Home / Markets / Stock Markets /  Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Sept 30

Buy or sell stocks for today: On account of weak global sentiments and slowdown concern, Dalal Street extended its losing spree on seventh straight session on Thursday. NSE Nifty corrected 40 points and closed at 16,818, Sensex shed 188 points and finished at 56,409 while Nifty Bank index went off 112 points and closed at 37,647 levels. Among sectors metals, healthcare and FMCG gained the most while power, IT and banks fell the most. However, mid-cap and small-cap indices gained 0.31 per cent and 0.63 per cent respectively.

Vaishali Parekh's recommendations

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that negative bias still persisting on Dalal Street. On stocks to buy buy or sell stocks for today, Vaishali Parekh of Prabhudas Lilladher advised traders to maintain 'cautious approach' and recommended two stocks to buy today — Apollo Hospitals and Godrej Consumer Products.

Day trading strategies

Speaking on Nifty technical outlook, Vaishali Parekh said, "Nifty after opening on a positive note near 17000 zone eroded the gains as the day progressed and slipped into the red losing 40 points to end near the 16800 zone with bias remaining weak and sentiment also maintained with a cautious approach with the significant 200DMA level of 17000 decisively broken."

The Prabhudas Lilladher expert went on to add that Bank Nifty also opened on a positive note near 39100 zone but lost steam and wiped out the gains to end near the day’s low at around 37650 levels with all eyes awaiting the RBI policy outcome which would decide the further directional movement of the index. As said earlier, 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 16650 while the resistance is seen at 16950. Bank Nifty would have the daily range of 37200-38200 levels.

Buy or sell stocks for today

As mentioned earlier, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today and those two stocks are Apollo Hospitals and Godrej Consumer Products.

Here we list out full details below:

1] Apollo Hospitals: Buy at 4390, target 4530, stop loss 4330; and

2] Godrej Consumer Products: Buy at 907, target 957, stop loss 885.

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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