The S&P BSE Sensex plunged more than 400 points while Nifty50 broke below 17600 in the first 15-minutes of trade.
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.
Sectorally, selling pressure was seen in IT, banks, oil & gas, and energy stocks.
“While the Fed’s 75bp rate hike and reiteration of the hawkish message were on expected lines, an indication that the terminal rate is likely to be 4.6% was higher than market expectations,” Dr. V K Vijayakumar, Chief Investment Strategist at
“US 10-year bond yield spiking above 3.5% and the dollar index above 111 are unnerving for equity markets. Now the market feels that the probability of a US recession has increased to 75%. In the backdrop of sharply slowing Eurozone and China, this is bad news for global growth,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Jayesh Bhanushali, Sr Derivatives & Technical Research Analyst, IIFL told ETBureau
: Buy| Target Rs 332| Stop Loss Rs 311
The stock has given an inverse head and shoulder pattern breakout.
: Buy| Target Rs 3850| Stop Loss Rs 3700
The stock has given a consolidation breakout.
: Sell| Target Rs 200| Stop Loss Rs 214
The stock has given an inverted cup and handle breakdown.
Brokerage: Securities told ETMarkets
Intraday Picks by Reliance Securities
Motor: Sell| Target Rs 3600| Stop Loss Rs 3800
Short position can be initiated 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
Long position can be initiated 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 told ETNow
Buy or Sell: Stock ideas by experts for September 22, 2022
ET Now spoke to various experts and here’s what they have to recommend for today’s trading session. Nooresh Merani has a buy/sell recommendation on HDFC Bank and Sun Pharma while Kunal Bothra has buy/sell recommendation on HUL and Sun Pharma for today’s trading session. Check out 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: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)