Shares to buy or sell: Chandan Taparia recommends three stocks to buy today – February 18 | Stock Market News

The Indian stock market benchmark indices, Sensex and Nifty 50, opened flat on Tuesday, February 18, amid mixed global cues. The equity market has been witnessing immense selling pressure, with the Nifty 50 trading below the 23,000 level.

The Sensex opened 76.85 points, or 0.10%, higher at 76,073.71, while the Nifty 50 began trading at 22,963.65, up 4.15 points, or 0.02%. Selling was seen in Auto, Financials, PSU banks, Oil & Gas, FMCG and Metals, while IT and Media sectors were in the green.

Nifty 50 Outlook

Nifty 50 index formed a bullish candle on the daily frame with a longer lower shadow indicating bulls awakening at lower levels. Now, if Nifty 50 manages to cross and hold above 23,000 zones then bounce could be seen towards 23,150 then 23,250 zones while supports are intact at 22,800 then 22,725 zones, said Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL.

Bank Nifty Outlook

Bank Nifty formed a bullish candle on the daily scale with a longer lower shadow on Monday which is indicating buying coming from lower zones. Now it has to hold above 49,000 zones for a bounce towards 49,750 then 50,000 while on the downside support is seen at 49,000 then 48,750 levels, Taparia added.

Chandan Taparia has recommended three stocks to buy today, February 18. Taparia recommends buying Maruti Suzuki India, Bajaj Finserv and UPL.

Stocks to buy

Maruti Suzuki | Buy | Target Price: ₹13,200 | Stop Loss: ₹12,500

Maruti Suzuki share price is perfectly respecting 20 DEMA and inching higher. The overall setup looks bullish and the base is shifting higher. Maruti Suzuki stock has formed a bullish candle on daily scale and RSI indicator is positively placed which may support the ongoing up move, Taparia said.

He recommends buying Maruti Suzuki shares with a target price of ₹13,200, and a stop loss at ₹12,500.

Bajaj Finserv | Buy | Target Price: ₹2,000 | Stop Loss: ₹1,840

Bajaj Finserv share price has given a range breakout on daily chart and managed to close above the same. It is relatively outperforming and holding gains in spite of broader market weakness. The ADX line is rising which confirms the strength of the uptrend, the MOFSL analyst said.

He recommends buying Bajaj Finserv shares for a target of ₹2,000, keeping a stop loss at ₹1,840.

UPL | Buy | Target Price: ₹665 | Stop Loss: ₹615

UPL shares are on the verge of giving Pole and Pennant breakout on daily scale. Buying is visible across Chemical space which has bullish implications. The MACD Indicator is rising which confirms the bullish momentum, Taparia said.

He recommends buying UPL shares for a target price of ₹665, with a stop loss at ₹615.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.