Stock Market Tips for Today:
In a not-so-favorable turn of events, both the American and Indian stock markets experienced a decline on Tuesday.
The Sensex, India’s benchmark index, closed down by a significant 413 points, while the Nifty ended at 18,286.50, down by 112.35 points.
Similarly, the Dow Jones lost 336 points, settling at 33,012, while the S&P fell 26 points to 4,109.
The Nasdaq also saw a slight decline, closing at 12,343, down by 22 points.
Given this scenario, it is expected that the Indian stock market may open weakly today.
In such circumstances, experts recommend considering specific stocks for intraday trading.
Sumeet Bagadia, the Executive Director at Choice Broking, suggests a ‘Buy’ recommendation for Coal India.
He advises setting a stop loss at ₹235 and targeting a range of ₹245-248. On Tuesday, Coal India closed at ₹240.90, experiencing a 1.30% increase.
The stock reached a high of ₹241.65 and a low of ₹237.50. Additionally, Bagadia suggests considering Cholamandalam Investment & Finance Company Limited for purchase.
He advises setting a stop loss at ₹1,000 and targeting a range of ₹1,040-1,050.
Ganesh Dongre, the Senior Manager of Technical Research at Anand Rathi, recommends a ‘Buy’ call for Cipla.
He suggests a target price of ₹945 with a stop loss at ₹905, having an entry point at ₹920. Notably, Cipla closed at ₹922.00 on Tuesday, showing a slight decline.
Throughout the day, it reached a high of ₹942.40 and a low of ₹917.90.
Dongre also suggests a ‘Buy’ recommendation for State Bank of India, targeting ₹598 with a stop loss at ₹575 and an entry point at ₹586.
Anuj Gupta, the Vice President of Research at IIFL Securities, joins Bagadia in recommending a ‘Buy’ call for Coal India.
Gupta suggests setting a stop loss at ₹225 and targeting a price of ₹270.
Furthermore, Bharat Petroleum Corporation Limited receives a ‘Buy’ recommendation from Gupta, with a target price of ₹398 and a stop loss at ₹347.
