Day Trading Guide For Tuesday: Best Stocks To Buy Today India

Amid positive global and domestic cues benchmark indices ended higher for the second straight day on Monday. At closing, the Sensex was up 240.98 points, or 0.37 per cent, at 65,628.14, while the Nifty was up 93.50 points, or 0.48 per cent, at 19,528.80. With the exception of FMCG, all sectors showed gains, with IT, PSU Banks, and Metals rising by 2-3%.

Nifty Outlook Today

Rupak De, Senior Technical analyst at LKP Securities said, "Nifty continues to stay in the bullish territory as the index has maintained its position above the channel breakout level. The trend is expected to stay positive as long as it remains above 19,525. On the upside, the index could potentially extend its gains towards 19,750. Conversely, if it falls below 19,400, we may witness a period of consolidation."

Bank Nifty Outlook Today

Kunal Shah, Senior Technical & Derivative analyst at LKP Securities said, "The Bank Nifty index remains under bullish momentum, finding support within the 44300-44200 zone, which serves as a safety net for the bulls. The immediate obstacle on the upside is situated at the 44600-44650 zone. A successful breach above this resistance level would pave the way for further upward movement, potentially targeting the 45000 level, where a substantial amount of open interest exists on the call side, making it a key area to watch."

Best Stocks To Buy Today India

Here are the best shares to buy today in India as recommended by AR Ramachandran from Tips2Trades for Tuesday, 5th September.

IRFC

IRFC stock price is overbought on the Daily charts with next resistance at 70.65. Investors should be booking profits at current levels as a Daily close below support of 61.5 could lead to a target of 48.85 in the near term.

RVNL

RVNL stock price looks bullish but overbought on the Daily charts with next resistance at 167.7. A daily close below support of 144.7 could lead to 130.5 in the near term.

IDBI Bank

IDBI Bank looks bullish with next resistances at 66-70 on the Daily charts. Investors should book profits at current levels as a Daily close below support of 61.85 could lead to targets of 50.5-54 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.