Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 23
- Buy or sell stocks: Vaishali Parekh of Prabhudas Lilladher has recommended three stocks to buy today — Birlasoft, Paras Defence and Mawana Sugars
Buy or sell stocks for today: Following weak global market sentiments on hawkish US Fed on interest rate hike, Indian stock market oscillated between red and green zone throughout the Thursday session. However, all three key benchmark indices finally ended lower due to weak global cues. NSE Nifty failed to climb a new peak on fourth occasion in this week as it retraced from 18,886 levels, just one point away from its current all-time high of 18,887. But, BSE Sensex hit new high on second day in a row as it hit a new high of 63,601 during pre-open session. Bank Nifty once again failed to sustain above 44,000 levels and closed 134 points lower at 43,724 mark.
Intraday trading strategy for Friday
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Nifty is facing tough resistance at 18,870 levels and the 50-stock index is taking time to achieve the psychological all-time high. Prabhudas Lilladher went on to add that one can continue to expect the Nifty 50 index to climb to a new peak till it is sustaining above 18,650 levels. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those three day trading stocks are Birlasoft, Paras Defence and Mawana Sugars.
On outlook for Nifty today, Vaishali Parekh of Prabhudas Lilladher said, "Nifty has been taking some time to achieve the psychological All-Time High level to be conquered and has been hovering in and around the 18,650 and 18,850 zone for the past few sessions. As said earlier, the near-term support lies at 18,670 zone whereas there is tough resistance witnessed near 18,870 levels as of now which needs a decisive breakout to make way for fresh upside targets in the coming days."
"Bank Nifty also is finding it difficult to move past the 44,000 zone and has been gripped within a tight range for quite a long time with 43,300 levels as the strong support while 43,200 to 43,300 zone as the tight resistance barrier," Parekh said.
Parekh went on to add that Nifty today has support placed at 18,650 levels while the resistance is seen at 18900 levels. Bank Nifty would have the daily range of 43,400 to 44,100 levels.
Stocks to buy today
As mentioned earlier, Vaishali Parekh has recommended three intraday stocks for today, here we list out full details in regard to those day trading stocks:
1] Birlasoft: Buy at ₹344, target 357, stop loss ₹338;
2] Paras Defence: Buy at ₹637, target ₹666, stop loss ₹626; and
3] Mawana Sugars: Buy at ₹103, target ₹108, stop loss ₹101.
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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