Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Sept 12
- Stocks to buy or sell today: Nifty has improved the bias overall but witnessed some resistance near 17,900 zone, believes Vaishali Parekh of Prabhudas Lilladher
Stocks to buy or sell today: Despite hawkish stance shown by the US Fed and European Central Bank officials in the week gone by, Indian stock market continued its rally on second straight session on Friday. Key benchmark indices Nifty 50, Bank Nifty and Sensex ended in green territory whereas broader index small-cap and mid-cap too ascended on the weekend session. However, declining shares outnumbered the advancing shares on Friday where advance decline ratio stood at 0.96 on BSE. Hence, stock market experts are advising day traders to maintain 'stock specific' approach and avoid taking any long position till Nifty sustains below 18,000 resistance.
Vaishali Parekh recommendations
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher also believes that Nifty is facing resistance at 17,900 levels and she has also advised day traders to keep an eye on these pivot levels on NSE Nifty. For traders who maintain stock specific trade, Vaishali Parekh of Prabhudas Lilladher advised two stocks to buy today and those two stocks are Persistent Systems and IGL.
On Nifty 50 technical outlook, Vaishali Parekh said, "Nifty has improved the bias overall but witnessed some resistance near 17,900 zone and would need to move past this level decisively and also the psychological level of 18,000 to establish a directional trend for further upside move."
On Prabhudas Lilladher recommendations to intraday traders, Vaishali Parekh said, "Bank Nifty has been moving strongly but as of now witnessed a halt near 40,650 zone with overall trend remaining positive. IT stocks, some of the banking stocks along with PSU banks and Auto stocks have shown improvement in the bias to help the index to gain further. However, the support for the day is seen at 59,400/17,700 while the resistance is seen at 59,900/18,000. Bank Nifty would have the daily range of 40,000 to 41,000 levels."
Vaishali Parekh's shares to buy today
Unveiling her stock picks for Monday, Vaishali Parekh of Prabhudas Lilladher recommended two stocks — Persistent Systems and IGL — to buy today.
Vaishali Parekh recommendations: Here we list out full details —
1] Persistent Systems: Buy at ₹3393, target ₹3530, stop loss ₹3310
2] IGL: Buy at ₹418, target ₹435, stop loss ₹410.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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