Indian equities ended lower on Tuesday, as losses in metal stocks and heavyweight Reliance Industries (RIL) outweighed gains in auto and realty stocks. The benchmark BSE Sensex index ended 109.4 points lower at 60,029 whereas the NSE Nifty fell by 0.23% to 17,888.9.
Tata Steel was the top loser in the Sensex pack, shedding around 3 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries. On the other hand, Maruti, NTPC, Titan, SBI and L&T were among the gainers.
“Traders are advised not to trade aggressively in index and in case of a recovery towards the mentioned resistance zone of 18000 – 18100, one should lighten up existing longs. Also all eyes would be on Nifty Bank, because if Nifty has to reclaim these levels, it needs to continue its upwards trajectory with some intent,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.
For the coming session, Chavan expects the range bound move for Nifty to continue where 17,950-18,000 are likely to act as immediate hurdles and on the lower side, 17,800-17,700 are to be seen as key supports.
Stocks to buy today as recommended by analysts –
Sumeet Bagadia, Executive Director at Choice Broking
NTPC: Buy NTPC, Stop loss 132, Target 141-145
State Bank of India: Buy SBI , Stop loss 510, Target 530-540
Mudit Goel, Senior Research Analyst at SMC Global Securities
Tata Consumer: Buy Tata Consumer, Target 850, Stop loss 822
Ravi Singh, Head of Research & Vice President, ShareIndia
DMart: Buy D Mart at 4,590, Target 4,650, Stop loss 4,535
NCC: Buy NCC at 73, Target 78, Stop loss 71
Manoj Dalmia, Founder and Director, Proficient Equities Limited
Nandan Denim: Buy Nandan denim at 88, Target 96, Stop Loss 84
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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