Stocks to buy today: MCX, IndusInd Bank among top 6 trading ideas for 6 February 2025

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Indian benchmark equity indices opened higher on Thursday, driven by gains in financial and IT stocks, as optimism over a potential rate cut later this week to boost economic growth outweighed concerns about global trade uncertainty.

At around 9:19 am, the BSE Sensex was up 151 points, or 0.19%, at 78,422, while the Nifty50 gained 34 points, or 0.14%, to trade at 23,730.


"After a positive opening, Nifty can find support at 23,600 followed by 23,500 and 23,400. On the higher side, 23,800 can be an immediate resistance, followed by 23,900 and 24,000," said Hardik Matalia, Derivative Analyst at Choice Broking.

“The market is moving into a consolidation phase on expectations of a pick up in growth in the coming quarters. In the near-term the market is likely to get a mild boost from a possible 25 bp rate cut by the MPC tomorrow. Even though steadily depreciating INR doesn’t provide a favourable macro backdrop for a rate cut, the MPC is likely to go for a 25 bp cut tomorrow to keep the optimistic momentum provided by the Budget going," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.


We have collated stocks from various experts for traders who have a short-term trading horizon:


Expert: Jayesh Bhanushali, Sr Derivatives &Technical Research Analyst told ETBureau


L&T Technology Services: Buy | Target price: Rs 5,840 | Stop loss: Rs 5,450JK Cement: Buy | Target price: Rs 5,120 | Stop loss: Rs 4,760MCX: Buy | Target price: Rs 6,360 | Stop loss: 5,930


Expert: Nooresh Merani, an independent technical analyst told ETNow


Reliance: Buy | Target price: Rs 1,350 | Stop loss: Rs 1,250

IndusInd Bank: Buy | Target price: Rs 1,180 | Stop loss: Rs 1,030

IEX: Buy | Target price: Rs 195 | Stop loss: Rs 174

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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