Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 3
Buy or sell stocks for today: After US shutdown getting averted, Wall Street traded mixed but Nasdaq witnessed 0.67 per cent rise during Monday deals. As Indian stock market was closed on 2nd October for Mahatama Gandhi Jayanti, Dalal Street is expected to react on US shutdown news during early morning deals on Tuesday. On Friday last week, Nifty 50 index gained 114 points and closed at 19.638 levels, BSE Sensex went up 320 points and closed at 65,828 mark while Bank Nifty gained 283 points and closed at 44,584 levels.
Intraday trading strategy for Tuesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that pull back in Indian stock market on Friday last week has improve the market bias as Nifty 50 index managed to sustain above 19,500 support zone. Prabhudas Lilladher expert went on to add that relief rally witnessed on Friday sesion may become a fresh bull trend on Dalal Street once Nifty closes above 19,850 resistance zone. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — GNFC, IGL and National Aluminium.
“Exciting news! Mint is now on WhatsApp Channels ???? Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!
On Nifty 50 today, Vaishali Parekh said, “Nifty staged a pullback recovery after the heavy erosion witnessed in the previous session from the 19500 zone to touch the 19720 levels during the intraday session to slightly improve the bias and ease out the panic sentiment to some extent. Further ahead the levels of 19500 would be crucial support zone whereas on the upside a decisive breach above 19850 is necessary to overall improve the bias.”
Stocks to Watch: JSW Infra, Maruti Suzuki, TCS, Vedanta, Ultratech Cement
“Bank Nifty also witnessed a recovery but once again was not able to cross above the 44,800 zone of the important 50EMA level and closed near 44600 zone with some profit booking in the final hours. As mentioned earlier, the index would have the major support zone of 43600 levels where it should sustain and witness some stability,” said Parekh adding, “The support for the day is seen at 19500 levels while the resistance is seen at 19750 levels. BankNifty would have the daily range of 44,300 to 45,000 levels.”
Nifty 50, Sensex today: What to expect from stock market indices in trade on October 3
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] GNFC: Buy at ₹612, target ₹640, stop loss ₹600;
2] IGL: Buy at ₹456.50, target ₹475, stop loss ₹448; and
3] National Alumimium: Buy at ₹97.20, target ₹102, stop loss ₹95.
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.
“Exciting news! Mint is now on WhatsApp Channels ???? Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!
Download The Mint News App to get Daily Market Updates.
Updated: 03 Oct 2023, 08:27 AM IST
