Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — March 27
3 min read 27 Mar 2023, 07:05 AM ISTBuy or sell stock: Vaishali Parekh has recommended three stocks to buy today — HAL, Aurobindao Pharma and GESHIP
PremiumBuy or sell stocks for today: In a week that was dictated by Fed's rate hike, bank crisis in US and settlement of Credit Suisse crisis, both Nifty and Sensex finished lower for third straight week in a row. 50-stock index Nifty ended 131 points lower at 16,945 levels, BSE Sensex dipped 398 points and closed at 57,527 mark whereas Nifty Bank index tumbled 221 points and ended at 39,395 levels. In broad markets, small-cap index lost 1.37 per cent whereas mid-cap index nosedived 1.25 per cent.
Intraday trading strategy for Monday
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that market bias has gone further negative after Nifty closing near 16,900 levels. Prabhudas Lilladher expert went on to add that Nifty is facing resistance at 17,100 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Hindustan Aeronautics Ltd or HAL, Great Eastern Shipping Company or GESHIP and Aurobindo Pharma.
On outlook for Nifty today, Vaishali Parekh said, "Nifty in the initial half maintained near the 17050 zone and thereafter resisting near 17100 once again slipped down to close near 16950 levels with intraday low made till 16900 zone and bias turning weak. As said earlier, the 16800 level remains the crucial and significant support zone while on the upside 17200 zone continue to be the important resistance barrier which need to be breached for the overall trend to improve."
"Bank Nifty also witnessing resistance near the 39800 zone was subjected to profit booking to slide down and end near the 39400 zone. The index has once gone below the important 200DMA level of 39740 and further ahead has the major support zone near 38700-38600 levels," Parekh added.
Parekh further said that support for the day is seen at 16800 while the resistance is seen at 17100. Bank Nifty would have the daily range of 38800-39800 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three day trading stocks to buy today, here we list out full details in regard to those shares:
1] HAL: Buy at ₹2567, target ₹2655, stop loss ₹2525;
2] GESHIP: Buy at ₹624, target ₹647, stop loss ₹615; and
3] Aurobindo Pharma: Buy at ₹500, target ₹522, stop loss ₹490.
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.
