- Vaishali Parekh of Prabhudas Lilladher believes that next crucial zone for Nifty 50 index on the upside is near 18200-18250 levels
Buy or sell stocks for today: After bleeding heavily on Friday, Indian stock market snapped its four days losing streak on Monday. NSE Nifty finished 207 points up at 18,014, BSE Sensex surged 721 points and closed at 60,566 whereas Bank Nifty shot up 962 points and closed at 42,630 levels. After showing a knee jerk action at the opening, the market continued to surge up for the whole session. Broad market indices rose more than the Nifty while the advance-decline ratio jumped to 5.43:1.
Intraday trading strategy for Tuesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that next crucial zone for Nifty 50 index on the upside is near 18200-18250 levels. Prabhudas Lilladher expert said that on breaching this hurdle, the bias and sentiment would regain its lost strength. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended two intraday stocks for today and those two day trading stocks are Bank of Baroda and Hindalco Industries.
Unveiling intraday trading tips for traders, Vaishali Parekh said, “Nifty witnessed a decent pullback from the low made near 17800 zone and with a huge positive candle has shown improvement in the bias to anticipate for further upward move. The next crucial zone on the upside is near 18200-18250 levels breaching which the bias and sentiment would regain its lost strength and anticipate for further upside targets. Bank Nifty also produced a decent pullback outperforming the Nifty index gaining almost 1000 points and closing above the 42500 zone has indicated signs of improvement.”
Vaishali Parekh of Prabhudas Lilladher further added that the overall bias and sentiment is still cautious and some conviction needs to be established to anticipate for further rise.
“The support for the day on Nifty is seen at 17,800 while the resistance is seen at 18,200. Bank Nifty would have the daily range of 42,000 to 43,300 levels,” said Vaishali Parekh.
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 in regard to those two shares:
1] Bank of Baroda or BoB: Buy at ₹177, target ₹183, stop loss ₹174; and
2] Hindalco Industries: Buy at ₹442, target ₹455, stop loss ₹436.
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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