Day Trading Guide: GSFC among 6 stock recommendations for Tuesday – Market action

It turned out to be a great start to the week as the 30-share pack Sensex jumped 545.25 points or 0.95 per cent to close at 58,115.50. Its broader peer, Nifty50, also rose 181.80 points or 1.06 per cent to close above the 17,340.05 mark.

“The month of Aug 2022 kicked off on an optimistic note wherein the index Nifty started with an upside gap of around 100 points. As the day progressed, the index gained more strength to clear the 17,300 mark with ease and closed with heavy gains of around 180 points. For the coming session, 17,400 would be the first resistance to watch out for.

“A sustainable move above 17,400 would confirm a fresh breakout on the line charts and that might help the index to extend its move towards the 17,800 mark. On the other hand, immediate support has been shifted to 17,150 and a breach of the same might attract profit booking in the markets. One should note that the PCR is at a higher range and that is why we are a bit cautious for the coming sessions,” said Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers.

Here are the top six stock recommendations which analysts suggest: