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Buy or sell: Vaishali Parekh of Prabhudas Lilladher recommends 2 day trading stocks for today — Oct 7

Day trading strategies: With the overall sentiment and bias maintained with a cautiously positive approach, we anticipate for further upward move in the coming day, Vaishali Parekh of Prabhudas Lilladhher believes. (PTI)Premium
Day trading strategies: With the overall sentiment and bias maintained with a cautiously positive approach, we anticipate for further upward move in the coming day, Vaishali Parekh of Prabhudas Lilladhher believes. (PTI)

  • Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today — Gujarat Alkalies and Sharda Cropchem

Buy or sell stocks for today: On account of strong global cues, Dalal Street finished higher on second successive session on Thursday. Nifty 50 index ended 57 points higher at 17,331 while BSE Sensex shot up 156 points and closed at 58,222 mark. Bank Nifty index finished 172 points northward at 39,282 levels. Among sectors, realty, metals and capital goods indices rose the most while FMCG and telecom indices fell the most. Small-cap and mid-cap indices outperformed the Nifty even as the advance decline ratio was positive at 2.43:1.

Vaishali Parekh's recommendations

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that overall bias on Dalal Street is improving. Speaking on day trading strategies for today, Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today and those two shares are Gujarat Alkalies and Sharda Cropchem.

Day trading strategies

Speaking on Nifty technical outlook, Vaishali Parekh said, "Nifty extended the gains further with a gap up opening near 17380 zone and thereafter remained rangebound to close on a marginally positive note. The overall bias improving, the levels of 17,200 to 17,250 zone need to be sustained for continuation of further upward movement."

Prabhudas Lilladher expert went on to add that Bank Nifty also opened with a gap up but thereafter witnessed some gradual profit booking to end near the 39,300 zone with and as of now the significant level of 50EMA at 38,700 would be the crucial near term support zone which need to be maintained to keep the trend intact.

"With the overall sentiment and bias maintained with a cautiously positive approach, we anticipate for further upward move in the coming days. The support for the day is seen at 17,200 while the resistance is seen at 17,450. Bank Nifty would have the weekly range of 38,800 to 39,800 levels," Vaishali Parekh of Prabhudas Lilladher said.

Buy or sell stocks for today

As mentioned above, Vaishali Parekh has recommended two day trading stocks for today. Here we list out details in regard to Vaishali Parekh's stock recommendations for today:

1] Gujarat Alkalies: Buy at 893, target 927, stop loss 878; and

2] Sharda Cropchem: Buy at 456, target 475, stop loss 448.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Asit Manohar

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