- Buy or sell stocks: Vaishali Parekh of Prabhudas Lilladher believes that overall bias is maintained with a cautiously positive approach
Buy or sell stocks fro today: Taking Cues from the US markets and the SGX Nifty, key benchmark indices on Dalal Street started the day on a negative note. However, they staged handsome recovery in later half and finished close to their Friday’s closing levels. Nifty 50 index gained 0.55 points and closed at 18,497.15 whereas Sensex shed 51 points and ended at 62,130 levels. However, Bank Nifty continued its outperformance by gaining 0.20 per cent to close at yet another all-time high levels. Among broader markets, mid-cap and small-cap indices outperformed Nifty whereas advance decline ratio on BSE ended at 1.04:1 mark.
Stock market today: Day trading strategy for Tuesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50 index need to breach the 18,650 zone on the upside to improve the bias and establish a conviction for further upward movement. Expecting further upside movement in Bank Nifty index, Vaishali Parekh of Prabhudas Lilladher said that the banking index may go up to 45,500 to 46,000 levels. Asked about stocks to buy today Vaishali Parekh recommended two shares to buy today and those two shares are RCF and Apollo Hospitals.
On intraday trading strategy, Vaishali Parekh said, “Nifty after opening on a weak note regained momentum to touch the 18,500 zone where it faced resistance and closed near the zone to end on a flat note. The index need to breach the 18,650 zone on the upside to improve the bias and establish a conviction for further upward move.”
Prabhudas Lilladher went on to add that Bank Nifty has once again maintained above the 43,500 zone with improved bias as compared to Nifty index and is in a strong zone to anticipate for further upward move with targets of 45,500 to 46,000 expected.
“The overall bias is maintained with a cautiously positive approach especially for Nifty index with 18200 as the major crucial support zone. The support for the day is seen at 18350 while the resistance is seen at 18650. Bank Nifty would have the daily range of 43400-44200 levels,” Parekh said.
Intraday stocks for today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today. Here we list out full details below:
1] RCF: Buy at ₹135, target ₹141, stop loss ₹132; and
2] Apollo Hospitals: Buy at ₹4742, target ₹4850, stop loss ₹4680.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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