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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — December 30
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Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — December 30

Buy or sell stock: Support for NSE Nifty is seen at 18,050 while the resistance is seen at 18,350 levels, believes Vaishali Parekh of Prabhudas Lilladher

Stock market today: Bank Nifty would have the daily range of 42,800 to 43,700 levels, says Vaishali Parekh. (iStock)Premium
Stock market today: Bank Nifty would have the daily range of 42,800 to 43,700 levels, says Vaishali Parekh. (iStock)

Buy or sell stocks for today: Last hour trades for F&O monthly expiry squaring off/rollover and Nifty index weight rejig trades helped Indian stock market to recover from its morning losses. 50-stock index Nifty closed 68 points higher at 18,191. BSE Sensex surged 223 points and closed at 61,133 whereas Bank Nifty index gained 424 points and closed at 43,252 levels. Broad market indices rose less than key benchmark indices as focus was on large-cap stocks.

Intraday trading strategy for Friday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall bias of the secondary market is maintained with a cautiously positive approach till further clarity. Prabhudas Lilladher expert maintained that support for NSE Nifty is maintained at 18,050 levels whereas the 50-stock index is facing resistance at 18,350 levels. On stocks to buy today Vaishali Parekh of Prabhudas Lilladher recommended two intraday stocks for today and those two shares are GMR Infra and Pidilite Industries.

Speaking on intraday trading strategy, Vaishali Parekh said, "Nifty opened on the lower end near 18050 zone on a negative note and maintained the crucial support zone of 18,000 levels in the first half of the trading session and gathered momentum in the later half to race to 18,200 levels on the expiry day of the F&O segment. Bank Nifty also remained stagnant near the 42,500 zone in the morning session and thereafter picked up momentum to touch 43,350 zone post lunch session to close on a positive note."

Parekh went on to add that overall bias and sentiment is maintained with a cautiously positive approach till further clarity and conviction is established. She said that support for NSE Nifty is seen at 18,050 while the resistance is seen at 18,350 levels. Bank Nifty would have the daily range of 42,800 to 43,700 levels.

Vaishali Parekh's stocks to buy today

As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended 2 stocks to buy today, here we list out full details in regard to those two shares:

1] GMR Infra: Buy at 39.40, target 44, stop loss 38; and

2] Pidilite Industries: Buy at 2601, target 2720, stop loss 2565.

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.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 30 Dec 2022, 08:22 AM IST
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