Home / Markets / Stock Markets /  Buy or sell: Vaishali Parekh of Prabhudas Lilladher recommends 2 stocks to buy today — 16th November

Buy or sell stocks today: Following strong global cues after China and US dropping a hint to strengthen their diplomatic ties, Dalal Street ended higher on Tuesday session. 50-stock index Nifty ended 74 points higher at 17,403, BSE Sensex gained 248 points and finished at 61,872 levels while Nifty Bank index went up 295 points and closed at 42,372 mark. Broad market indices closed almost flat, underperforming the Nifty even as the advance decline ratio ended positive at 1.01:1.

Day trading guide for stock market today

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Indian stock market ended on Tuesday with much improved bias and further rise is anticipated to retest the previous peak. Vaishali Parekh of Prabhudas Lilladher went on to add that overall bias and sentiment have much improved with IT stocks giving signs of immense upside potential. On stocks to buy today, Prabhudas Lilladher expert recommended two stocks to buy today and those two stocks are IGL and Apollo Hospitals.

On intraday trading strategies for Wednesday, Vaishali Parekh said, "Nifty for most part of the session remained rangebound near the 18350 zone and in the final hours indicated some strong upside thrust to close on a strong note near 18400 levels with much improved bias and further rise is anticipated to retest the previous peak zone of 18600 levels. Bank Nifty also hovered near 42200 zone till the last hours where after witnessed a decent gain to carry the index to 42450 level anticipating for a positive opening in the next session."

"The overall bias and sentiment have much improved with IT stocks looking good having immense upside potential and also some of the heavyweight banking stocks have picked up well to take the index further upward. The support for the day is seen at 18300 while the resistance is seen at 18550. Bank Nifty would have the daily range of 41900-43000 levels," Parekh said.

Intraday stocks for today

As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two day trading stocks to buy today. Here we list out full details in regard to those shares:

1] IGL: Buy at 433, target 450, stop loss 425; and

2] Apollo Hospitals: Buy at 4611, target 4720, stop loss 4540.

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


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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