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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 28
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 28

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — CG Power & Industrial Solutions Ltd, Happiest Minds Technologies Ltd, and Castrol India Ltd.

Stock market today: Nifty 50's support for the day is seen at 22,100 level believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50's support for the day is seen at 22,100 level believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Domestic benchmark equity indices Sensex and Nifty 50, ended higher in the previous session amidst a choppy trading session led by gains in information technology (IT), auto, pharma, and realty stocks.

The 30-share BSE Sensex ended higher by 305.09 points or 0.42 per cent at 73,095.22 level while the Nifty 50 closed at 22,198.35 level, up 76.30 points or 0.34 per cent. On the broader market front, the Nifty Midcap 100 closed 0.12 per cent lower, and the Nifty SmallCap 100 closed 0.28 per cent higher.

Also Read: Exicom Tele-Systems IPO: Planning to invest? 10 key risks you should know before subscribing to the issue

Investors have been focusing on important US and domestic economic data. The overall trend, according to analysts, is positive, with no negative developments anticipated for domestic markets and expectations that macroeconomic data points such as the gross domestic product (GDP) data will be in favour of markets and take markets to new highs in the coming days.
 

Intraday trading tips for Wednesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50's overall bias has sustained strong and the index is expected to carry on with positive move for next targets of 22,400 and 22,800 levels anticipated in the coming days.

The Prabhudas Lilladher expert added that Bank Nifty's near-term support is maintained near the 50EMA level of 46,200 zone and the index would need to breach above the 47,300 band to trigger for fresh upward move.

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today —CG Power & Industrial Solutions Ltd, Happiest Minds Technologies Ltd, and Castrol India Ltd.

Also Read: NSE is now India's second-largest commodity platform… with an asterisk


Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, ‘’Nifty as on now taking support near the 22,100 zone has picked up gradually with some volatility witnessed and ended the session near 22,200 zone with bias once again improving and anticipating for further rise in this week.'' 

Parekh went on to add that the support for the day is seen at 22,100 level while the resistance would be seen at 22,400.

On Bank Nifty, Parekh said, ‘’Bank Nifty took support near 46,350 zone during the intraday session and ended on a flat note near 46,600 level.'' According to Parekh, Bank Nifty would have the daily range of 46,300-47,000 levels.

Nifty Spot Index

Support – 22,100

Resistance - 22,400

Bank Nifty Spot Index

Support – 46,300

Resistance – 47,000
 

Stocks to buy today

1.CG Power & Industrial Solutions Ltd: Buy CG Power & Industrial Solutions at 439, Target 462, Stop Loss 428

2.Happiest Minds Technologies Ltd: Buy Happiest Minds Technologies Ltd at 872.65, Target 907, Stop Loss 853

3.Castrol India: Buy Castrol India at 205.20, Target 217, Stop Loss 200.

 

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 28 Feb 2024, 06:09 AM IST
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