Day Trading Guide: Axis Bank among 4 stock recommendations for Tuesday – Stock Ideas

The home indices tumbled on Monday amid world macro headwinds. The 30- share Sensex crashed over 1,700 factors right this moment to hit an intraday low of 52,527.08 and Nifty additionally slumped over 427 factors to settle at 15,774.4.

Mehul Kothari, AVP, Technical Analysis, Anand Rathi Shares & Inventory Brokers, stated, “Nifty not solely breached the 16,000 mark but in addition sneaked beneath the Might 2022 low of 15,735.”

The one hope for the bulls on this situation is that the index managed to defend the low of 15,671 (March 2022) and recovered sharply throughout the fag finish of the session.

“Within the coming session, a excessive of 15,886 could be an vital stage to be careful for since we’re witnessing a bullish hammer-like candlestick sample on the each day scale. Quite the opposite, a breach of 15,670 would disappoint the bulls and that may drag the index a lot decrease. To date, we advise merchants to stay mild and observe strict cease losses whereas buying and selling in particular person shares,” he added.

Listed here are the highest 4 inventory suggestions which analysts counsel