Buy or sell: Vaishali Parekh recommends three stocks to buy today — 27th June
Buy or sell stocks for today: On account of weak global market sentiments, Indian stock market ended mixed on Monday as two out of three key benchmark indices edged higher while one ended lower by a whisker. NSE Nifty gained 25 points and finished at 18,691 levels, BSE Sensex went off 9 points and ended at 62,970 mark while Bank Nifty added 18 points and closed at 43,641 levels. Broad market indices closed higher than the Nifty even as the advance decline ratio remained positive at 1.31:1.
Intraday trading strategy for Tuesday
Vaishali Parekh believes that Indian stock market sentiment is still positive as Nifty has maintained to close above 18,650 levels. Prabhudas Lilladher expert said that there can be some pull back on Dalal Street but we can expect Nifty to climb to a new peak only when there is a decisive breach of 18,800 hurdle. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those three day trading stocks are Aptech, Samvardhana Motherson and Bharat Forge.
On outlook for Nifty today, Vaishali Parekh said, “Nifty with the overall trend still maintained positive, has managed to hold on near the crucial support zone of the 20EMA level of 18,650 zone and has closed marginally in the green with the broader markets once again indicating a strong pullback to improve the bias and sentiment. As said earlier, with a decisive move past the 18,800 zone would once again bring hopes for breaching the new High levels and carry on the momentum still further ahead for fresh upside targets.”
“Bank Nifty continue to remain passive with very narrow movement visible during the intraday session with all the frontline banking stocks witnessing a stagnant and subdued movement. A major directional move is much needed for the index with 44,500 zone acting as strong resistance while 43,300 levels of the 50EMA maintained as the strong support,” said Parekh.
Parekh went on to add that immediate support for Nifty today is placed at 18,600 levels while the resistance is seen at 18,850 levels. Bank Nifty would have the daily range of 43,300 to 44,000 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three intraday stocks for today, here we list out full details in regard to those day trading stocks:
1] Aptech: Buy at ₹499, target ₹530, stop loss ₹482;
2] Samvardhana Motherson: Buy at ₹84.80, target ₹89, stop loss ₹83.50; and
3] Bharat Forge: Buy at ₹815, target ₹844, stop loss ₹803.
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.
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Updated: 27 Jun 2023, 06:40 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.