Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — February 17
Intraday trading strategy: Nifty is facing resistance at 18,130 level, believes Vaishali Parekh of Prabhudas Lilladher
Buy or sell stocks for today: On account of strong global sentiments, Dalal Street ended in positive territory for third straight session on Thursday. 50- stock Nifty index ended 20 points higher at 18,035, 30-stock BSE Sensex went up 44 points and closed at 61,319 levels. But, Bank Nifty index continue to remain under sell off pressure on higher levels. Nifty Bank index ended 99 points lower at 41,631 levels on Thursday. Broad market indices outperformed key benchmark indices as they surged around one per cent each.
Intraday trading strategy for Friday
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Nifty is facing resistance at 18,130 levels. Prabhudas Lilladher expert said that 41,800 to 41,900 is working is strong barrier zone for Bank Nifty index. However, Vaishali Parekh said that market sentiments are still intact as small-cap and mid-cap stocks are actively participating in current markets and have outperformed key benchmark indices as well. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today. Those day trading stocks are Piramal Pharma (PPL Pharma), Jindal Steel and Coforge.
On outlook for Nifty today, Vaishali Parekh said, "Nifty after a positive opening witnessed resistance near the 18,130 zone and gradually slipped as the day progressed to end on a flat note maintaining just above the 18,000 levels."
Prabhudas Lilladher expert went on to add that Bank Nifty had almost touched the 42,000 mark but witnessing resistance came down with profit booking seen to the session in the negative losing 100 points, once again proving the 41800-41,900 as a crucial and significant barrier zone.
"There was active participation seen from the midcap and small-cap stocks which improved the market breadth of the session. The support for the day is seen at 17,900 while the resistance is seen at 18200. Bank Nifty would have the daily range of 41,200-42,000 levels," Parekh added.
Stocks to buy today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended three stocks for intraday trading, here we list out full details in regard to those shares:
1] Piramal Pharma: Buy at ₹91.40, target ₹97, stop loss ₹89;
2] Jindal Steel: Buy at ₹601, target ₹636, stop loss ₹588; and
3] Coforge: Buy at ₹4229, target ₹4420, stop loss ₹4160.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!