The domestic equity market extended losses for the second day in a row on Monday in a holiday-shortened week.
The domestic equity market extended losses for the second day in a row on Monday in a holiday-shortened week. IT, auto and consumer durable stocks dragged the market the most on Monday, however, bank and financial stocks helped Nifty and Sensex pare most of the losses in closing the hours. The NSE and BSE will remain closed on Tuesday on account of Id-Ul-Fitr (Ramzan Id). Earlier on Monday, the broader Nifty50 closed above 17,000-mark, while the Sensex dropped 85 points. The 12-share Bank Nifty gained over 70 points to end near 36,200.
On Wednesday morning, Asian markets were trading mixed as SGX Nifty Futures on the Singaporean exchange gained nearly 100 points, while Hang Seng Index at the Hong Kong Exchange dropped more than one per cent.
Read More: Sebi slaps Rs 3 lakh fine on 3 entities for unauthorised investment advisory services
Meanwhile, ahead of the market opening, Zee Business research team brings you a list of stocks for profitable trade. The stocks have been picked, keeping in mind the interest of retail investors, who can make good returns from these stocks in the short-term, positional and long-term basis. Below is the list of stocks identified by our analysts on Monday, May 4, 2022.
Kushal Gupta Stock Picks
Cash
JSW Energy – Buy – 315, sl – 300
FTR
Godrej Prop – Buy – 1670, sl – 1600
OPTN
Alembic Pharma 780PE@38 – Buy – 52, sl – 28
Techno
LIC Housing Finance – Buy – 402, sl – 382
Funda
Hindalco – Sell – 470, sl – 492
IPL
Voltas – Buy – 1250, sl – 1200
News
Cosmo Films – Buy – 1900, sl – 1830
Mychoice
Ramkrishna Forgings – Buy – 195, sl – 185
Vedanta – Sell – 396, sl – 413
Concor – Buy – 660, sl – 635
Best Pick
LIC Housing Finance – Buy – 402, sl – 382
Read More: Campus Activewear IPO Allotment Tomorrow: Know GMP, How to Check Share Application Status
===================================
Ashish Chaturvedi Stock Picks
CASH KA STOCK
BUY EIH ASSOC TARGET 500 SL 470
FUTURES
BUY UPL TARGET 850 SL 820
OPTIONS
BUY ITC 265 CE TARGET 10 SL 5
TECHNO
BUY BLUEDART TARGET 7800 SL 6800
FUNDA
BUY TATA STEEL TARGET 1560 DURATION 9 MONTHS
IPL STOCK
BUY SUMITOMO CHEM TARGET 550 DURATION 12 MONTHS
STOCK IN NEWS
BUY ASTEC LIFE TARGET 2000 SL 1935
MY CHOICE
BUY ACCELYA TARGET 1030 SL 975
BUY BANDHAN BANK TARGET 350 SL 330
BUY NAVABHARAT VENTURES TARGET 180 SL 168
MY BEST
BUY NAVABHARAT VENTURES TARGET 180 SL 168
Earlier, on Tuesday, all major US indices closed with gains ahead of crucial Fed Policy announcements on Wednesday. Dow Jones gained 67 points, Nasdaq settled higher by 28 points and S&P 500 gained more than 20 points on Tuesday.
