Today’s Trading Guide for Tuesday: 8 Stocks to Buy or Sell Today – May 24
Shares closed lower on Monday after a volatile session, dragged down by a sell-off in metal stocks after the government imposed heavy export taxes on steel products. The BSE Sensex closed down 37.78 points at 54,288.61. On similar lines, the Nifty slipped 0.32% to end at 16,214.7.
In the broader market, BSE small caps were down 0.64% and mid caps were down 0.26%. Tata Steel was the biggest loser in the Sensex pack, falling more than 12%, followed by UltraTech Cement, ITC, PowerGrid, HDFC, HDFC Bank, HCL Tech and Reliance Industries (RIL).
Day trading guide for stock market today
“While we remain open to further bounces in the very short term, we must remember that the intermediate trend remains down. The bears would gain more control once the recent intermediate low of 15,735 is breached. Until then, enjoy of any rally until it lasts,” said Subash Gangadharan, Principal Technical and Derivatives Analyst, HDFC Securities.
Stocks to buy or sell today based on analyst recommendations –
Mehul Kothari, AVP – Technical Research at Anand Rathi
Wipro: Buy WIPRO, stop loss ₹453 target ₹485
Infosys: Buy INFY, stop loss ₹1,426, target ₹1,515
Anuj Gupta, Vice President – Research at IIFL Securities
Paytm: Buy PAYTM, stop loss ₹590 target ₹680
LIC: Buy LICI, stop loss ₹774 target ₹880
Sumeet Bagadia, Executive Director at Choice Broking
GAIL: Sell GAIL, stop loss ₹156.50 target ₹148
Indian hotel: Buy INDHOTEL, stop loss ₹221 target ₹245-250
Avinash Gorakshkar, Head of Research at Profitmart Securities
TVS Motor: Buy TVSMOTOR, stop loss ₹670 target ₹750
Voltas: Buy VOLTAS, stop loss ₹970 target ₹1,055
The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.