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Buy or sell stocks for today: Following positive global cues after dollar index nosediving to three-month low after Fed Chairman’s statement on possibility of smaller interest rate hikes going ahead, Dalal Street ended green on eights straight session. Nifty 50 index gained 54 points and closed at 18,812, BSE Sensex surged 184 points and ended at 63,284 whereas Bank Nifty index finished 29 points higher at 43,260 levels. However, small-cap and mid-cap indices outperformed key benchmark indices and logged 0.63 per cent and 0.62 per cent gains respectively on Thursday.

Day trading strategy for stock market today

Unveiling day trading guide for traders, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said that Indian stock market witnessed new highs for 3rd consecutive session now and it still looks well poised to continue the uptrend. Prabhudas Lilladher experts went on to add that IT, metals and PSU bank stocks are going strong and these sectors may continue the upside movement in upcoming sessions as well.

On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended two intraday stocks for today and those two day trading stocks are Piramal Enterprises and SBI Cards.

Unveiling intraday trading tips for Friday session, Vaishali Parekh said, "Nifty takes a breather near the 18,900 zone and witnessed a flat session with some volatility being the F&O weekly expiry closing just above the 18,800 levels with bias and sentiment maintained strong anticipating for further upward move. Bank Nifty once again witnessed a flat session overall moving within a range."

IT, metal, PSU bank stocks in focus

Prabhudas Lilladher analyst went on to add that sectorwise IT, Realty, Metals and PSU Banks are going strong and can continue with the positive momentum further ahead in the coming days. Parekh said that support for NSE Nifty is placed at 18,650 while the resistance is seen at 18,950 levels. Bank Nifty would have the daily range of 42800-43800 levels.

Intraday stocks for today

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

1] Piramal Enterprises: Buy at 863, target 8885, stop loss 850; and

2] SBI Cards: Buy at 834, target 860, stop loss 820.

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.

ABOUT THE AUTHOR

Asit Manohar

Chief Content Producer at Live Mint Digital Team
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