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Day trading guide for Wednesday: Stocks rose in a volatile session on Tuesday, led by gains in metals and auto stocks, as healthy corporate results and optimistic global signals rekindled risk appetite after the recent period of weakness. The bluechip NSE Nifty 50 index ended at 18,268.4, while the benchmark BSE Sensex rose 0.63% to 61,350.
Tata Steel topped the earnings list on the Sensex, up 3.92 percent, followed by Titan, Nestle India, Bajaj Finance, Tech Mahindra, Kotak Bank and Reliance Industries. Heavyweight Reliance Industries accounted for about half of the benchmark’s gains.
On the other hand, IndusInd Bank, ICICI Bank, PowerGrid, HUL, NTPC, Dr. Reddy’s and Axis Bank were among the stragglers, with a loss of up to 1.92 percent. The metals index rose 2.9%, supported by higher steel prices, while the auto index gained 2%.
SGX Nifty points to a choppy opening for Indian stocks on Wednesday. Singapore Nifty (SGX Nifty) is the Indian Nifty traded on the Singapore Stock Exchange and is considered a likely first indication of the Indian markets opening.
Stocks to buy today as recommended by analysts
Sumeet Bagadia, Executive Director at Choice Broking
BEL: Buy BEL, Stop Loss 200, Target 212-215
Aurobindo Pharma: Buy Auropharma, Stop Loss 680, Target 720-730
Manoj Dalmia, Founder and Director, Proficient Equities Limited
Nippon Electricals: Buy India Nippon Elect at 432, Target 465, Stop Loss 419
Ravi Singhal, Vice Chairman, GCL Securities Limited
IDFC First Bank: Buy IDFC First Bank 53, Stop Loss 52, Target 57
Ravi Singh, Head of Research and Vice President, ShareIndia
BHEL: Buy BHEL at 71, Target Price, 76, Stop Loss 69.50
Tata Chemical: Buy Tata Chemical at 1000, Target Price 1150, Stop Loss 950
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, not Mint.
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