Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — February 9
2 min read . Updated: 09 Feb 2023, 08:33 AM IST
Premium- Buy or sell: Nifty closing above 17,800 levels has improved market sentiment, believes Vaishali Parekh
Buy or sell stocks for today: On account of strong global cues, most of the global markets witnessed heavy buying in early morning deals on Wednesday session. European markets climbed to nine month high whereas Dalal Street finished higher for third day in a row. 50-stock index Nifty gained 0.85 per cent and closed at 17,871, 30-stock Sensex gained 377 points and ended at 60,663 levels while Nifty Bank finished 46 points up at 41,537 mark. Mid-cap index outperformed Sensex, Nifty and Bank Nifty indices and logged around one per cent rise on Wednesday while small-cap index shot up to the tune of 0.76 per cent.
Intraday trading strategy for Thursday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty closing above 17,800 levels has improved market sentiment. Prabhudas Lilladher went on to add that mid-cap stocks are witnessing active participation whereas select frontline stocks triggered buying interest among Dalal Street bulls. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those day trading stocks are United Spirits or McDowell, Gujarat Narmada Valley Fertilizers & Chemicals or GNFC and Torrent Power.
On outlook for Nifty today, Vaishali Parekh of Prabhudas Lilladher said, "Nifty after a long wait has moved past the 17,800 zone and closed above this zone to improve the sentiment and bias to some extent with midcap stocks witnessing active participation along with select frontline heavyweights."
Prabhudas Lilladher expert went on to add that Bank Nifty was overall stagnant as compared to the Nifty index closing on a flat note near 41,500 zone and would need a decent move past the 41,800 zone to further trigger for a breakout and carry on the momentum.
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"The support for Nifty is seen at 17,750 while the resistance is seen at 18,000 levels. Bank Nifty would have the daily range of 41,100 to 42,100 levels," Parekh said.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three stocks to buy today, here we list out full details in regard to those intraday stocks for today:
1] United Spirits or McDowell: Buy at ₹791, target ₹820, stop loss ₹778;
2] GNFC: Buy at ₹539, target ₹580, stop loss ₹530; and
3] Torrent Power: Buy at ₹452, target ₹465, stop loss ₹445.
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.
