After showing weakness in the last four sessions, Nifty showed high volatility on Monday and closed the day higher by 10 points at 18,125. Meanwhile, the midcap index continued to sulk for the fifth straight session. The Nifty midcap index was down 1.7%, while the small-cap index dropped 3%.

Trade view on NSE Nifty

“The short term trend of Nifty is range bound with minor positive bias. Having slowed down of downside momentum and placed at the crucial supports, one may expect chances of upside bounce from the lower levels. Any failure to sustain the upside bounce or a decisive move below 17950-17900 levels could extend sharp weakness for the short term. A confirmation of upside reversal by positive close could open an upside bounce in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks to buy today

Sumeet Bagadia, Executive Director at Choice Broking

ONGC: Buy ONGC, Stop Loss 155, Target 170

Canara Bank: Buy Can bank, Stop Loss ₹195, Target 210-215

Mudit Goel, Senior Research Analyst at SMC Global Securities

City Union Bank: Buy CUB, Target ₹183, Stop Loss ₹173

Ravi Singhal, Vice chairman, GCL securities Limited

ONGC: Buy at ₹161 , Target ₹170, Stop Loss ₹157

Ravi Singh, Head of Research & Vice President, ShareIndia

ONGC: Buy at ₹160, Target ₹168, Stop Loss ₹158

IGPL: Buy at ₹850, Target ₹880, Stop Loss ₹840

Manoj Dalmia, Founder, and Director- Proficient Equities Limited

Bank of Baroda: Buy at ₹96.50, Target ₹102, Stop Loss ₹94

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.