Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 28

Intraday trading strategy for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street sentiments have improved after the pull back rally on Wednesday. 

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Prabhudas Lilladher expert went on to add that Nifty 50 index ending above the 19,700 zone is a good positive sign and further a decisive breach above 19,850 levels would once again turn the trend overall positive. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — BHEL, Lemon Tree and Birlasoft.

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On outlook for Nifty 50 today, Vaishali Parekh said, “Nifty after the slide witnessed in the morning session took support near the significant and crucial zone of 19,550 levels as we have been mentioning in the last 2-3 sessions and gave a decent pullback to improve the bias and sentiment significantly. The index ending above the 19,700 zone is a good positive sign and further a decisive breach above 19,850 levels would once again turn the trend overall positive to anticipate for further rise till 20,200 levels.”

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“Bank Nifty in a similar way, maintained the support near 44,200 levels and recovered to close near the 44,600 zone to improve the bias and further ahead, a decisive breach above 44,800 levels of the important 50EMA zone, shall turn the trend positive to anticipate for further upward move with 45,000 acting as the psychological barrier,” said Parekh adding, “The support for the day is seen at 19,600 levels while the resistance is seen at 19,850 levels. BankNifty would have the daily range of 44,300 to 45,000 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] BHEL: Buy at ₹126.90, target ₹135, stop loss ₹123;

2] Lemon Tree: Buy at ₹118.35, target ₹126, stop loss ₹115; and

3] Birlasoft: Buy at ₹491.50, target ₹520, stop loss ₹483.

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: 28 Sep 2023, 06:55 AM IST