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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — 30th May

Buy or sell stocks for today: Following strong global cues on optimism in regard to US debt ceiling talks, Indian stock market closed higher on third day in a row on Monday. NSE Nifty gained 99 points and closed at 18,598 whereas BSE Sensex shot up 344 points and finished at 62,846 levels. Bank Nifty index hit a new life-time high of 44,483 but finally ended 293 points up at 44,311 mark. Broad market indices rose less than the Nifty even as the advance decline ratio remained firm at 1.26:1.

Intraday trading strategy for stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall trend for Indian stock market today is positive. Prabhudas Lilladher expert went on to add that Nifty is poised for further upside movement and it may go up to 18,900 levels in near term. Asked about stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those three day trading stocks are Voltas, IRCTC and Jindal Steel.

On outlook for Nifty today, Vaishali Parekh said, "Nifty has witnessed a strong gap up opening near 18,600 zone and thereafter remained rangebound for rest part of the session with positive bias maintained and expecting for further upward move. We anticipate the index to attain the next targets of 18,800 to 18,900 zone with most of the frontline stocks like RIL, ITC, HDFC Bank, M&M and SBI looking good for further gains in the coming days."

"Bank Nifty made all time new high with a gap up opening above the previous peak of 44,150 levels and has entered a new territory with strong bias indicated and is anticipated to carry on the positive move for next targets of 45,900 to 46,000 levels," said Parekh.

Parekh went on to add that support for NSE Nifty is placed at 18,450 levels while the resistance is seen at 18,750 levels. Bank Nifty would have the daily range of 44000-44800 levels.

Stocks to buy today

As mentioned above, Vaishali Parekh has recommended three day trading stocks for today, here we list out full details in regard to those intraday stocks to buy today:

1] Voltas: Buy at 825, target 860, stop loss 812;

2] IRCTC: Buy at 645, target 672, stop loss 634; and

3] Jindal Steel: Buy at 531, target 552, stop loss 523.

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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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Updated: 30 May 2023, 06:30 AM IST
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