Buy or Sell Stocks Today: 3 Intraday Trading Stocks Recommended by Vaishali Parekh
Key Highlights :
The Indian stock market closed higher on Monday for the third day in a row, with NSE Nifty gaining 99 points and closing at 18,598, and BSE Sensex shooting up 344 points and finishing at 62,846 levels. Bank Nifty index hit a new life-time high of 44,483 but finally ended 293 points up at 44,311 mark. Broad market indices rose less than the Nifty even as the advance decline ratio remained firm at 1.26:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the overall trend for the Indian stock market today is positive, and that Nifty is poised for further upside movement and may go up to 18,900 levels in the near term. Asked about stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today. These stocks are Voltas, IRCTC, and Jindal Steel.
On outlook for Nifty today, Vaishali Parekh said, “Nifty has witnessed a strong gap up opening near 18,600 zone and thereafter remained rangebound for rest part of the session with positive bias maintained and expecting for further upward move. We anticipate the index to attain the next targets of 18,800 to 18,900 zone with most of the frontline stocks like RIL, ITC , HDFC Bank, M&M and SBI looking good for further gains in the coming days.”
“Bank Nifty made all time new high with a gap up opening above the previous peak of 44,150 levels and has entered a new territory with strong bias indicated and is anticipated to carry on the positive move for next targets of 45,900 to 46,000 levels,” said Parekh. Parekh added that support for NSE Nifty is placed at 18,450 levels while the resistance is seen at 18,750 levels. Bank Nifty would have the daily range of 44000-44800 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three day trading stocks for today. Here we list out full details in regard to those intraday stocks to buy today:
1] Voltas: Buy at ₹ 825, target ₹ 860, stop loss ₹ 812;
2] IRCTC: Buy at ₹ 645, target ₹ 672, stop loss ₹ 634; and
3] Jindal Steel: Buy at ₹ 531, target ₹ 552, stop loss ₹ 523.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Overall, the Indian stock market is showing positive signs and investors should take advantage of the current market conditions. Vaishali Parekh has recommended three intraday stocks for today, namely Voltas, IRCTC, and Jindal Steel. Investors should keep in mind the buy and target prices, along with the stop loss, and should consult certified experts before taking any investment decisions.
