Day Trading Stock Picks: Anand Rathi Expert Suggests Three Stocks to Consider Buying Today

In the Indian stock market, for the third consecutive day, there was a decline. The Nifty 50 index dropped by 124 points, closing at 22,147, while the BSE Sensex fell by 456 points to end at 72,943. However, the Bank Nifty index saw a decline of 288 points, finishing at 47,484. Despite this, broader market indices ended slightly positive, with more stocks advancing than declining.

Recommendations by Anand Rathi:

According to Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, the market mood might stay sideways as the Nifty 50 index is near its support level of 22,100. He suggests a ‘buy-on-dips’ strategy as long as the index remains above this level. Today’s stock picks from Anand Rathi are CAMS, Apollo Tyres, and RCF.

Market Outlook:

Ganesh Dongre noted that the Nifty 50 index’s support is around 22,100 to 22,250, leading to a sideways movement. Resistance is expected at 22,500 to 22,600. Meanwhile, the Bank Nifty saw profit booking but sustained above its support level of 47,100 to 47,200, with the next resistance at 48,000 to 48,200.

Stock Recommendations:

1] CAMS: Buy at ₹3125, target ₹3200, stop loss ₹3080.

2] Apollo Tyres: Buy at ₹475, target ₹488, stop loss ₹467.

3] RCF: Buy at ₹140, target ₹155, stop loss ₹133.

Each recommendation comes with specific entry, target, and stop-loss prices, along with analysis suggesting potential price movements. These recommendations are based on technical indicators and chart patterns, providing guidance for traders interested in these stocks.