Day trading stocks to buy: Kotak Mahindra Bank to Tata Chem — Anand Rathi expert suggests three shares to buy today

Anand Rathi's banal picks

Ganesh Dongre, Senior Manager — Technical Research astatine Anand Rathi, believes the Indian banal marketplace whitethorn stay sideways arsenic the Nifty 50 scale closed beneath the important enactment astatine 22,500 to 22,600 zone. The Anand Rathi adept maintained that the 50-stock scale has captious enactment placed astatine the 22,200 to 22,100 mark, and immoderate stock-specific profit-booking tin not beryllium negated. On time trading stocks for today, Ganesh Dongre recommended 3 shares to bargain contiguous — Tata Chemical, Kotak Mahindra Bank, and Dr Lal Pathlabs.

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

Stock marketplace today

Speaking connected the outlook for the Indian banal marketplace today, Ganesh Dongre said, "On the Nifty 50 front, the 50-stock scale closed beneath the enactment level of 22500–22600 zone, which whitethorn support the question sideways for the Nifty successful the upcoming days. The adjacent absorption for the Nifty spot volition beryllium 22800-22900. As per today's illustration pattern, we person seen the spread opening and proceed its bullish trend, but 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, we whitethorn spot nett booking connected the stock-specific level successful the upcoming trading session; adjacent Nifty enactment stands astatine the 22100-22200 level."

Also Read: Buy oregon sell: Vaishali Parekh recommends 3 stocks to bargain contiguous — May 7

"On the Bank Nifty front, we person seen a gap-up opening today, but it couldn't clasp its summation and saw nett booking successful the indices till the extremity of the day. Bank Nifty absorption stands astatine 49000 and enactment astatine 48500 level," said Dongre.

Shares to bargain today

1] Tata Chemical: Buy astatine ₹1085, people ₹1135, halt nonaccomplishment ₹1055.

We person seen important enactment successful this stock, astir ₹1055. So, astatine the existent juncture, the banal has again seen a reversal terms enactment action astatine the ₹1085 terms level, which whitethorn proceed its rally till its adjacent absorption level of ₹1135. Hence, traders tin bargain and clasp this banal with a halt nonaccomplishment of ₹1055 for the people terms of ₹1135 successful the adjacent term.

2] Kotak Mahindra Bank: Buy astatine ₹1625, people ₹1675, halt nonaccomplishment ₹1590.

In the short-term trend, the banal has seen a bullish reversal pattern; technically, retrenchment could beryllium imaginable till ₹1675. So, holding the enactment level of ₹1590, this banal tin bounce toward ₹1675 successful the abbreviated term. Hence, the trader tin spell on with a halt nonaccomplishment of ₹1590 for the people terms of ₹1675.

3] Dr Lal Pathlabs: Buy astatine ₹2340, people ₹2360, halt nonaccomplishment ₹2280.

We person seen a caller breakout successful this stock, astir 2340 rupees. So, astatine the existent juncture, the banal has again seen a reversal terms enactment and bullish candlestick signifier enactment astatine the ₹2340 terms level, which whitethorn proceed its rally till its adjacent absorption level of ₹2360. So, traders tin bargain and clasp this banal with a halt nonaccomplishment of ₹2280 for the people terms of ₹2360 ₹in 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: 07 May 2024, 08:29 AM IST