Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — March 10
2 min read . Updated: 10 Mar 2023, 08:10 AM IST
Premium- Buy or sell: For Nifty today, major support zone lies near 17,500 to 17,550 levels, believes Vaishali Parekh
Buy or sell stocks for today: On account of weak global cues, Dalal Street took a pause after rising for three straight sessions. Nifty 50 index ended 164 points lower at 17,589 levels while 30-stock Sensex dipped 541 points and closed at 59,806 mark. Nifty Bank index corrected to the tune of 320 points or 0.77 per cent and finished at 41,256 levels. In broad market, small-cap index went off 0.20 per cent whereas mid-cap index 0.55 per cent. Advance decline ratio finished at 0.72:1.
Intraday trading strategy for stock market today
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that sentiments on Dalal Street have turned weak once again. However, Prabhudas Lilladher expert maintained that Nifty has strong support at 17,550 to 17,500 levels. Asked about stocks to buy today, Vaishali Parekh recommended two intraday stocks for today and those two shares are SBI Card and Kaveri Seeds.
On outlook for Nifty today, Vaishali Parekh said, "Nifty once again resisting near 17,750 witnessed heavy profit booking to slide significantly and ended near the lower end at 17,600 zone with sentiment turning weak once again. On the downside the major support zone lies near 17,500 to 17,550 levels, which needs to be maintained else can witness intensified selling pressure with next major support seen near 17,200 levels."
Parekh went on to add that Bank Nifty also has been resisting near the 41,700 zone since the past three sessions and witnessed profit booking as well to slide down to 41,200 levels with bias turning little bit cautious once again.
"Near term support for Nifty Bank is placed around 40,800 levels, which if breached can turn the bias weak with next major support visible near 39,700-39,800 zone. The support for the day is seen at 17,550 while the resistance is seen at 17,750. Bank Nifty would have the daily range of 40,800-41,700 levels," said Parekh.
Day trading stocks to buy today
As mentioned above, Vaishali Parekh has recommended two intraday stocks for today, here we list out full details in regard to those shares:
1] SBI Card: Buy at ₹767, target ₹795, stop loss ₹755; and
2] Kaveri Seeds: Buy at ₹565, target ₹587, stop loss ₹556.
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.