Stocks To Buy/Sell Today: From HDFC Bank To Adani Wilmar 3 Trading Tips For 5th October

On Wednesday, equity benchmark indices declined as a result of continuing outflows of FIIs and downward pressure in the US and Asian stock markets. The S&P BSE Sensex fell 0.44% to 65,226.04 while the NSE Nifty 50 index closed 0.47% down at 19,436.10. Gift Nifty fell in early trade on Thursday, while foreign investors' behaviour toward domestic stocks has been negative, and the market is expected to stay volatile this week as we await the results of the RBI's policy decisions.

Nifty Outlook Today

Rupak De, Senior Technical analyst at LKP Securities said, "The Nifty exhibited volatility throughout the day but managed to recover from the lowest point of the day before closing. The overall market trend remains bearish, with the Nifty trading below critical moving averages. Looking ahead, the market may continue to follow a bearish trend as long as it remains below 19500, with initial support likely around 19330, a fall below the said level might take the Nifty towards 19250-19200."

Bank Nifty Outlook Today

Kunal Shah, Senior Technical & Derivative analyst at LKP Securities said, "The bears in the Bank Nifty maintained their control, causing the index to break below the support at 44,200. The next immediate support level is positioned at 43,800, and a breach below this level could trigger aggressive selling pressure, potentially leading to a further 2% correction in the index. On the upside, the immediate resistance is in the range of 44,250 to 44,300. A breakout above this range may incite some short-covering moves in the index."

Stocks To Buy Today

Pavitraa Shetty, Co-owner Tips2trades has recommended 3 stocks to buy today on 5th October.

Bajaj Finance

Bajaj finance is overbought and slightly bearish with strong resistance now at 8000. Investors should be booking profits at current levels as a daily close below support of 7755 could lead to 7295 in the near term.

HDFC Bank

HDFC Bank looks oversold yet bullish on the Daily charts with strong support at 1489. A daily close above resistance of 1538 could lead to a target of 1600 in the near term.

Adani Wilmar

Adani Wilmar looks bullish on the Daily charts with strong support at 345. A daily close above the resistance of 359 could lead to a target of 373 in the near term.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author or 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.