BackBuy or sell: Vaishali Parekh recommends three stocks to buy today — 3rd July
Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Bandhan Bank, Hero MotoCorp and Zensar Tech
PremiumBuy or sell stocks for today: In the week gone by, Indian stock market climbed to record high as all three key benchmark indices — Sensex, Nifty and Bank Nifty — hit a new high on Friday. In broad market, small-cap and mid-cap continue too scale a new high that reflects participatory rally on Dalal Street. After the end of Friday session last week, we also witnessed the end of first six months of the current year 2023 and in the last six months, Nifty climbed 5.83 per cent whereas Sensex sur4ged to the tune of 6.32 per cent.
Intraday trading strategy for Monday
As SGX Nifty is now going to trade as Gift Nifty from today, Vaishali Parekh believes that NSE Nifty has strong support zone placed at 19,000 levels whereas next rally will take the 50-stock index to 19,600 to 19,700 levels. Prabhudas Lilladher expert went on to add that Bank Nifty index has breached crucial barrier placed at 44,500 levels and it may now go up to 46,000 levels in near term. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Bandhan Bank, Hero MotoCorp and Zensar Tech.
On outlook for Nifty today, Vaishali Parekh said, "Nifty witnessed a spectacular day to touch 19,200 levels during the intraday session with most of the major frontline stocks participating and produced the highest weekly gain of the year from the lowest level near 18,650 to 19200 zone. The 19,000 zone would now remain as the crucial support level while next upside fresh targets would be expected at around 19,600 to 19,700 zone."
"Bank Nifty also finally moved past the crucial resistance barrier of 44,500 zone to give a strong closing near 44,750 levels with major frontline banking stocks showing strength and has started picking up with improving bias. As said earlier, the index would have the next upside targets of 45,900-46,000 levels and 44,000 zone would remain as the important near-term support zone," said Parekh.
Parekh went on to add that Nifty today has support placed at 19,100 levels while the resistance is seen at 19,350 levels. Bank Nifty would have the daily range of 44,400-45,200 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] Bandhan Bank: Buy at ₹242, target ₹255, stop loss ₹238;
2] Hero MotoCorp: Buy at ₹2910, target ₹3020, stop loss ₹2865; and
3] Zensar Tech: Buy at ₹387, target ₹404, stop loss ₹380.
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.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
