Buy or sell: Vaishali Parekh recommends three stocks to buy today — 4th July
Buy or sell stocks for today: Indian stock market extended its rally for fourth straight session on Monday. All three key benchmark indices — Nifty, Sensex and Bank Nifty climbed to a new peak. NSE Nifty hit a new peak of 19,345 while BSE Sensex climbed to a new life-time high of 65,300 levels. Bank Nifty index hit a new high of 45,353 mark. In broad market, small-cap index maintained its bull trend and hit new high of 32,884 while mid-cap index surged to a new all-time high of 28,938 levels.
Intraday trading strategy for Tuesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall market trend is positive. Prabhudas Lilladher expert went on to add that Nifty has ended above 19,300 levels and now the 50-stock index is poised for next levels of 19,700 to 19,800 mark. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Kalpataru Power, MGL and SAIL.
On outlook for Nifty today, Vaishali Parekh said, “Nifty continued with the strong upward move for the 4th consecutive session breaching above the 19300 zone decisively and has the next target of around 19,700-19,800 levels in the coming days. The major frontline stocks like RIL, SBI, ITC, Bajaj Finance and HDFC twins helped the indices to gain further and has much upside potential from here with strength indicated.”
“Bank Nifty also gained momentum to breach above the 45000 landmark with strength indicated and further immense potential to carry on the momentum for the next upside targets of 46400-46600 levels in the coming sessions with most of the major frontline banking stocks well poised for further gains,” Parekh said.
Parekh went on to add that support for Nifty today is placed at 19,200 levels while the resistance is seen at 19,500 levels. Bank Nifty would have the daily range of 44,800 to 45,600 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] Kalpataru Power: Buy at ₹555, target ₹580, stop loss ₹547;
2] MGL: Buy at ₹1080, target ₹1125, stop loss ₹1065; and
3] SAIL: Buy at ₹87.50, target ₹92, stop loss ₹86.
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.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 04 Jul 2023, 06:45 AM IST
