Day trading stocks to buy: Anand Rathi expert recommends these three shares to buy today — April 24 | Stock Market News (2024)

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Anand Rathi's stock recommendations

According to Ganesh Dongre, Senior Manager—Technical Research at Anand Rathi, the Nifty 50 is now hovering around the 22,200–22,250 support zone, which will continue to trend higher in the coming days. Dongre continued by adding that Nifty 50 would continue to go upward until it breaches over its 22,200–22,250 support level and reaches the 22,550–600 resistance level. On day trading stocks for Wednesday, Ganesh Dongre of Anand Rathi recommended three shares to buy today — TVS Motor Company Ltd, NBCC (India) Ltd, and Tata Consultancy Services Ltd.

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Stock market today

On the outlook for the Nifty 50 and Bank today, Ganesh Dongre said, “On the Nifty 50 front, we are now at the support level of 22,200-22,250 zone, which will keep the movement upward for the Nifty 50 in the upcoming days. Now the resistance for the nifty spot will be 22,500–22,600. As per today's chart pattern, we have seen the gap up opening and then continuing its bullish trend pattern for the rest of the day and closing in positive territory. So, on the Nifty 50 front, until time holds above its support level of 22,200–22,250, the Nifty 50 will remain in a bullish trend until the resistance level of 22,550–600.

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Shares to buy today

TVS Motor Company Ltd: Buy at ₹1,956; Stop Loss: ₹1,930; Target Price: ₹1,998

We have seen major support in this stock around ₹1,930. So, at the current juncture, the stock has again seen a reversal price action formation at the 1,930 price level, which may continue its rally till its next resistance level of 1,998, so traders can buy and hold this stock with a stop loss of ₹1,930 for the target price of ₹1,998 in the upcoming weeks.

NBCC (India) Ltd: Buy at ₹133; Stop Loss: ₹128; Target Price: ₹142

In the short-term trend, the stock has seen a bullish reversal pattern; technically, retrenchment could be possible till 132, so, holding the support level of 128, this stock can bounce toward level 142 in the short term, so the trader can go long with a stop loss of 128 for the target price of 142.

Tata Consultancy Services Ltd (TCS): Buy at ₹3,875; Stop Loss: ₹3,820; Target Price: ₹3,950

We have seen a fresh breakout in this stock around ₹3,875 rupees. So, at the current juncture, the stock has again seen a reversal price action and bullish candlestick pattern formation at the ₹3,875 price level, which may continue its rally till its next resistance level of ₹3,950, so traders can buy and hold this stock with a stop loss of ₹3,820 for the target price of ₹3,950 in the upcoming weeks.

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