Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — February 2
1 min read . Updated: 02 Feb 2023, 08:04 AM IST
Premium- Buy or sell stock: Vaishali Parekh of Prabhudas Lilladher believes that overall market sentiment is still volatile and precariously placed
Buy or sell stocks for today: After showing gradual upside bounce in the last couple of sessions, the Dalal Street witnessed extreme volatility by moving into large intraday swing highs and lows on the day of Union Budget 2023 on Wednesday and finally settled losing its mid-session gains. Nifty closed in red zone losing 45 points on Wednesday whereas BSE Sensex finished in green territory and logged 158 points intraday gain. However, Bank Nifty index lost 142 points and finished at 40,513 levels. In broad markets, small-cap index dipped 1.10 per cent while mid-cap index lost to the tune of 1 per cent.
Intraday trading strategy for Thursday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall market sentiment is still volatile and precariously placed. Prabhudas Lilladher expert advised traders to avoid taking any aggressive position till clear picture gets in place. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those day trading stocks are ICICI Bank, L&T and SBI Card.
"Nifty witnessed a highly volatile session as expected with the movement ranging from 17950 to 17350 levels and finally closing with a marginal negative points. Bank Nifty also witnessing huge fluctuations swinging from 42000 zone to 39500 levels and ending the session almost on a flat note witnessing a decent recovery," said Parekh.
Prabhudas Lilladher went on to add that overall bias and sentiment still remains precariously placed and it is advisable to get a clear conviction and clarity established before entering into aggressive trading.
"The support for the day is seen at 17,450 while the resistance is seen at 17,750 levels. Bank Nifty would have the daily range of 40,000 to 41,200 levels," She said.
Stocks to buy today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended three day trading stocks to buy today, here we list out full details in regard to those intraday stocks:
1] ICICI Bank: Buy at ₹847, target ₹880, stop loss ₹830;
2] L&T: Buy at ₹2145, target ₹2220, stop loss ₹2115; and
3] SBI Card: Buy at ₹739, target ₹767, stop loss ₹728.
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.
