Home / Markets / Stock Markets /  Buy or sell: Vaishali Parekh of Prabhudas Lilladher recommends 2 stocks to buy today — December 1

Buy or sell stocks for today: Following positive sentiments across Asian markets, Indian stocks finished higher on Wednesday. 50-stock index Nifty ended 140 pints higher at 18,758 whereas BSE Sensex shot up 417 points and closed at 63,099 levels. Bank Nifty index went up 177 points and finished at 43,231 mark. MSCI rebalancing trades and basket buying by FPIs in the last half hour pushed up indices towards the end of the session. Midcap index outperformed the Nifty even as the advance decline ratio surged to 1.73:1.

Intraday trading strategy on Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall market sentiment and bias is maintained strong. Prabhudas Lilladher expert maintained that mid-cap index has started to participate in the ongoing rally, which is good sign for the markets and expected further upside movement when the market opens today. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended two shares to buy today and those two shares are Zee Entertainment and UltraTech Cement.

"Nifty extended the gains still further making new highs once again and is marching towards the psychological figure of 19000 level with strength indicated and anticipating for further upward move in the coming days," Parekh said.

ICICI Bank, Kotak Mahindra Bank, HDFC Bank in focus

"Bank Nifty overall has been moving within a range but has maintained the strong support of 42700 zone as said earlier and has further upside potential with most of the frontline banking stocks like ICICI Bank, Axis Bank, HDFC Bank and Kotak Bank looking good," Vaishali Parekh of Prabhudas Lilladher said.

"With participation witnessed from midcap as well, the overall sentiment and bias is maintained strong thereby anticipating for further gains in the near future. The support for the day is seen at 18650 while the resistance is seen at 18900. Bank Nifty would have the daily range of 42800-43800 levels," Parekh added.

Intraday stocks for today

As mentioned above, Vaishali Parekh has recommended two stocks to buy. Here we list out important details in this regard to those day trading stocks:

1] Zee Entertainment: Buy at 264, target 275, stop loss 260; and

2] UltraTech Cement: Buy at 7077, target 7220, stop loss 6980.

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.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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