Buy or sell: Vaishali Parekh recommends three stocks to buy today — 14th July
Buy or sell stock: Vaishali Parekh has recommended three stocks to buy today — Kaveri Seed Company, Mahindra Holidays and Resorts and NATCO Pharma
Buy or sell stocks for today: Following strong global cues from US stock market, Indian stock market finished higher on Thursday session. NSE Nifty ended 29 points higher at 19,413 while BSE Sensex gained 164 points and closed at 65,558 levels. Bank Nifty finished 25 points higher at 44,665 levels. However, broad market witnessed heavy sell off as small-cap index corrected 0.54 per cent while mid-cap index lost 0.64 per cent on the previous session.
Intraday trading strategy for Friday
Vaishali Parekh, Vice President — Research at Prabhudas Lilladher believes that overall trend on Dalal Street is still positive. Prabhudas Lilladher expert went on to add that Nifty today has strong support at 19,300 while it is facing resistance at 19,550 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Kaveri Seed Company Ltd (KSCL), Mahindra Holidays and Resorts India Ltd (MHRIL) and NATCO Pharma.
On outlook for Nifty today, Vaishali Parekh said, "Nifty hit the All-Time High during the intraday session but thereafter witnessed heavy profit booking to slip down to touch the 19,400 zone with heavyweights shedding their gains. The strong trend still remains intact with the near-term support maintained near 19,300 levels as said earlier and a decisive breach above 19,550 zone need to be sustained for continuation of fresh upward move. The broader markets witnessed heavy profit booking with a big red candle to make the scenario little bit cautious."
"Bank Nifty witnessed a decent pullback in the initial hours but fizzled out in the second half to erode the gains and close on a flat note. The 44,500 levels still as an important support zone breaching which the trend can turn weak overall," said Parekh.
Parekh went on to add that immediate support for Nifty today is placed at 19,300 while its resistance is placed at 19,550 levels. Bank Nifty would have the daily range of 44,400 to 45,000 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three intraday stocks for today, here we list out important details in regard to those day trading stocks:
1] KSCL: Buy at ₹570, target ₹595, stop loss ₹562;
2] MHRIL: Buy at ₹319, target ₹332, stop loss ₹315; and
3] NATCO Pharma: Buy at ₹681, target ₹707, stop loss ₹672.
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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