Buy or sell: Vaishali Parekh recommends buying in 3 stocks today — 25 May
Sensex closed 208 points, or 0.34 per cent, lower at 61,773.78 while the Nifty closed at 18,285.40, down 63 points, or 0.34 per cent. While
PremiumDomestic market benchmarks the Sensex and the Nifty ended lower on May 24. with banking and financial heavyweights among the top losers amid weak global cues, lingering debt ceiling issues in the US.
Sensex closed 208 points, or 0.34 per cent, lower at 61,773.78 while the Nifty closed at 18,285.40, down 63 points, or 0.34 per cent. While Nifty Bank was down by 0.63 per cent to 43,677.85.
Day trade guide by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher for Thursday's session:
She said, Nifty levels near 18100 would be the crucial support zone while on the upper side, a decisive breach above 18400 is necessary to establish a confirmation for further fresh upward move with next targets of 18700-18850 levels.
“Nifty after opening on a positive note witnessed resistance near the important 18400 zone to cool off in the final hours shedding some gains but the overall trend is maintained positive anticipating for further gains. As said earlier, the levels near 18100 would be the crucial support zone while on the upper side, a decisive breach above 18400 is necessary to establish a confirmation for further fresh upward move with next targets of 18700-18850 levels," she said
“BankNifty has been hovering near the 44000 zone for quite some time witnessing a solid consolidation and with a decisive breach above the 44200 zone would trigger for fresh breakout anticipating for further rise in the coming days. Most of the frontline banking stocks are well placed, technically and has scope for further gains in the coming days, as we foresee a fresh upside targets of 45900-46000 levels. The support for the day is seen at 18250 levels while the resistance is seen at 18500 levels. BankNifty would have the daily range of 43600-44200 levels," she added.
Parekh recommends buying the following stocks:
Buy Eicher Motor at 3601 with a stop loss 3555 and a target price of 3700
Buy REC Ltd at 130.50 with a stop loss 128 and target price of 136
Buy Mazagon Dock Shipbuilders Ltd at 770 with a stop loss 757 and target price of 804
Nifty Spot Index
Support – 18250/18200
Resistance - 18500/18550
Bank Nifty Spot Index
Support – 43600/43550
Resistance – 44200/44250
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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