Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 11

Buy or sell stocks: Despite strong global cues on a possible US Fed rate cut buzz, the Indian stock market remained range-bound on Thursday last week. The Nifty 50 index added 19 points and closed at the 22,493 level, the BSE-sensitive index Sensex went up 33 points and ended at the 74,119 mark whereas the Bank Nifty index finished 129 points lower at 47,865 level. However, the broad market witnessed buying interest as the small-cap index went up 0.70 percent while the mid-cap index shot up 0.39 percent.

Intraday trading tips for Monday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index touched a new lifetime high of 22,525 on Thursday, which signals that the market sentiment is overall positive. The Prabhudas Lilladher expert went on to add that the 50-stock index could surge to a new peak due to strong buying in the Tata group stocks. 

On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today and those three shares are PVR, HDFC Life, and ITC.

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Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index hit a record high of 22,525.40 during the intraday session on Thursday, with TATA's stocks leading from the front and helping the index touch the peak level. Overall, with the bias and sentiment looking strong, it is anticipated to carry on the momentum still further to scale 22,800 to 23,000 levels."

"Bank Nifty, which has already indicated strength, is gradually on the rise and is hovering near the 48,000 zones with positive bias maintained, with frontline banking stocks like HDFC Bank, Kotak Bank, and IndusInd Bank looking good for the near-term future. With the indices at their peak levels, some consolidation is anticipated, with the trend remaining strong and further rises expected in the coming days," said Parekh.

Parekh went on to add that the support for the week is seen at 73,000/22,000 levels, while the resistance is seen at 75,200/23,000 levels. Bank Nifty would have a weekly range of 46,500 to 49,000 levels.

Stocks to buy today

1] PVR: Buy at ₹1415, target ₹1500, stop loss ₹1360;

2] HDFC Life Insurance: Buy at ₹622, target ₹660, stop loss ₹600; and

3] ITC: Buy at ₹413, target ₹440, stop loss ₹398.

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.