Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — February 13
Buy or sell stocks for today: Following weak global cues on inflation worries, Indian stock snapped two days rally and finished lower on Friday last week. Nifty 50 index slipped by marginal 36 points and closed at 17,856 while BSE Sensex lost 123 points and closed at 60,682 levels. Bank Nifty added 5 points and closed at 41,559 levels. Nifty witnessed a range-bound price action throughout the week gone by and closed 0.01 per cent higher on a weekly closing basis. However, in last week session, our markets have stabilized as the negative impact of the sharp correction in the Adani group stocks over the broader markets have subsided. India VIX has declined to below 13.
Stock market today: Intraday strategy for Monday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has managed to sustain above 17,800 level that signals about positive bias being still intact on Dalal Street. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those three shares are Voltas, Tata Motors and Indian Hotel.
On Outlook for Nifty today, Vaishali Parekh of Prabhudas Lilladher said, “Nifty witnessed a lack lustre day with a very narrow range-bound movement seen during the entire session and ended near the 17,850 zone with a marginal loss. The index has managed to remain above the crucial 17800 zone which is quite important to maintain the bias and sentiment intact as of now.”
“Bank Nifty once again remained very stagnant witnessing resistance barrier near 41700 zone and hovered within a very narrow range. The support for Nifty today is seen at 17,700 while the resistance is seen at 18,000. Bank Nifty would have the daily range of 41100-42000 levels,” Prabhudas Lilladher expert added.
Stocks to buy today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended three stocks to buy today, here we list out full details in regard to those intraday stocks for today:
1] Voltas: Buy at ₹849, target ₹877, stop loss ₹836;
2] Tata Motors: Buy at ₹445, target ₹460, stop loss ₹438; and
3] Indian Hotel: Buy at ₹323, target ₹335, stop loss ₹317.
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.