STOCK MARKET

Stocks to buy today: List of 20 stocks for profitable trade on May 9

STOCK MARKETS

The Indian market ended with a cut of more than one and half per cent on Friday amid inflation fears. 

The Indian market ended with a cut of more than one and half per cent on Friday amid inflation fears. Headline indices Nifty50 and the Sensex ended over 1.6% and 1.5% lower on the last trading day of the week. The broader Nifty 50 closed near 16,400, while the Sensex witnessed a cut of around 900 points. Following benchmarks, Nifty midcap and small cap indices closed lower by 1.8% and 2.5 % respectively. The domestic stock market was largely pulled down by sell off in IT, Realty and financial stocks. FMCG and oil & gas, which ended marginally lower, witnessed some buying interest on Friday. 

It was the fourth straight week of loss for the Indian equity market and the last week was among the worst week of 2022 on the back of a surprise rate hike by RBI, and a sharp fall in global markets after US Fed Policy, said Santosh Meena, Head of Research, Swastika Investmart Ltd. “Central banks across the globe are raising interest rates to tame inflation therefore easy liquidity draining out of the system where FIIs are selling aggressively for the last many months. There is a fear of stagflation among market participants which is also spooking market sentiments,” the expert said.  

Read More: Venus Pipes & Tubes IPO: GMP, Price, Date, Size; Key Things To Know Before Buying

Meena said the direction of global equity markets along with movement in the dollar index and crude oil prices will continue to dominate, while inflation numbers of the USA on 11th May and Inflation and IIP numbers of India on 12th May will also cause volatility in the market. 

Meanwhile, SGX Nifty, which hints early trends for the Indian market, was trading lower by nearly 200 points on the Singaporean exchange on Monday morning. Besides, Japanese Nikkei 225 dipped more than 2% in the early trade, however, Chinese Shanghai Composite was trading marginally higher by 0.25% around the same time.  

Ahed of the market opening, Zee Business research team brings you a list of 20 stocks for profitable trade on May 9, 2022. These stocks have been picked from cash, F&O and techno segments to help investors make money on a short-term to long-term basis. Below is the list of stocks picked by Zee Business analysts Kushal Gupta and Ashish Chaturvedi, take a look: 

Read More: LIC IPO Subscription Day 5 Updates: IPO Booked 1.73 Times So Far; Retail Oversubscribed

Kushal Gupta Stock Picks  

Cash 

GOCL Corp – Buy – 258, sl – 246 

FTR 

NMDC FUT – Sell – 147, sl – 156 

OPTN 

Hind copper 105 [email protected] – Buy – 9, sl – 3 

Techno 

JSPL FUT – Sell – 485, sl – 515 

Funda 

JSW Steel FUT – Sell – 678, sl – 700 

IPL 

Escorts – Buy – 1800, Duration – 1 year 

News 

Vedanta FUT – Sell – 345, sl – 368 

Mychoice 

Bank Nifty 34500 PE @324 – Buy – 500, sl – 250 

Aarti Ind FUT – Sell – 780, sl – 810 

Canara Bank FUT – Sell – 214, sl – 225 

Best Pick 

NMDC FUT – Sell – 147, sl – 156 

Ashish Chaturvedi Stock Picks   

CASH KA STOCK 

BUY ALLCARGO LOGISTICS TARGET 400 DURATION 2 MONTHS   

FUTURES 

SELL OBEROI REALTY FUT TARGET 860 SL 885  

OPTIONS 

BUY TITAN 2200 PE TARGET 85 SL 45  

TECHNO 

SELL RBL BANK FUT TARGET 107 SL 120   

FUNDA 

BUY BLS INTL TARGET 355 SL 340   

IPL STOCK 

BUY ABBOTT INDIA TARGET 24000 DURATION 12-18 MONTHS   

STOCK IN NEWS 

BUY SIYARAM SILK TARGET 640 SL 610  

MY CHOICE 

SELL MCX FUT TARGET 1232 SL 1282 

SELL APOLLO HOSP FUT TARGET 3765 SL 3870 

SELL BAJAJ FIN FUT TARGET 5880 SL 6040 

MY BEST 

SELL RBL BANK FUT TARGET 107 SL 120   

Earlier, all major Wall Street indices closed in the red on Friday. Dow Jones dropped 0.3%, Nasdaq Composite nearly 1.5% and S&P 500 settled with over half per cent cut on Monday 

Source :
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top