Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — 11th April
2 min read . Updated: 11 Apr 2023, 06:55 AM IST
Premium- Buy or sell stocks for today: Vaishali Parekh has recommended three day trading stocks for today — HAL, Pidilite Industries and VIP Industries
Buy or sell stocks for today: The upside momentum continued in the Indian stock market for the sixth consecutive sessions on Monday, but the emergence of intraday selling pared early morning gains of key benchmark indices — Nifty, Bank Nifty and Sensex. 50-stock index Nifty ended 24 points higher at 17,624 while 30-stock index Sensex finished 13 points higher at 59,846 mark. However, Nifty Bank index shed 206 points and ended on Monday at 40,834 mark. Midcap index rose more than the Nifty even as the advance decline ratio remained above par at 1.13:1.
Day trading strategy for Tuesday
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Nifty 50 index is facing resistance at 17,700 levels. Prabhudas Lilladher expert said that it is important for Nifty to close above 17,650 levels otherwise profit booking trigger may lead to further slide in Nifty today. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Hindustan Aeronautics Ltd (HAL), Pidilite Industries and VIP Industries.
On outlook for Nifty today, Vaishali Parekh said, "Nifty saw a gradual upward journey in the initial half with a gradual profit booking process in the second half of the trading session to end on a flat note finding resistance near the 17700 zone as of now. It is important for the index to close above the 17650 zone decisively else another lower top formation would suggest for further slide from current levels and can weaken the bias again."
"Bank Nifty, on the other hand, witnessed profit booking and slipped from the 41150 level finding resistance and has indicated a lower top formation in the making where further slide would confirm the completion of the pattern. A decisive move past the 41200 is necessary to carry on with the positive move ahead with near term support seen near 40500 zone," said Parekh.
Vaishali Parekh of Prabhudas Lilladher went on to add that support for NSE Nifty today is placed at 17500 levels while the resistance is seen at 17750 levels. Bank Nifty would have the daily range of 40500-41200 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three day trading stocks to buy, here we list out full details in regard to those intraday stocks:
1] HAL: Buy at ₹2816, target ₹2920, stop loss ₹2775;
2] Pidilite Industries: Buy at ₹2355, target ₹2460, stop loss ₹2315; and
3] VIP Industries: Buy at ₹601, target ₹622, stop loss ₹590.
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.