- Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today — Tata Consumer and M&M
Buy or sell stocks for today: Following strong buying interest on Wall Street, key Indian indices closed at historical levels on Thursday session. 50-stock index Nifty closed at record high whereas BSE Sensex and Nifty Bank index hit all-time high on Thursday. NSE Nifty gained 216 points and made a closing high of 18,484 whereas BSE Sensex surged 762 points and closed at 62,272 after climbing to a new peak of 62,412 levels. Nifty Bank index shot up 346 points and closed at 43,075 mark after hitting a new peak of 43,163.
Day trading guide for stock market today
Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that Indian stock market has broken the sideways chain and it is now heading for a strong upside move. Vaishali Parekh of Prabhudas Lilladher believes that market sentiment is highly bullish and most of the major frontline stocks like HDFC twins, ICICI Bank, SBI, TCS, Infosys, M&M, L&T, Reliance and Bharti Airtel getting into a strong zone with much upside potential visible on chart pattern. On intraday stocks for today, Prabhudas Lilladher recommended two stocks to buy today and those two stocks are Tata Consumer and M&M.
“Nifty has overall maintained a strong support zone near 18000 levels and currently with a higher lows formation pattern in the daily chart has picked up momentum and is heading to retest the previous peak zone of 18600 levels and with an Inverted Head and Shoulder formation pattern visible on the daily chart has suggested for a bullish view after the confirmation of a neckline breakout above 18500 level established,” said Parekh.
Stocks in focus
“We anticipate for further rise with strength indicated with most of the major frontline stocks like HDFC twins, ICICI Bank, SBI, TCS, Infosys, M&M, L&T, Reliance and Bharti Airtel getting into a strong zone with much upside potential visible which can carry the Nifty index to new high. The support for the day is seen at 18350 while the resistance is seen at 18650. Bank Nifty would have the daily range of 42600-43600 levels,” Prabhudas Lilladher expert added.
Intraday stocks for today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended 2 stocks to buy today. Here we list out details in regard to those shares:
1] Tata Consumer: Buy at ₹792, target ₹830, stop loss ₹777; and
2] M&M: Buy at ₹1254, target ₹1280, stop loss ₹1238.
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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