Buy or sell: Cyient to Gujarat Alkalies — Vaishali Parekh recommends three stocks to buy today — April 4
- Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Cyient, Gujarat Alkalies, and Finolex Cables
Buy or sell stocks for today: On account of the US Fed Chair Jerome Powell's speech later in the day, the Indian stock market remained choppy on the entire Wednesday session. The Nifty 50 index went off 18 points and closed at the 22,434 level, the BSE Sensex shed 27 points and ended at the 73,876 mark while the Bank Nifty index gained 78 points and finished at the 47,624 level. Cash market volumes on the NSE inched up to Rs.1.07 lakh crore. The broad market indices rose more than 0.5 percent even as the advance-decline ratio remained positive at 2.75:1.
Intraday trading tips for Thursday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index is in the 22,350 to 22,500 zone and a decisive breach above the 22,500 levels shall trigger for fresh upward move. The Prabhudas Lilladher expert went on to add that on breaching the 22,500 hurdles, the 50-stock index may go up to 22,800 and 23,400 levels. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks for today — Cyient, Gujarat Alkalies, and Finolex Cables.
Stock market today
On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index once again was gripped between the tight range of 22,500 and 22,350 zones as it continued since the last 3 sessions with the bias and sentiment remaining positive. A decisive breach above the 22,500 levels shall trigger for fresh upward move as said earlier for the next targets of 22,800 and 23,400 levels in the coming days."
"The Bank Nifty index in a similar manner is having a sluggish movement and would need a decisive breach above the 47700 zone to trigger for further upward move to retest the previous peak zone of 48,600 levels. On the downside, the levels near 46,600 would remain as the good support zone as of now," said Parekh.
Parekh went on to add that Nifty today has immediate support placed at 22,300 level while the resistance would be seen at 22,600 level. The Bank Nifty would have a daily range of 47,200 to 48,000 levels.
Vaishali Parekh stocks to buy today
1] Cyient: Buy at ₹2067, target ₹2170, stop loss ₹2015;
2] Gujarat Alkalies: Buy at ₹737, target ₹770, stop loss ₹721; and
3] Finolex Cables: Buy at ₹1014.70, target ₹1060, stop loss ₹990.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.l
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