp this banal with a halt nonaccomplishment of ₹600 for the people terms of ₹640 successful the adjacent term.

2] IndusInd Bank: Buy astatine ₹1512, people ₹1550, halt nonaccomplishment ₹1490.

In the short-term trend, IndusInd Bank stock has seen a bullish reversal pattern, technically retrenchment could beryllium imaginable till ₹1550. So, holding the enactment level of ₹1490 this banal tin bounce toward the level of ₹1550 successful the abbreviated term. Hence, the trader tin spell on with a halt nonaccomplishment of ₹1490 for the people terms of ₹1550.

3] Punjab National Bank oregon PNB: Buy astatine ₹140, people ₹148, halt nonaccomplishment ₹134.

We person seen a caller breakout successful PNB stock terms of astir 140 rupees. So, astatine the existent juncture, the banal has again seen a reversal terms enactment and bullish candlestick signifier enactment astatine the ₹140 terms level, which whitethorn proceed its rally till its adjacent absorption level of ₹148. Hence, traders tin bargain and clasp this banal with a halt nonaccomplishment of ₹134 for the people terms of ₹148 successful the adjacent term.

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 02 May 2024, 08:56 AM IST