Buy or sell stock: Vaishali Parekh recommends 2 shares to buy today — Dec 19
Buy or sell stock: Bank Nifty would have the weekly range of 42,000 to 44,200 levels, believes Vaishali Parekh of Prabhudas Lilladher
PremiumBuy or sell stocks: .n account of weak global sentiments after hawkish US Fed commentary on interest rate hike, Dalal Street ended red on second straight session on Friday. Nifty 50 index lost 145 points and closed at 18,269 levels whereas BSE Sensex dipped 461 points and closed at 61,337 levels. Bank Nifty index went off 278 points and finished at 43,219 mark.
Day trading strategy for Monday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty and Bank Nifty index may witness some consolidation or profit booking in upcoming sessions. Prabhudas Lilladher expert said that overall trend on Dalal Street is negative and said that support for Sensex is placed at 60,300 whereas support for Nifty 50 index is placed at 17,800 levels. Vaishali Parekh of Prabhudas Lilladher said that Bank Nifty would have the weekly range of 42000-44200 levels. On stocks to buy today, Vaishali Parekh recommended two intraday stocks for today and those two shares are Mahindra CIE Automotive and National Aluminium Company or NALCO.
"Nifty has slowed down its momentum in the past two trading session and has seen profit booking near 18600 zone. Bank Nifty also witnessing some profit booking near 44000 zone and slipping down. Overall as said earlier, Nifty has a resistance barrier band between 18500 and 18700 zone and may witness some consolidation or profit booking in the coming days. However, with the daily trend of both indices down, the overall bias is maintained negative," said Parekh.
Prabhudas Lilladher expert maintained that support for the Week is seen at 60300/17800 while the resistance is seen at 62100/18700. She went on to add that Bank Nifty would have the weekly range of 42,000 to 44,200 levels.
Intraday stocks for today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today, here we list out full details in regard to those two shares:
1] Mahindra CIE Automotive: Buy at ₹326, target ₹400, stop loss ₹290; and
2] NALCO: Buy at ₹77.35, target ₹89, stop loss ₹73.
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.
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