PremiumBuy or sell stocks for today: During one hour special Muhurat trading session on Monday, Indian stock market ended at one month high and logged gains on seventh straight session. Led by strong buying in ICICI Bank and HDFC Bank shares, Nifty Bank index shot up 520 points and closed at 41,304 levels. Nifty 50 index went up 154 points and closed at 17,730 whereas BSE Sensex surged 524 points and closed at 59,831 mark. In broader markets, BSE Small-cap index went up 0.99 per cent while mid-cap index advanced near 0.50 per cent on Monday Muhurat trading session.
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that overall bias for the India stock market is positive till Nifty is trading above 17,400 levels. She said that on Friday Bank Nifty outperformed Nifty due to the strong Q2FY23 results of the Axis Bank. Asked about intraday stocks for today, Vaishali Parekh of Prabhudas Lilladher recommended two day trading stocks to buy today and those two shares are Metropolis Healthcare and Coromandel International.
"On Friday session, Nifty opened near the 17,600 levels and throughout the session with a rangebound movement and some volatility after the lunch session to end on a flat note. Bank Nifty outperformed the Nifty index on the back of excellent result outcome from Axis Bank which was the limelight in the banking sector and witnessed a cross of 40,800 zone during the intraday session," said Vaishali Parekh.
Prabhudas Lilladher expert went on to add, "The overall bias and sentiment are maintained strong as long as Nifty index remains above the 17,400 zone as of now. The support for the day is seen at 17,400 while the resistance is seen at 17,750. Bank Nifty would have the daily range of 40,400 to 41,500 levels."
As mentioned above Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today. Here we list out details in regard to Vaishali Parekh's recommendations:
1] Metropolis Healthcare: Buy at ₹1588, target ₹1645, stop loss ₹1565; and
2] Coromandel International: Buy at ₹994, target ₹1035, stop loss ₹977.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.