Day trading stocks to buy: IHC to ITC — Anand Rathi expert recommends three shares to buy today — April 12
Day trading stocks to buy today: On account of strong global market sentiments despite the global rating agency Fitch downgrading its outlook for China, the Indian stock market ended higher on Wednesday. Two out of three benchmark indices — the Nifty 50 and the Bank Nifty — climbed to a new peak of 22,775 and 49,057 respectively. The Nifty 50 index had the highest-ever closing of 22,753 as well.
The BSE Sensex finished above the psychological 75,000 mark at 75,105 mark, just 19 points away from the lifetime high of 75,124. In the broad market, the mid-cap index outperformed the Nifty 50 index even as the advance-decline ratio rose to 1.13:1. Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi believes that the Indian stock market trend may remain positive till the Nifty 50 index is above 22,500 to 22,550 zone.
The Anand Rathi expert advised investors to maintain strict stop loss as Nifty today looks in overbought condition and profit-booking may trigger at higher levels. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 12 On day trading stocks to buy today, Ganesh Dongre recommended three shares to buy today — ITC, Indian Hotels Company, and Kotak Mahindra Bank. On the outlook for the Indian stock market today, Ganesh Dongre of Anand Rathi said, "On the Nifty front, we hold the support level of 22,500 to 22,550 zone, which will keep the movement upward for the Nifty in the upcoming days.
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