Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 13
Buy or sell stocks for today: Indian stock market snapped two days rally and ended lower on Thursday. Nifty 50 index went off 17 points and closed at 19,794 levels, BSE Sensex shed 64 points and ended at 66,408 mark. However, Nifty Bank index finished 82 points higher at 44,599 levels. Small-cap index rose 0.6 pr cent even as the advance decline ratio fell to 1.38:1.
Intraday trading strategy for Friday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that near term crucial sipport for Nifty today is 19,600 whereas its immediate target is 20,000. Prabhudas Lilladher expert went on to add that Bank Nifytoday would have the daily range of 44,300 to 45,000 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks and those day trading stocks are GAIL, Cyient and Shankara Building.
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On outlook for Nifty today, Vaishali Parekh said, “Nifty witnessed a flat session with a narrow rangebound movement for the entire day but significant participation once again was witnessed from the broader markets. The index maintains have the near-term support zone of 19,600 while on the upside 20,000 zone would be the near-term target expected as of now.
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“Bank Nifty also witnessed a sluggish movement with no major movement during the session to end near the 44600 zone with overall bias maintained with a cautiously positive approach. As mentioned earlier, a decisive move past the 44700 of the important 50EMA zone is necessary to overall improve the trend and anticipate for further rise,” said Parekh.
parekh went on to add that immediate support for Nifty 50 today is placed 19,700 levels while the resistance is seen at 19,950 levels. Bank Nifty would have the daily range of 44300-45000 levels.
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Stocks to buy today
1] GAIL: Buy at ₹129.35, target Rss 137, stop loss ₹127;
2] Cyient: Buy at ₹1774, target ₹1860, stop loss ₹1750; and
3] Shankara Building: Buy at ₹763.35, target ₹805, stop loss ₹752.
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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Updated: 13 Oct 2023, 06:51 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.