Buy or sell: Vaishali Parekh recommends three stocks to buy today — 11th July
Buy or sell stocks for today: After trading range-bound for the entire Monday session, Indian stock market ended mixed as Nifty and Sensex finished with some marginal gains while Bank Nifty closed lower. NSE Nifty ended 24 points higher at 19,355 while BSE Sensex closed 63 points higher at 65,344 levels. Bank Nifty lost 64 points and finished at 44,860 mark. In broad market, small-cap index corrected 0.26 per cent whereas mid-cap index went off 0.45 per cent.
Intraday trading strategy fro Tuesday
Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that overall market sentiment is little bit cautious even though Nifty has consolidated around 19,350 levels in last two sessions. Prabhudas Lilladher expert went on to add that immediate support for Nifty today is 19,250 while upper side target of 19,800 to 19,900 is still intact. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are GRSE, REC and Adani Enterprises.
On outlook for Nifty today, Vaishali Parekh said, “Nifty has witnessed consolidation near 19,350 zone maintaining the support since the last 2 sessions and with some profit booking seen in select counters has made the overall bias little bit cautious. With some profit booking also seen in the broader market section, we have the near-term support zone for the Nifty index near 19,300 levels as said earlier, whereas the upside target remains intact at 19,800 to 19,900 levels once a decisive breach above 19,500 is established.”
“Bank Nifty has slightly slipped down as compared to Nifty index in the past 2 sessions with some of the major frontline banking stocks like HDFC Bank and Axis Bank shedding some of their gains to drag the index down. The important levels for the index as mentioned earlier, remain intact with near-term support at around 44,500 levels while on the upside has potential to go further till 46,200 to 46,400 zone if a decisive breach above 45,500 is confirmed,” said Parekh.
Parekh went on to add that immediate support for Nifty today is placed at at 19,250 levels while the resistance is seen at 19,500 levels. Bank Nifty would have the daily range of 44,600 to 45,200 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 Vaishali Parekh stock recommendations:
1] GRSE: Buy at ₹579.50, target ₹607, stop loss ₹570;
2] REC: Buy at ₹166.50, target ₹172, stop loss ₹165; and
3] Adani Enterprises: Buy at ₹2410, target ₹2530, stop loss ₹2370.
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: 11 Jul 2023, 06:42 AM IST
