Buy or sell: Vaishali Parekh recommends 2 intraday stocks for today — Oct 14

Intraday stocks for today: Following weak global cues on uncertainties around interest rate hike, Indian stocks finished lower on Thursday. NSE Nifty lost 109 points and closed at 17,014 levels. BSE sensitive index Sensex tumbled 390 points and closed at 57,235 while Bank Nifty index dipped 494 points and closed at 38,624 levels. Among sectors, metals and healthcare rose the most while capital goods and banks fell the most. Small-cap index outperformed key benchmark indices by logging intraday gain of over 2.50 per cent even as the advance decline ratio fell to 0.51:1.

Vaishali Parekh's recommendations on intraday trading tips

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that stock market is range bound and advised traders to wait for further developments to establish some clarity and conviction about the trend. Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today and those two shares are Marico and Vedanta.

Intraday trading strategies

Speaking on day trading guide for today, Vaishali Parekh of Prabhudas Lilladher said, "Nifty witnessed another day of volatile session hovering between 17,100 and 16,960 levels with little conviction about the trend movement of the indices closing near the 17,000 zone. Bank Nifty also saw some profit booking to end near the 38,600 levels with 38,500 zone acting as the crucial support zone breaching which can witness further intensified selling pressure to drag the index further downward."

Prabhudas Lilladher expert went on to add, "Nifty overall is hovering between the range of 17,300 and 16,800 levels as said earlier and still with a cautious approach one need to wait and watch for further developments to establish some clarity and conviction about the trend. The support for the day is seen at 16,850 while the resistance would be 17,200. Bank Nifty would have the daily range of 38,000 to 39,200 levels."

Buy or sell stocks for today

On intraday stocks for today, Vaishali Parekh of Prabhudas Lilladher recommended two day trading stocks to buy today.

Here we list out details in regard to Vaishali Parekh's stock recommendations:

1] Marico: Buy at ₹515, target ₹532, stop loss ₹507; and

2] Vedanta: Buy at ₹293, target ₹305, stop loss ₹288.

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