Buy or sell: Vaishali Parekh recommends three stocks to buy today — 27th July
Buy or sell stocks for today: After showing weakness in the last few sessions, Indian stock market shifted into an upside bounce with volatility on Wednesday and closed in green territory. NSE Nifty gained 97 points and closed at 19,778 levels, BSE Sensex surged 351 points and ended at 66,707 whereas Bank Nifty index added 217 points and finished at 46,062 mark. Advancing shares outnumbered the declining shares as advance decline ratio stood at 1.17 on BSE, highest in last five days.
Intraday trading strategy for Thursday
Vaishali Parekh, Vice President — Research at Prabhudas Lilladher believes that pull back recovery on Wednesday has improved the market bias. Prabhudas Lilladher went on to add that for Nifty hitting 20,000 levels, it’s important for frontline stocks like RIL, ITC, L&T, Infosys and Kotak Bank, etc. to extend their respective rallies. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those three day trading stocks are M&M Finance, BSE and RCF.
On outlook for Nifty today, Vaishali Parekh said, “Nifty has indicated a higher bottom formation pattern on the daily chart with support taken near the important 19,600 zone, as mentioned earlier and with a pullback recovery witnessed has once again improved the bias to anticipate for further rise in the coming days. The sentiment has once again started improving along with frontline stocks like RIL, ITC, L&T, Infosys and Kotak Bank regaining strength after the short dip, we anticipate for further gains with near-term crucial and psychological resistance zone of 20,000 which needs to be breached decisively.”
“Bank Nifty once again closed above the 46,000 zone after a short spell of rangebound sessions witnessed and awaiting the US FED outcome which would decide the further directional move of the index with near-term support maintained at 45,500 zone whereas 46300 levels acting as an important hurdle, as said earlier in our report,” said Parekh.
Parekh went on to add that immediate support for Nifty today is placed at 19,650 levels while the resistance is seen at 19,900 levels. Bank Nifty would have the daily range of 45,600 to 46,600 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] M&M Finance: Buy at ₹320, target ₹335, stop loss ₹317;
2] BSE: Buy at ₹768, target ₹800, stop loss ₹758; and
3] RCF: Buy at ₹115, target ₹121, stop loss ₹113.
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: 27 Jul 2023, 07:30 AM IST
