PremiumBuy or sell stocks for today: Following weak sentiments at global markets, Dalal Street continue to remain under bears' hold on second straight session on Thursday. 50 stocks index Nifty 50 lost 128 points and closed at 18,028, BSE Sensex tumbled 419 points and closed at 60,613 levels whereas Bank Nifty corrected 179 points and closed at 41,603 mark. Broad market indices fell more than the Nifty even as the advance decline ratio fell to 0.44:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall sentiment is cautiously positive till date. Vaishali Parekh of Prabhudas Lilladher said that Bank Nifty index needs a decisive breach above the 41,800 zone to establish some conviction and anticipate for further fresh upward move. On intraday stocks for today, Prabhudas Lilladher expert listed out two shares to buy today and those two stocks are HDFC Bank and Hero Motocorp.
On intraday trading tips, Vaishali Parekh said, "Nifty opened with a gap down extending the losses further and breached below the 18000 zone during the intraday session to indicate some weakness for the time being but managed to close above significant 18000 level but has turned down the daily trend after 17 days to bring about some cautious approach as of now. Bank Nifty witnessed some recovery post the lunch session after the initial slide to improve the bias to some extent and as said earlier, the index would need a decisive breach above the 41800 zone to establish some conviction and anticipate for further fresh upward move."
"The overall bias has been maintained cautiously positive as of now, with the support for the day is seen at 17900 while the resistance is seen at 18150. Bank Nifty would have the daily range of 41200-42100 levels," Parekh added.
As mentioned above, Vaishali Parekh has recommended two stocks to buy today. Here we list out important details in regard to those two shares:
1] HDFC Bank: Buy at ₹1524, target ₹1568, stop loss ₹1495; and
2] Hero Motocorp: Buy at ₹2712, target ₹2780, stop loss ₹2675.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.