Day trading stocks to buy: IOC, BHEL, Sun Pharma — Anand Rathi expert recommends three shares to buy today — May 6

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Stock market today: Despite strong global market sentiments, the Indian stock market ended lower on Friday. This was primarily due to profit booking after the indices reached new peaks earlier in the day. The Nifty 50 index ended 172 points lower after reaching a new peak of 22,794, and the BSE Sensex dropped 732 points from its lifetime high of 75,124.

The Bank Nifty index also saw a significant decline of 307 points, closing at 48,923. In the broader market, the small-cap index finished 0.55 per cent lower after reaching a new peak of 47,678, and the mid-cap index ended 0.21 per cent lower after touching a new high of 42,774. Ganesh Dongre, Senior Manager — of Technical Research at Anand Rathi, believes that the Indian stock market bias may remain sideways in upcoming sessions till the Nifty 50 index continues to trade in the 22,300 to 22,900 range.

The Anand Rathi expert said the next crucial support below 22,300 is placed at 22,100. On day trading stocks today, Ganesh Dongre of Anand Rathi recommended three stocks to buy today — Sun Pharma, BHEL, and IOC. These stocks have been chosen based on their recent price movements, volume trends, and other technical indicators.

Also Read: Trade setup for stock market today: Five stocks to buy or sell on Monday — May 6 Speaking on the outlook for the Indian stock market today, Ganesh Dongre said, "On the Nifty front, nifty closed at the support level of 22300–22400 zone, which may keep the movement sideways for the Nifty in the upcoming days. The next resistance for the Nifty spot will be 22800-22900. As per today's chart pattern, we have seen the gap opening and continue its bullish trend, but Nifty has seen profit booking for the rest of the day.