S&P BSE Sensex fell more than 400 points while Nifty50 broke below 17600 in the first 15 minutes of trading.
The rupee hit a record low against the dollar at 80.40 rupees/USD versus 79.98 rupees/USD recorded in Wednesday’s trading session.
By industry, selling pressure appeared in IT, banking, oil & gas and energy stocks.
Dr. VK Vijayakumar, Head of Investment Strategy at
“US 10-year yield spikes above 3.5% and dollar index above 111 is worrying for equity markets. Now the market feels that the probability of a US recession has increased to 75%. Given the slowdown in the Eurozone and China, this is bad news for global growth,” he said.
We have collated stocks from different experts for traders with short-term bias:
Expert: Jayesh Bhanushali, Sr Derivatives & Technical Research Analyst, IIFL told ETBureau
: Buy | Target Rs 332 | Stop Loss Rs 3 311
The stock posted an inverse head and shoulders breakout. : Buy | Target Rs 3850 | Stop Loss Rs 3 3700
The stock made a consolidation breakout. : Sell | Target 200 Rs | Stop Loss 214 Rs
Stock gave an inverted cup and handle breakdown.
Broker: Securities told ETMarkets
Reliance Securities Intraday Picks
Engine: Sell | Target 3600 Rs | Stop Loss Rs 3 3800
Short positions can be initiated in the range of Rs 3700-3730 for a target of Rs 3600 with a strict stop loss of Rs 3800: Sell | Target Rs 670 | Stop Loss Rs 70 702
Short positions can be initiated in the range of Rs 690-696 for a target of Rs 670 with a strict stop loss of Rs 70.: Buy | Target Rs 172 | Stop Loss Rs 16 163
Long positions can be initiated in the range of Rs 165-167 for a target of Rs.172 with a strict stop loss of Rs 163.
Expert: Kunal Bothra, Market Specialist to ETNow
Buy or Sell: Experts’ Stock Ideas for September 22, 2022
ET Now spoke to various experts and here is what they have to recommend for today’s session. Nooresh Merani has a buy/sell recommendation for HDFC Bank and Sun Pharma while Kunal Bothra has a buy/sell recommendation for HUL and Sun Pharma for today’s session. Check targets and stoploss.
: Buy | Target Rs 2700 | Stop Loss Rs 2560: Buy | Target Rs 980 | Stop Loss 880 Rs
Britannia Industries: Buy | Target Rs 3840 | Stop Loss Rs 3 3700
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy | Target Rs 1600 | Stop Loss 1470 Rs
Sun Pharma: Buy | Target Rs 950 | Stop Loss 880 Rs
: Buy | Target Rs 300 | Stop Loss Rs . 238
(Disclaimer: The recommendations, suggestions, views and opinions expressed by experts are their own. They do not represent the views of The Economic Times)