Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — February 21
2 min read . Updated: 21 Feb 2023, 06:45 AM IST
Premium- Buy or sell: Nifty is standing at crucial support of 17,800, says Vaishali Parekh of Prabhudas Lilladher
Buy or sell stocks for today: Despite strong and positive sentiments in global markets, Dalal Street continued to remain under the bears' grip for second day in a row on Monday. 50-stock Nifty corrected 99 points and finished at 17,844, 30-stock index Sensex dipped 311 points and closed at 60,691 while Bank Nifty index went down 430 points and ended at 40,701 levels.
Intraday trading strategy for Tuesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty is standing at a crucial support of 17,800 levels. Prabhudas Lilladher expert went on to add that Dalal Street sentiments may further worsen if this crucial support is breached. She said that move above 18,000 is important for trend reversal at Indian stock market. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three stocks are Coforge, TVS Motor and Gujarat Gas.
Speaking on outlook of Nifty today, Vaishali Parekh said, "Nifty after opening on a flat note resisted near the 18000 zone and slipped further with profit booking witnessed maintaining the 17,800 levels as of now. Once again, as said earlier, the index has got the crucial and significant support zone of 17,800 levels, which if broken can turn matter further worse, while at the same time a move past the 18,000 zone is necessary to improve the sentiment as of now."
Vaishali Parekh went on to add that Bank Nifty witnessed intense selling pressure as compared to Nifty index breaking the crucial support zone of 40800 during the intraday session to weaken the bias and sentiment.
"Major frontline banking stocks like ICICI Bank, Kotak Bank, SBI, Axis Bank and HDFC Bank have shed their gains and is very near to their near term important support zones. The support for the day is seen at 17,700 while the resistance is seen at 18,000. Bank Nifty would have the daily range of 40,200 to 41,200 levels," Parekh added.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three stocks to buy today, here we list out full details in regard to those intraday stocks:
1] Coforge: Buy at ₹4335, target ₹4420, stop loss ₹4275;
2] TVS Motor: Buy at ₹1130, target ₹1165, stop loss ₹1112; and
3] Gujarat Gas: Buy at ₹499, target ₹527, stop loss ₹490.
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.