Intraday Trading Strategy: 3 Stocks To Buy/Sell On Tuesday

On Monday, benchmark indices came to an uninteresting end. At closure, the Nifty was up 0.20 points at 19,674.50 while the Sensex was up 14.54 points, or 0.02 percent, at 66,023.69. The primary gainers on the Nifty index included Bajaj Finance, Tata Consumer Products, Apollo Hospitals, Bajaj Finserv, and Coal India, while the top losers were Hindalco Industries, SBI Life Insurance, Hero MotoCorp, Infosys, and Dr. Reddy's Laboratories. The BSE midcap index climbed by 0.46 percent on the broader market front, while the smallcap index finished the day up 0.12%.

Nifty Prediction Today

"The index remained volatile before closing with a doji pattern on the daily timeframe. This suggests a possible pause in the prevailing bearish trend. From here, the market might consolidate a bit before starting a new trend. Support on the lower end is pegged at 19,600; a fall below 19,600 might initiate fresh shorts. On the higher end, resistance is placed at 19,755," said Rupak De, Senior Technical analyst at LKP Securities.

Bank Nifty Prediction Today

"The Bank Nifty index experienced a brief respite following a four-day sell-off, with buyers gaining traction from lower levels. However, the index continues to trade below its 20-day moving average (20DMA), which is currently positioned at 45,000. A close above this level would signal a potential resumption of the upward momentum. On the downside, the lower-end support now rests within the 44,500 to 44,000 zone. A breach below this support range could result in additional selling pressure on the index," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

Stocks To Buy Today

AR Ramachandran from Tips2trades has recommended 3 stocks to buy on Tuesday.

Gujarat Gas

Gujarat Gas stock price looks bearish on the Daily charts with strong resistance at 455.5. A daily close below strong support of 438 could lead to 418 in the near term.

MCX India

MCX India looks very overbought yet bullish with next resistance at 2015. Investors should be booking profits at current levels as a daily close below support of 1833 could lead to 1610 in the near term.

Canara Bank

Canara Bank looks very overbought and slightly bearish with next resistance at 391. Investors should be booking profits at current levels as a daily close below support of 363 could lead to 320 in the near term.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.