Stocks to buy today: List of 20 stocks for profitable trade on May 6

Taking cues from gloal markets, the domestic equity market closed flat with positive bias on Thursday as Wall Street witnessed the biggest intraday fall since 2020. IT and Auto stocks helped benchmarks from slipping in the red. The broader Nifty 50 closed flat with a marginal 0.03% gain as the index closed below 16,700 and the Sensex added merely over 30 points to settle near 55,700.  

"The benchmark Nifty failed to give any decisive move as it remained within the previous day's range. On the daily chart, Nifty has formed an inside-day bar, suggesting indecisiveness," said Rupak De, Senior Technical Analyst at LKP Securities. He said daily RSI is in bearish crossover. "The trend remains weak. At the lower end, support is seen at 16600, whereas resistance is visible at 16950-17000," added Rupak De.  

Meanwhile, on Friday, Asian markets were trading deep in the red amid fears that the U.S. Federal Reserve and other major central banks will have to raise interest rates even more aggressively than planned to combat red-hot inflation, potentially pushing economies into a recession. 

All major Asian indices were in the red on Friday. Japanese Nikkei 225 was down 0.10%, Hang Seng Index at the Hong Kong Exchange declined more than 2.5% and Chinese Shangahi Composite was trading lower by 1.5% around 8 am on Friday.  

Earlier, the US market witnessed the biggest intraday fall since 2020 as Wall Street benchmarks Dow Jones closed with over 1000 points loss, Nasdaq dropped nearly 650 points and S&P 500 settled with a cut of more than 150 points on Thursday. 

Meanwhile ahead of the market opening, Zee Business research team brings you a list of stocks for profitable trade. These stocks have been picked from cash, F&O and techno space to help investors make money in short to long term basis. Below is the list of 20 stocks on May 6, 2022.  

Kushal Gupta Stock Picks  

Cash 
Andhra Paper - Buy - 355, sl - 338 
 
FTR 
JSPL - Sell - 507, sl - 530 
 
OPTN 
Tata Steel 1280 PE@37 - Buy - 50, sl - 31 
 
Techno 
DLF - Sell - 330, sl - 346 
 
Funda 
Tata Power - Buy - 300 
Duration - 1 year 
~~~~~~~~~~~~~~~~~~~~~ 
IPL 
Affle India - Buy - 1500 
Duration - 1 year 
 
News 
Vedanta - Sell - 392, sl - 412 
 
Mychoice 
JSW Steel - Sell - 680, sl - 719 
Wipro - Sell - 485, sl - 510 
Hindustan Copper - Sell - 106, sl - 112 
 
Best Pick 
JSPL - Sell - 507, sl - 530 
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Ashish Chaturvedi Stock Picks 
CASH KA STOCK 
BUY DCM SHRIRAM LTD TARGET 1255 SL 1197 
 
FUTURES 
SELL RBL BANK TARGET 113 SL 122 
 
OPTIONS 
BUY SUNTV 460 PE TARGET 20 SL 12 
 
TECHNO 
SELL DELTACORP TARGET 245 SL 260 
 
 
FUNDA 
SELL MCX TARGET 1250 SL 1320 
 
IPL STOCK 
BUY ITC TARGET 288 DURATION 6-9 MONTHS 
 
STOCK IN NEWS 
SELL VOLTAS TARGET 1130 SL 1165 
 
 
MY CHOICE 
SELL INDUSIND BANK TARGET 910 SL 948 
SELL TATA COMMUNICATIONS TARGET 997 SL 1035 
SELL TECH MAHINDRA TARGET 1235 SL 1278 
 
 
MY BEST 
SELL RBL BANK TARGET 113 SL 122