Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends buying in 3 stocks today - 26 May
BackBack

Buy or sell: Vaishali Parekh recommends buying in 3 stocks today - 26 May

The positive close has further enhanced the probability of a crucial breakthrough above the barrier of 18,400 zone which can confirm for a directional move ahead for the next targets of 18,800-18,900 levels, according to Parekh

Day trading stocks: Trading with a stock specific approach and a proper risk management should ideally be the trading strategy in such scenario, believe analysts. (iStock)Premium
Day trading stocks: Trading with a stock specific approach and a proper risk management should ideally be the trading strategy in such scenario, believe analysts. (iStock)

Domestic equity benchmarks the Sensex and the Nifty ended in positive territory supported by fag-end buying on May 25- the expiry day of the May futures and options (F&O) series even as global cues were weak due to the dragging debt ceiling negotiations in the US. 

Sensex remained in the negative territory for the most part of the day, falling about 289 points to an intraday low of 61,484.66. But the index saw fag-end buying and finally closed 99 points, or 0.16 per cent, higher at 61,872.62 while the Nifty ended at 18,321.15, up 36 points, or 0.20 per cent.

In broader markets, mid and small-caps outperformed the benchmark; the BSE Midcap and Smallcap indices rose 0.36 per cent and 0.27 per cent respectively. Largecaps ITC, Bajaj Auto, TVS Motor Company, Godrej Consumer Products, Indian Hotels Company and Britannia Industries, were among the 140 stocks that hit their 52-week highs in intraday trade on BSE.

On Thursday, companies such as Zee Entertainment Enterprises, Vodafone Idea, Mrs Bectors Foods Specialities, Bharat Dynamics, Emami, Healthcare Global, Medplus Health, among others declared their Q4FY23 results.

Also Read: FIIs continue 5-day buying streak pump in 589 Cr Indian equities on 25th May, DIIs buy 339 Cr

Day trade guide by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher for Friday's session:

She said that after witnessing a gradual slide in the initial half to touch the 18,200 zone, Nifty pulled back quite significantly in the final hours to breach and close above the 18,300 levels with sentiment much improved.

The positive close has further enhanced the probability of a crucial breakthrough above the barrier of the 18,400 zone which can confirm a directional move ahead for the next targets of 18,800-18,900 levels, according to Parekh

‘’BankNifty after taking support near 43,400 zone picked up well to end marginally in the green and need to check further whether it can give a breakout above 44,200 zone for a fresh upside journey. The support for the day is seen at 18,200 levels while the resistance is seen at 18,450 levels. BankNifty would have the daily range of 43,400-44,100 levels,'' she added. 

Parekh recommends buying the following stocks:

Buy JBM Auto at 792 with a stop loss of 780 and a target price of 817
Buy ITC Ltd at 441 with a stop loss of 434 and a target price of 455
Buy Power Finance Corporation (PFC) at 170 with a stop loss of 167 and a target price of 177

Nifty Spot Index

Support – 18200/18150

Resistance - 18450/18500

Bank Nifty Spot Index

Support – 43400/43350

Resistance – 44100/44150

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 26 May 2023, 06:05 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App