Buy or sell: Vaishali Parekh recommends three stocks to buy today — 25th August
Buy or sell stocks for today: Indian stock market opened higher but ran into profit booking pressure and ended lower on Thursday. Among key benchmark indices, NSE Nifty lost 57 points and closed at 19,386 levels while BSE Sensex shed 180 points and ended at 65,252 mark. However, Bank Nifty index finished 17 points higher at 44,496 levels. Advance decline ratio on the NSE was almost even as the broad market indices ended marginally positive on the previous session.
Intraday trading strategy for Friday
Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that Indian stock market sentiments has once again turned cautious as Nifty ended below 19,400 after facing resistance at 19,600 levels. Prabhudas Lilladher expert went on to add that Nifty needs to maintain the crucial support of 19,270 to keep Dalal Street bias positive. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Asian Paints, Borosil Renewables and Britannia Industries.
On outlook for Nifty today, Vaishali Parekh said, “Nifty after the positive opening session resisted near the 19,600 zone as mentioned earlier and witnessed heavy profit booking to slide down as the day progressed to end in the red below the 19,400 zone erasing all the gains. Once again the sentiment has turned little bit cautious and would need to maintain the crucial support zone near 19,270 levels for the bias to remain positive overall.”
“Bank Nifty also opened positively and almost touched the 45000 zone, thereafter slipping down to wipe off the gains and ended flat near the 44,500 levels which is where the significant 50EMA lies. As mentioned earlier, the index would have the major support zone near 43,400 zone which would be crucial while on the upside need to breach above the 45,000 levels to carry on the momentum further ahead,” said Parekh.
Stocks to buy today
As mentioned earlier, Vaishali Parekh has recommended three intraday stocks for today, here we list out full details in regard to those day trading stocks:
1] Asian Paints: Buy at ₹3225, target ₹3340, stop loss ₹3180;
2] Borosil Renewables: Buy at ₹447, target ₹468, stop loss ₹440; and
3] Britannia: Buy at ₹4542, target ₹4750, stop loss ₹4475.
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: 25 Aug 2023, 06:46 AM IST
