Buy or sell: Tech Mahindra to Asian Paints — Vaishali Parekh recommends three stocks to buy today — April 5
Buy or sell stocks: After showing a range-bound action in the last three sessions, the Indian stock market showed high volatility of up and down swings near new all-time highs on Thursday. The Nifty 50 index gained 80 points and ended at 22,514 level, the BSE Sensex shot up 350 points and finished at 74,227 mark whereas the Bank Nifty index surged 436 points and closed at 48,060 level. The 50-stock index touched a new lifetime high of 22,619 as well. In the broad market, the small-cap index gained 0.54 percent while the mid-cap index went off 0.11 percent.
Intraday trading stocks for today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Indian stock market bias has gained further strength after the close of the Nifty 50 index above the 22,500 level. The Prabhudas Lilladher expert went on to add that the Nifty 50 index is looking all set to touch the immediate target of 22,800 level. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — Asian Paints, UPL, and Tech Mahindra.
Stock market today
On the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index finally managed to close above the 22,500 zone with bias maintained strong and the scope further upward move has much improved with next targets of 22,800 and 23,200 levels visible in the coming days. The Nifty 50 index has maintained the near-term support of 22,300 levels as of now and further gains are anticipated with frontline stocks have started to indicate improvement in their bias.”
“The Bank Nifty index with the support of HDFC Bank share price rise, rallied to close above the 48,000 level with bias improved and is aiming to retest the previous peak zone of 48,636 levels in the coming days, with the near-term important support maintained would be 46,800 zone of the significant 50EMA level,” said Parekh.
Parekh went on to add that Nifty today has immediate support placed at 22,400 levels while the resistance would be seen at 22,700 levels. The Bank Nifty index would have a daily range of 47,600 to 48,500 levels.
Vaishali Parekh stocks to buy today
1] Asian Paints: Buy at ₹2918, target ₹3050, stop loss ₹2860;
2] UPL: Buy at ₹493, target ₹517, stop loss ₹482; and
3] Tech Mahindra: Buy at ₹1279, target ₹1330, stop loss ₹1255.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download Finplay News App to get Daily Market Updates.
More
Less
Published: 05 Apr 2024, 06:39 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.