Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — March 28
2 min read 28 Mar 2023, 07:16 AM ISTStock market today: Nifty is trading in tight 16,800 to 17,200 range, believes Vaishali Parekh of Prabhudas Lilladher
PremiumBuy or sell stocks for today: After logging losses for two successive days, Dalal Street finished higher on Monday. 50-stock index Nifty gained 40 points and closed at 16,985 levels, 30-stock index Sensex surged 126 points and closed at 57,653 mark whereas Bank Nifty index appreciated 35 points and ended at 39,431 levels. In broad markets, mid-cap index went off 0.37 per cent while small-cap index crashed 1.50 per cent.
Intraday trading strategy
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty is trading in tight 16,800 to 17,200 range and bullish or bearish trend can be assumed on breakage of either side of this range. Prabhudas Lilladher expert said that overall bias is cautious as Bank Nifty is also struggling to break through the tough resistance seen near the 39,700 level. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are PFC, GAIL and Godrej Consumer Products.
On outlook for Nifty today, Vaishali Parekh of Prabhudas Lilladher said, "As previously stated, the Nifty has been stuck between the tight range of 16,800 and 17,200 for quite some time and would desperately need a decisive breach on either side to see a directional move in the coming days to confirm the trend."
"Bank Nifty is also struggling to break through the tough resistance seen near the 39,700 level, where the 200 DMA lies, with the downside near 38,800 acting as an important support for the near-term time frame. The overall bias remains cautiously maintained until further clarity is established," said Parekh.
Parekh further added that intraday support for Sensex and Nifty is placed at 57,000/16,850, while the resistance is at 58200/17150. The Bank Nifty would have a daily range of 38,800–40,100.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three intraday stocks for today, here we list out full details in regard to those day trading stocks:
1] Power Finance Corporation or PFC: Buy at ₹149, target ₹156, stop loss ₹145;
2] GAIL: Buy at ₹104, target ₹110, stop loss ₹100; and
3] Godrej Consumer Products: Buy at ₹961, target ₹1000, stop loss ₹940.
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.
