Day trading guide for Thursday: 6 stocks to buy today – November 3 | Mint – Mint

Equity benchmarks surrendered early gains to close with losses on Wednesday, snapping their four-day winning streak. Investors were cautious ahead of the US Federal Reserve’s meeting on interest rates, while a depreciating rupee further weighed on sentiment. The BSE Sensex failed to hold on to the gains and ended 215 points lower at 60,906. Similarly, the NSE Nifty fell 0.34% to settle at 18,082.8.

Meanwhile, the US Fed on Wednesday raised rates 75 basis points for the fourth time in a row. Jerome Powell said the Fed would raise interest rates more than previously anticipated, sapping risk appetite and increasing the likelihood of the economy entering into recession.

Day trading guide for stock market today

“The near term uptrend of Nifty remains intact, but the market has started to show early signs of weakness emerging from near the crucial resistance. Further sustainable upside could emerge only above 18,200 levels. Next lower supports to be watched at 17,900 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

“The undertone remains bullish and once the index breaks above 18,200 will witness a sharp short covering on the upside towards the 18,500-18,800 levels. The lower-end support stands at the 17,950-17,800 zone which will act as a cushion on the downside,” said Kunal Shah, Senior Technical Analyst at LKP Securities.

“Given BoE interest rate decision on Thursday along with RBI’s emergency meet, Nifty is likely to continue with its consolidative move,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.

Stocks to buy today as recommended by analysts –

Anuj Gupta, Vice President – Research at IIFL Securities

ONGC: Buy ONGC, stop loss 128, target 155

ICICI Bank: Buy ICICI Bank, stop loss 884, target 940

Rajesh Bhosale, Technical Analyst, Angel One

Radico Khaitan: Buy RADICO, stop loss 1,047, target 1,110

Voltas: Buy VOLTAS, stop loss 888, target 959

Mehul Kothari, AVP-Technical Research at Anand Rathi

Wipro: Buy Wipro, stop loss 385, target 405

BirlaCorp: Buy Birlacorp, stop loss 945, target 1,020

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

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