Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 28

Buy or sell stocks for today: The Indian stock market continued its upside momentum and witnessed a decent rally on Wednesday led by sharp gains in index heavyweights. The benchmark index NSE Nifty 50 rose 118.95 points, or 0.54%, to close at 22,123.65, while the BSE Sensex ended 526.01 points, or 0.73%, higher at 72,996.31 on March 27. The broader markets ended mixed as the Nifty Smallcap 100 index gained 0.96%, while the Nifty Midcap 100 index settled flat with a positive bias.

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Intraday trading tips for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said that the Nifty 50 index once again recovered from the 22,000 zone and extended the gains with improvement in the bias witnessed but still needs a decisive breach above the 22,300 levels, to establish conviction for further upward move. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks — Hindustan Copper, Titagarh Rail Systems and SAIL.

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Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, “The support as of now is maintained strong near the significant 50 EMA (Exponential Moving Average) level of 21,900 zone and being the monthly expiry, one can anticipate volatility in the market. The support for the day is seen at 22,000 level while the resistance would be seen at 22,300 levels.”

“Bank Nifty is witnessing a sideways movement between 46,200 and 47,000 zone with some of the heavyweights like HDFC Bank, Axis Bank and Kotak Bank indicating some improvement in their bias and anticipating for a decisive breach above 47,300 levels which can bring conviction for further rise. Bank Nifty would have the daily range of 46,400 - 47,200 levels,” Parekh added.

According to her, the support for Bank Nifty is seen at the 46,400 level, and resistance is placed at the 47,200 level.

Also Read: Stocks to buy: IndiGo, Adani Ports, Jindal Steel among 5 stocks that can rise 12-53% in next 1 year, say brokerages 

Vaishali Parekh stocks to buy today

1] Hindustan Copper: Buy at ₹285, target ₹300, stop loss ₹278

2] Titagarh Rail Systems: Buy at ₹929.85, target ₹970, stop loss ₹910

3] SAIL: Buy at ₹133.65, target ₹142, stop loss ₹130

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