Markets are expected to open weak, as suggested by the SGX Nifty. Expect solid volatility ahead of the US Fed decision on its bond buying programme later this week.
Here are a few stocks to buy for intra day trade on Sept 20, as recommended by experts.
Dr. Ravi Singh, Founder and Director, DRS Advisory
Wockpharma: Buy at Rs 440, Target Rs 455, stop loss Rs 435
Bharti Airtel: Buy at Rs 727: Target Rs 750, stop loss Rs 720
Manoj Dalmia, Founder and Director, Proficient Equities Private limited
Manali Petro: Buy at Rs 105.50, target Rs 118, Stop loss Rs 98.50
Ravi Singhal, Vice chairman, GCL securities Limited
Dabur: Buy at Rs 353, Target Rs 380, Stop loss Rs 347
Kapil Goenka, Founder at Eternity Financial Services
Tata Steel: Buy at Rs 1385, Target Rs 1425, STOP LOSS Rs 1360.
According to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, "The overall sentiment in the market remains optimistic, given improving macro data points and positive earnings expectation. The PLI schemes announced by the government shows their strong intent to address the sectors' challenges and pave way for development of local capabilities and capacities, thus enabling companies to rightly capture the opportunity thrown open by China+1 strategy. The constitution of a 'Bad Bank' in our view is a positive development as the focus remains on faster resolution of stressed assets, which will improve the balance sheet of Banks. The upfront cash payment would also aid in providing incremental cash flows and will enable Banks to focus more on their core operations. However, valuations are not comfortable and hence could lead to bouts of profit booking. The weak global cues on account of worry over slower economic growth and rising Delta variant cases globally would market oscillating between greed and fear.
Nervousness would be seen in the market this week ahead of Federal Reserve meeting, which could provide some indications on when the central bank will start withdrawing its monetary stimulus and start raising interest rates eventually."