The Sensex vaulted 1,335 points while the Nifty shot past the 18,000-mark on Monday, fuelled by index heavyweights HDFC twins which soared almost 10% after announcing corporate India’s biggest merger. The BSE Sensex surged 1,335 points to close at an over two-month high of 60,611. Likewise, Nifty jumped 2% to 18,053.
HDFC Ltd hit its highest since late November, while HDFC Bank rose about 10% to a level not seen since mid-October. The Nifty Bank index rose 4% and the finance index surged 4.6%.
Day trading guide for stock market today
“This week RBI’s policy meet is due which would drive the market and thus banking stocks are likely to remain in lime light. Q4 results announcement would also kick start with IT companies which would be tracked closely by investors. India VIX is down to 18 zones and has been shredding from higher zones which is giving comfort to the bulls. Now Nifty has to hold above 17700 zones, for an up move towards 18350 zones,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Stocks to buy today as recommended by analysts –
Mehul Kothari – AVP – Technical Research, Anand Rathi
L&T: Buy LT, stop loss ₹6,000, target ₹7,100
Symphony: Buy Symphony. stop loss ₹1,100, target ₹1,275
Avinash Gorakshkar, Head of Research at Profitmart Securities
Tata Steel: Buy TATASTEEL, stop loss ₹1,315, target ₹1,400
IndusInd Bank: Buy INDUSINDBK, stop loss ₹965, target ₹1,040
Anuj Gupta, Vice President at IIFL Securities
Arihant Capital: Buy ARIHANT CAPITAL, stop loss ₹409, target ₹490
IDFC First Bank: Buy IDFCFIRST BANK, stop loss ₹39, target ₹47
Astha Jain, Senior Research. Analyst at Hem Securities
Laxmi Organic: Buy Laxmi organic at 445, stop loss ₹397, targets ₹500/517
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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