Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — April 3
2 min read . Updated: 03 Apr 2023, 07:29 AM IST
PremiumStock market today: Prabhudas Lilladher expert believes that stock market sentiments have improved after Nifty breached barrier placed at 17,200 levels
Buy or sell stocks for today: Following strong global sentiments and buying on financial year end, Indian stock market outperformed Asian share market on Friday. On the last session of FY23, NSE Nifty ended 279 points higher at 17,359 whereas BSE Sensex finished 1031 points northward at 58,991 levels. Nifty Bank index shot up 698 points and closed at 40,608 mark. In broad market, small-cap index ascended 1.35 per cent whereas mid-cap index appreciated to the tune of near 1 per cent.
Stocks to buy today — 3rd April
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that stock market sentiments have improved after Nifty breached barrier placed at 17,200 levels. Prabhudas Lilladher expert went on to add that Nifty may go up to 17,550 to 17,600 levels from here. On stocks to buy today, Vaishali Parekh recommended three day trading stocks and those three intraday stocks are ICICI Bank, TCS and GNFC.
On outlook for Nifty today, Vaishali Parekh said, "Nifty finally breached above the resistance barrier of 17,200 zone witnessing a relief rally on the final day of the financial year to end on a positive note to improve the bias and sentiment anticipating for further upward move in the coming days. The index has got the next upside target of 17550-17600 zone as indicated by the descending channel pattern on the daily chart with the significant 200 DMA lying near 17,500 zone."
"Bank Nifty also have moved past the 40,200 zone which was acting as a hurdle and with the bias improving is expected to rise further for the next near-term target of 41300-41500 zone. The near-term support is maintained strong at around 39800 zone which is where the important 200DMA lies," said Parekh.
Parekh went on to add that support for Nifty is placed at 17200 levels while the resistance is seen at 17500 levels. Bank Nifty would have the daily range of 40200-42000 levels.
Intraday stocks for today
As mentioned above, Vaishali Parekh has recommended three stocks to buy today, here we list out full details in regard to those day trading stocks:
1] ICICI Bank: Buy at ₹877, target ₹905, stop loss ₹864;
2] TCS: Buy at ₹3205, target ₹3345, stop loss ₹3155; and
3] GNFC: Buy at ₹509, target ₹528, stop loss ₹500.
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.