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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — 5th June

Buy or sell: Vaishali Parekh recommends three stocks to buy today — 5th June

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Laurus Labs, Mazagon Dock, Jindal Steel

Stock market today: Nifty needs to breach above the 18600-18650 zone for fresh upward move, says Vaishali Parekh.Premium
Stock market today: Nifty needs to breach above the 18600-18650 zone for fresh upward move, says Vaishali Parekh.

Buy or sell stocks for today: Following strong global market sentiments, Indian stock market finished marginally higher on Friday. NSE Nifty added 46 points and ended at 18,534 levels, BSE Sensex gained 118 points and closed at 62,547 mark whereas Bank Nifty index went up 147 points and ended at 43,937 levels. Broad market indices gained more than the Nifty once again even as the advance decline ratio remained firm at 1.82:1.

Intraday trading guide for Monday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has managed to sustain above its near term support placed at 18,470 levels. Prabhudas Lilladher expert went on to add that any decisive breach above 18,600 to 18,650 mark would mean fresh upward movement on Dalal Street. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Laurus Labs. Mazagon Dock and Jindal Steel.

On outlook for Nifty today, Vaishali Parekh said, "Nifty amid some volatile session closed in the green above 18,500 level with near-term support visible and maintained near 18,470 zone. Auto stocks continue to show strength and with Metals also beginning to indicate improvement in the bias has much upside potential in the coming days. As said earlier, the index needs to breach above the 18,600 to 18,650 zone for fresh upward move."

"Bank Nifty has maintained the support zone near 43700-43800 levels witnessing some pullback with most of the frontline banking stocks had a lack lustre session. The index has the important barrier near 44500 zone which need to be breached decisively for further fresh upside move," Parekh said.

Parekh went on to add that support for Nifty today is placed at 18,450 levels while the resistance is seen at 18,700 levels. Bank Nifty would have the daily range of 43500-44300 levels.

Stocks to buy today

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

1] Laurus Labs: Buy at 346, target 362, stop loss 340;

2] Mazagon Dock: Buy at 838, target 885, stop loss 826; and

3] Jindal Steel: Buy at 524, target 547, stop loss 514.

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: 05 Jun 2023, 12:01 PM IST
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