Home / Markets / Stock Markets /  Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Sept 29

Buy or sell stocks for today: On account of rising dollar index and weak global cues, Indian stock market closed in red zone on sixth successive day in a row. NSE Nifty ended 148 points lower at 16,858, BSE Sensex dipped 509 points and closed at 56,598 while Nifty Bank index finished 599 points south at 37,759 levels. Among sectors, metals, banks and power fell the most while healthcare, IT and auto indices rose the most.

Vaishali Parekh's stock recommendations

According to Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that key benchmark indices need to stabilize and consolidate to witness some conviction and clarity for an upward movement and till then the bias would be maintained with a cautious approach. Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today — Infosys and Zydus Life.

Day trading strategies

On day trading guide in regard to Nifty today, Vaishali Parekh said, "Nifty struggled once again to maintain above the 17000 zone as was obvious with the weak bias and sentiment and slipped post the lunch session to close near 16,800 levels."

The Prabhudas Lilladher analyst went on to add that Bank Nifty also tried to scale above the 38300 zone but failed to sustain and slipped to touch day’s low of 37,626 levels. The indices need to stabilize and consolidate to witness some conviction and clarity for an upward movement and till then the bias would be maintained with a cautious approach. However, the support for the day is seen at 56,000 for Bank Nifty and 16,650 for Nifty 50 index while the resistance for these indices are seen at 57,100 and 17,050 respectively. Bank Nifty would have the daily range of 37,100 to 38,350 levels.

Vaishali Parekh's shares to buy today

As mentioned earlier, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today and those two stocks are Infosys and Zydus Life.

Here we list out full details in regard to these buy or sell stocks for today:

1] Infosys: Buy at 1395, target 1650, stop loss 1300; and

2] Zydus Life: Buy at 369, target 420, stop loss 338.

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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