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Buy or sell stocks for today: Despite weakness on Wall Street, Indian stock market continued to attract buying interest on Tuesday session. Nifty 50 index went up 55 points and closed at 18,618 while 30-stock index BSE Sensex gained 177 points and closed at 62,681 levels. Bank Nifty index finished 33 points higher at 43,053 mark. Broad markets, however, underperformed as buying action was limited to the top 100 odd scrips.

Intraday trading strategy for Wednesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that trend of all periodicities are up and expected the key benchmark indices to scale fresh high in upcoming trade sessions. On intraday stocks for today, Prabhudas Lilladher expert recommended two stocks to buy today and those two stocks are Britannia Industries and Deepak Nitrite.

On day trading guide for today, Vaishali Parekh of Prabhudas Lilladher said, "Nifty made fresh new high of 18,678 and is on its way to scale the psychological figure of 19,000 level with bias and sentiment maintained positive with FMCG counter beginning to get strong and anticipating for further upward move in the coming days. Bank Nifty overall remained sluggish once again witnessing a range-bound move since the past 3-4 sessions maintaining the support zone of 42,700 levels with upside potential still maintained intact."

"With the trend of all periodicities remaining up, we anticipate the indices to make fresh highs with further rise well supported by the frontline stocks which would carry the index to new levels. The support for Nifty 50 index for the day is seen at 18,500 while the resistance is seen at 18,750. Bank Nifty would have the daily range of 42600-43600 levels," said Parekh.

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 day trading stocks for today:

1] Britannia Industries: Buy at 4285, target 4400, stop loss 4220; and

2] Deepak Nitrite: Buy at 2168, target 2240, stop loss 2130.

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

ABOUT THE AUTHOR

Asit Manohar

Chief Content Producer at Live Mint Digital Team
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