Home / Markets / Stock Markets /  Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — October 6

Buy or sell stocks for today: Following strong global signals, Dalal Street witnessed strong upside on Tuesday session. Nifty 50 index finished 386 points higher at 17,274 levels, recording its best session in last 5 weeks. BSE Sensex ended 1276 points higher at 58,065 levels while Nifty Bank index gained 1080 points and closed at 58,065 levels. Among sectors, metals, power, IT, banks, capital goods and realty were the main gainers.

Vaishali Parekh's recommendations

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Nifty and Bank Nifty have breached crucial hurdles and it may give strong recovery if the indices manage to sustain its gains on Thursday session. Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today and those two stocks are Torrent Power and L&T Finance.

Day trading strategy for stock market today

Speaking on Nifty technical outlook, Vaishali Parekh said, "Nifty once again with a huge gap up opening near 17,150 zone wiped out all the negative sentiments and decisively breached the crucial zone of 17,200 levels, which need to be sustained in the coming sessions."

Prabhudas Lilladher expert went on to add that Bank Nifty also witnessed a U-turn and crossed the 39,000 zone decisively to established a strong recovery and improving the bias and sentiment, further upward rise is anticipated for targets of 40,200 to 40,500 levels provided the 38,700 zone is maintained in the coming session. The intraday support for NSE Nifty is placed at 17,150 while the resistance is seen at 17400 levels. Bank Nifty would have the weekly range of 38,700 to 39,700 levels, Bank Nifty also witnessed a U-turn and crossed the 39000 zone decisively to established a strong recovery and improving the bias and sentiment, further upward rise is anticipated for targets of 40200-40500 levels provided the 38700 zone is maintained in the coming session. The support for the day is seen at 17150 while the resistance is seen at 17400. Bank Nifty would have the weekly range of 38700-39700 levels, Vaishali Parekh of Prabhudas Lilladher believes.

Buy or sell stocks for today

Asked about day trading stocks for today, Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today. Here we list out details in regard to her recommendations:

1] Torrent Power: Buy at 502, target 535, stop loss 490; and

2] L&T Finance: Buy at 77, target 81, stop loss 75.

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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