Home Stock list Stocks to Buy Today: List of 20 Stocks to Trade Profitably on May 6

Stocks to Buy Today: List of 20 Stocks to Trade Profitably on May 6

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Taking cues from global markets, the domestic stock market closed flat with a positive bias on Thursday, as Wall Street saw the biggest intraday decline since 2020. IT and auto stocks helped indexes reference to slip into the red. The broader Nifty 50 closed flat with a marginal gain of 0.03%, with the index closing below 16,700 and the Sensex adding just over 30 points to settle near 55,700.

“The benchmark Nifty did not yield a decisive move as it remained within the previous day’s range. On the daily chart, Nifty formed a bar inside the day, suggesting indecision,” said Rupak De, senior technical analyst at LKP Securities. He said the daily RSI is in a bearish crossover. “The trend remains weak. At the lower end, support is visible at 16600, while resistance is visible at 16950-17000,” added Rupak De.

Meanwhile, on Friday, Asian markets were trading deep in the red amid fears that the US Federal Reserve and other major central banks will have to raise interest rates even more aggressively than expected to fight runaway inflation. , potentially pushing economies into a recession.

All major Asian indices were in the red on Friday. Japan’s Nikkei 225 was down 0.10%, the Hang Seng Index on the Hong Kong Stock Exchange fell more than 2.5% and China’s Shangahi Composite was trading down 1.5% around 8 a.m. morning Friday.

Earlier, the US market saw the biggest intraday decline since 2020 as Wall Street’s benchmark Dow Jones closed with a loss of more than 1,000 points, the Nasdaq fell nearly 650 points and the S&P 500 settled down more than 150 points on Thursday.

While waiting for the market to open, the Zee Business research team offers you a list of stocks for profitable trading. These stocks were picked from the cash, F&O and tech space to help investors make money in the short and long term. Below is the list of the 20 stocks as of May 6, 2022.

Kushal Gupta Stock Picks

Species
Andhra Paper – Purchase – 355, sl – 338

RTF
JSPL – Sale – 507, sl – 530

OPTN
Tata Steel 1280 [email protected] – Purchase – 50, sl – 31

tech
DLF – Sale – 330, sl – 346

Foundation
Tata Power – Buy – 300
Duration – 1 year
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IPL
Affle India – Purchase – 1500
Duration – 1 year

News
Vedanta – Sale – 392, sl – 412

My choice
Steel JSW – Sale – 680, sl – 719
Wipro – Sale – 485, sl – 510
Hindustan copper – Sale – 106, sl – 112

Best choice
JSPL – Sale – 507, sl – 530
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Ashish Chaturvedi Stock Picks
CASH KA STOCK
BUY DCM SHRIRAM LTD TARGET 1255 SL 1197

FUTURE
SELL RBL BANK TARGET 113 SL 122

OPTIONS
BUY SUNTV 460 PE TARGET 20 SL 12

TECHNICAL
SELL DELTACORP TARGET 245 SL 260

FONDA
SELL MCX TARGET 1250 SL 1320

IPL STOCK
BUY ITC TARGET 288 DURATION 6-9 MONTHS

STOCK IN THE NEWS
SELL TARGET VOLTAS 1130 SL 1165

MY CHOICE
SELL INDUSIND BANK TARGET 910 SL 948
SELL TATA COMMUNICATIONS TARGET 997 SL 1035
SELL TECH MAHINDRA TARGET 1235 SL 1278

MY BEST
SELL RBL BANK TARGET 113 SL 122