Day trading stocks for today: SBI to Apollo Tyres - Anand Rathi expert recommends three shares to buy today - April 3
Day trading stocks for today: Following a sell-off in the US stock market on Monday, the Indian stock market snapped its three-day rally despite a sharp last-half-hour recovery on Tuesday. The Nifty 50 index went off 8 points and closed at 22,453 level, the BSE Sensex lost 110 points and finished at the 73,903 mark while the Bank Nifty index corrected 32 points and ended at 47,545 level.
However, the broad market outperformed frontline indices as both small-cap and mid-cap indices closed more than a percent higher even as the advance-decline ratio remained positive at 3.4:1. Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi believes that the Indian stock market bias is still positive as the Nifty 50 index has held above the support zone placed between 22,250 to 22,300 levels.
The Anand Rathi expert went on to add that the 50-stock index is facing a hurdle between the 22,550 and 22,600 zones. On stocks to buy today, Ganesh Dongre of Anand Rathi recommended three intraday stocks for today — SBI, Bata India, and Apollo Tyres.
On the outlook for the Indian stock market today, Ganesh Dongre of Anand Rathi said, "On the Nifty 50 front, we still hold the support level of 22,250 to 22,300 zone, which will keep the movement upward for the 50-stock index in the coming days. The resistance for Nifty today would be witnessed in between the 22,550 to 22,600 zone; crossing this resistance, we can see an upward rally continue until the 22,900 zone.
On the Bank Nifty front, we have already achieved the 47,500 level, so on the spot, the next resistance will be witnessed around 48,000 levels." 1] SBI: Buy at ₹767, target ₹785, stop loss ₹757. SBI share price has a bullish reversal pattern, technically retrenchment could be
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