Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — January 16
Buy or sell stocks for today: After losing for three straight sessions, Indian stock market ended higher on Friday last week. 50-stock Nifty index shot up 98 points and closed at 17,956, 30-stock Bombay Sensitive Index or BSE Sensex gained 303 points and ended at 60,261 levels whereas Bank Nifty index finished 289 points north at 42,371 mark. IT stocks witnessed buying interest post-encouraging Q3FY23 results and guidance from frontline companies.
Intraday stocks for today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that market bias has improved to some extent after pull back rally on Friday. Prabhudas Lilladher expert said that decisive breach of 18,250 may trigger fresh upside move on NSE Nifty. On stocks to buy today, Vaishali Parekh recommended two intraday stocks for today and those two day trading stocks are GMR Infra and REC.
Unveiling intraday trading tips for Monday session, Vaishali Parekh of Prabhudas Lilladher said, “Nifty which has been maintaining the crucial support zone of 17,770 to 17,800 levels for quite some time has indicated a pullback post the morning session which further improvised to almost touch the 18,000 zone during the intraday session to improve the bias to some extent. With major frontline stocks result to be announced during the week, high fluctuations and volatility is anticipated and a decisive breach above 18,250 zone can trigger for fresh upside movement in the coming days.”
Prabhudas Lilladher expert went on to add that Bank Nifty also witnessed a decent pullback from near the crucial support zone of 41,700 levels to rise till 42,450 levels and further a decisive move past the 42,700 zone can trigger for fresh upward move for the index.
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“The support for NSE Nifty is seen at 17,800 while the resistance is seen at 18,100 levels. Bank Nifty would have the daily range of 41,800 to 42,800 levels,” said Parekh.
Day trading 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 day trading stocks:
1] GMR Infra: Buy at ₹41.10, target ₹43, stop loss ₹40.50; and
2] REC: Buy at ₹122.80, target ₹128, stop loss ₹120.50.
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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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.