Buy or sell: Vaishali Parekh recommends three stocks to buy today — 31st May
Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Kansai Nerolac, Mazagon Dock and Sula Vineyards
PremiumBuy or sell stocks for today: Amid muted global sentiments as investors wait for the US debt ceiling deal, Indian stock market finished higher for fourth straight session on Tuesday. NSE Nifty ended 35 points higher at 18,633 mark, which is its highest close since 14th December 2022. BSE Sensex gained 122 points and closed at 62,969 while Bank Nifty index shot up 124 points and closed at 44,436 levels.
Intraday trading strategy for stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty is facing consolidation around 18,650 levels. Prabhudas Lilladher maintained that overall stock market sentiment is still positive. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks for today are Kansai Nerolac, Mazagon Dock and Sula Vineyards.
On outlook for Nifty today, Vaishali Parekh said, "Nifty witnessed some consolidation near the 18650 zone during the intraday session and closed marginally in the green above 18600 with overall bias maintained positive and expecting to carry on the momentum still further ahead. With the near-term support maintained near 18570 zone, we anticipate the index to achieve the next targets of 18800-18900 zone in the coming days with some of the heavyweights’ stocks like ITC, Kotak Bank, Infosys, Bajaj Finance, ICICI Bank and RIL which are all placed well to carry the index to new heights."
"Bank Nifty continue to make new highs and with the positive bias remaining intact and near-term support maintained near 43400 zone, we anticipate further rise from the Banking stocks to carry the index for next targets of 45900-46000 levels," said Parekh.
Parekh went on to add that support for the day is seen at 18500 levels while the resistance is seen at 18800 levels. Bank Nifty would have the daily range of 44100-44800 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:
1] Kansai Nerolac: Buy at ₹425, target ₹442, stop loss ₹418;
2] Mazagon Dock: Buy at ₹799, target ₹832, stop loss ₹788; and
3] Sula Vineyards: Buy at ₹418, target ₹434, stop loss ₹411.
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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