Day Trading Guide For Monday: 8 Stocks To Buy Or Sell Today — 16th May | Mint – Mint

Indian equities closed in the red for the sixth straight session on Friday dragged by heavy selling pressure in banking stocks. The 30-share BSE Sensex closed 136 points lower at 52,793 while the broader NSE Nifty dipped 0.16% to settle at 15,782. The indexes logged their fifth straight week of losses.

State Bank of India (SBI) was the top laggard after the country’s largest lender reported a 41% surge in Q4 standalone net profit at 9,114 crore but failed to meet analysts’ estimates.

Day trading guide for stock market today

“The short term trend of Nifty continues to be negative with high volatility. There is a possibility of further weakness from here or from the highs and the immediate support of 15,670 could be broken in the next week. The presence of crucial support as per monthly timeframe and the overall weekly chart pattern indicate a chances of important bottom reversal around 15,500-15,400 levels. The confirmation of reversal pattern on daily chart could only open a sustainable upside bounce in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks to buy or sell today as recommended by analysts –

Mehul Kothari, AVP – Technical Research at Anand Rathi

ABB: Buy ABB above 2,300, stop loss 2,225, target 2,450

Balrampur Chini: Buy BALRAMCHNI, stop loss 375, target 425

Rajesh Bhosale, Technical Analyst, Angel One Ltd

Cummins India: Buy CUMMINSIND, stop loss 970, target 1,060

Indus Tower: Sell INDUSTOWER, stop loss 191, target 166

Sumeet Bagadia, Executive Director at Choice Broking

Britannia: Buy Britannia, stop loss 3,200 target 3,400-3,450

NTPC: Sell NTPC, stop loss 150, target 138-135

Avinash Gorakshkar, Head of Research at Profitmart Securities

M&M: Buy M&M, stop loss 865, target 940

United Spirits: Buy United Spirits, stop loss 790, target 880

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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