The S&P BSE Sensex fell more than 400 points while the Nifty50 slumped below 17600 in the first 15 minutes of trading.
The rupee hit a record low against the dollar at Rs 80.40 per USD compared to Rs 79.98 per USD recorded in Wednesday’s session.
At the sector level, selling pressure was seen in IT, banking, oil & gas and energy stocks.
“While the Fed’s 75 basis point rate hike and reiteration of the hawkish message were in line with expectations, an indication that the final rate is likely to be 4.6% was higher than market expectations,” said Dr. VK Vijayakumar, Chief Investment Strategist at
“US 10-year bond yields climbing above 3.5% and the dollar index above 111 are worrying for equity markets. Now the market believes the probability of a US recession has risen to 75%. This is bad news for global growth against the backdrop of a significant slowdown in the euro zone and China,” he said.
For traders with a short-term trading horizon, we have compiled stocks from various experts:
Expert: Jayesh Bhanushali, Sr. Derivatives & Technical Research Analyst, IIFL, to ETBureau
: Buy| Target Rs 332| Stop loss Rs 311
The stock has shown a breakout of the inverse head and shoulders pattern. : Buy| Target Rs 3850| Stop loss Rs 3700
The stock has seen a burst of consolidation. : Sell| Target Rs 200| Stop loss Rs 214
The stock has given an inverted cup and a collapse of the handle.
Brokerage: Securities told ETMarkets
Reliance Securities intraday picks
Engine: Sell| Target Rs 3600| Stop loss Rs 3800
A short position can be opened in the range of Rs 3700-3730 for the target of Rs 3600 with a strict stop loss of Rs 3800: Sell| Target Rs 670| Stop loss Rs 702
Short positions can be initiated in the range of Rs 690-696 for the target of Rs 670 with a strict stop loss of Rs 702. : Buy| Target Rs 172| Stop loss Rs 163
A long position can be opened in the range of Rs 165-167 for the target of Rs 172 with a strict stop loss of Rs 163.
Expert: Kunal Bothra, market expert to ETNow
Buy or Sell: Expert stock ideas for September 22, 2022
ET Now spoke to various experts and here is what they recommend for today’s trading session. Nooresh Merani has a Buy/Sell recommendation on HDFC Bank and Sun Pharma for today’s trading session, while Kunal Bothra has a Buy/Sell recommendation on HUL and Sun Pharma. Look at the targets and stoploss.
: Buy| Target Rs 2700| Stop Loss Rs 2560 : Buy| Target Rs 980| Stop loss Rs 880
Britannia Industries: Buy| Target Rs 3840| Stop loss Rs 3700
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy| Target Rs 1600| Stop loss Rs 1470
Sun Pharma: Buy| Target Rs 950| Stop loss Rs 880
: Buy| Target Rs 300| Stop loss Rs 238
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own. These do not represent the views of Economic Times)
https://economictimes.indiatimes.com/markets/stocks/news/stocks-to-buy-or-sell-today-top-10-short-term-trading-ideas-by-experts-for-22-september-2022/articleshow/94366426.cms Stocks to buy today: Stocks to buy or sell today: Top 10 short-term trading ideas by experts for 22 September 2022