Buy or sell: Vaishali Parekh recommends buying in 3 stocks today — 28 June
Equity benchmark index Sensex ended a three-session losing streak to close nearly 450 points higher on Tuesday, helped by intense buying in index majors HDFC twins, ICICI Bank and Axis Bank amid a mixed trend in the global markets.
The 30-share BSE Sensex jumped 446.03 points or 0.71 per cent to settle at 63,416.03 points. During the day, it advanced 497.54 points or 0.79 per cent to 63,467.54 points. NSE Nifty climbed 126.20 points or 0.68 per cent to end at 18,817.40 points.
The BSE Sensex and NSE Nifty 50 were trading higher in the second half of Tuesday’s session as a result of significant purchasing in companies related to banking, financial services, real estate, and information technology.
The broader market was in line with the benchmark indices, the Nifty Midcap 100 closed 0.50% higher and Nifty Smallcap ended 0.60% higher.
Day trade guide by Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher for Wednesday’s session:
She said, Nifty witnessed a strong rise especially in the second half of the session once again to move past the 18800 zone and closed on a positive note with improved bias and sentiment.
“HDFC twins pulled the index in the final hours along with other banks like ICICI Bank, SBI, Axis Bank and Kotak Bank with the new Highs in close vicinity for both Nifty and BankNifty indices. BankNifty after a long time has witnessed a promising move to close above the 44000 zone with much improved bias and sentiment anticipating for the barrier zone of 44500 to be breached in the coming sessions. The daily trend of the index has turned up after 13 days which is quite a good sign with 43300 levels maintained as a strong support zone. The support for the day is seen at 18700 levels while the resistance is seen at 18950 levels. BankNifty would have the daily range of 43800-44500 levels,” she said.
Parekh recommends buying the following stocks:
Buy Chalet Hotels at 420 with a stop loss 412 and a target price of 440
Buy Zensar Tech at 383 with a stop loss 378 and target price of 400
Buy SBI Card at 860 with a stop loss 846 and target price of 890
Nifty Spot Index
Support – 18700/18650
Resistance – 18950/19000
Bank Nifty Spot Index
Support – 43800/43750
Resistance – 44500/44550
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Updated: 28 Jun 2023, 06:11 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.