Buy or sell: Vaishali Parekh recommends three stocks to buy today — 29th May
2 min read 29 May 2023, 06:35 AM ISTBuy or sell stocks: Vaishali Parekh of Prabhudas Lilladher has recommended three stocks to buy today — Coromandel International, Eicher Motors and Titan Company
PremiumBuy or sell stocks for today: Despite mixed global cues, Indian stock market closed higher for second straight session on Friday. NSE Nifty gained 178 points and closed to 5-month high of 18,499 levels whereas BSE Sensex surged 629 points and closed at 62,501 mark. Nifty Bank index shot up 336 points and ended at 44,018 levels. In broad market, small-cap index surged to the tune of near 0.50 per cent whereas mid-cap index gained 0.82 per cent.
Intraday trading strategy for stock market today
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Nifty 50 index has breached the crucial barrier of 18,400 that has further strengthened the market trend. Prabhudas Lilladher expert predicted that Nifty is poised to go further upside towards 18,800 to 18,900 levels in near term. On intraday stocks for today, Vaishali Parekh recommended three day trading stocks to buy today and those three intraday shares are Coromandel International, Eicher Motors and Titan Company.
On outlook for Nifty today, Vaishali Parekh said, "Nifty has witnessed a strong recovery from 18,200 zone with bias turning positive and with a breach above the crucial barrier of 18,400 zone has strengthened the overall trend anticipating for further rise in the coming days. As said earlier, the near-term upside targets of 18,800 to 18,900 levels are open now with most of the frontline stocks well placed and indicating improvement in the bias."
"Bank Nifty also surged ahead to end up above the 44,000 zone to indicate positive bias and sentiment anticipating for a decisive breach above the previous peak zone of 44,150 levels and opening the gate for next targets of 46,000 to 46,400 levels," said Parekh.
Parekh went on to add that support for the day is seen at 18350 levels while the resistance is seen at 18,650 levels. Bank Nifty would have the daily range of 43700-44500 levels.
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] Coromandel International: Buy at ₹937, target ₹970, stop loss ₹922;
2] Titan Company: Buy at ₹2742, target ₹2830, stop loss ₹2700; and
3] Eicher Motors: Buy at ₹3690, target ₹3790, stop loss ₹3640.
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.
