Stocks To Buy Today: 3 Best Shares To Trade Today On Wednesday, 20th Sept

Considering that the Gift Nifty traded in the red in early trade on Wednesday, the Indian markets may see a negative start. At roughly 8.00 a.m., Gift Nifty, previously SGX Nifty, traded at 20,080.50, down 19.5 points or 0.10%. The index began trading at 20,100 and fluctuated between high and low of 20,110.5 and 20,075.5 levels. The Sensex dropped 241.79 points, or 0.36%, on September 18 to close at 67,596.84. Nifty 50 fell 59.05 points, or 0.29%, to end the day at 20,133.30. To end at 45,979.85, Bank Nifty declined by 251.65 points or 0.54%. Owing to the FOMC's rate decisions later in the day, the market is probably going to stay turbulent today.

Market Outlook Today

"This week markets would take cues from their global peers as several central banks including US Fed would hold policy meetings. Market is showing strength and is sustaining above 20k levels. Overall, we expect the market to gradually inch upwards with minor profit booking at intervals. Globally, Investors would track European inflation data and US housing stats that will be released on Tuesday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic markets relinquished their momentum as they anticipated a raft of policy rate decisions due this week. The investor's confidence was also impacted by the expectations of a demand resurgence in China, combined with crude supply cuts. With the Fed rate hike fears back on the cards, as reflected in the elevated US bond yields, the markets await clarification from major central banks."

Stocks To Buy Today

AR Ramachandran from Tips2Trades has guided with the below stocks to buy today on Wednesday, 20th Sept.

UCO Bank

Technically, UCO Bank looks very overbought yet bullish with next resistance at 52.35. Investors should be booking profits at current levels as a daily close below support of 40.55 could lead to 31 in the near term.

Indian Overseas Bank

Indian Overseas Bank looks very overbought yet bullish with next resistance at 52.9. Investors should be booking profits at current levels as a daily close below support of 39.9 could lead to 32 in the near term.

Titagarh Rail Systems

Titagarh Rail Systems is bearish on the Daily charts with strong resistance at 855. Investors should book profits at current levels as a daily close below support of 750 could lead to a target of 636 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.