Active Stocks
Fri Sep 29 2023 15:59:14
  1. Tata Steel share price
  2. 129 1.78%
  1. NTPC share price
  2. 245.65 3.3%
  1. Power Grid Corporation Of India share price
  2. 199.85 -0.45%
  1. State Bank Of India share price
  2. 598.7 1.48%
  1. Wipro share price
  2. 406.25 0.11%
Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 18

Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 18

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Equitas Small Finance Bank, FACT and Deepak Nitrite

Stock market today: Nifty today has strong support placed at 18,000 levels, believes Vaishali Parekh or Prabhudas Lilladher.Premium
Stock market today: Nifty today has strong support placed at 18,000 levels, believes Vaishali Parekh or Prabhudas Lilladher.

Buy or sell stocks for today: Following weak global cues amid US debt ceiling crisis, Indian stock market ended lower on second day in a row. NSE Nifty lost 104 points and closed at 18,181 levels, BSE Sensex went down 371 points and closed at 61,560 mark whereas Nifty Bank index corrected 205 points and finished at 43,698 levels. In broad market, mid-cap index lost 0.16 per cent whereas small-cap index logged 0.25 per cent gains despite weakness in global sentiments.

Intraday trading strategy for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty today has strong support placed at 18,000 levels. Prabhudas Lilladher expected trend reversal from this support levels as last hour pull back in Bank Nifty index may provide support to the Indian stock market bulls on Thursday session. On intraday stocks for today, Vaishali Parekh recommended three day trading stocks and those three shares are Equitas Small Finance Bank, Fertilisers And Chemicals Travancore or FACT and Deepak Nitrite.

On outlook for Nifty today, Vaishali Parekh said, "Nifty gave a negative closing for the second consecutive day indicating two weak candles after the recent rally to anticipate for a trend reversal for the index having 18,000 as the psychological support as of now. The level near 17,800 of the significant 200DMA would be the major support zone for the index if there is any major slide witnessed in the coming days."

"Bank Nifty also breached the 43,700 zone during the intraday session to turn down the daily trend but still the last hour pullback has slightly improved the bias to some extent anticipating for some revival," Parekh said.

Vaishali Parekh of Prabhudas Lilladher went on to add that support for Nifty today is seen at 18,050 levels while the resistance is seen at 18,300 levels. Bank Nifty would have the daily range of 43,300 to 44,100 levels.

Stocks to buy today

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

1] Equitas Small Finance Bank: Buy at 82, target 86, stop loss 80.50;

2] FACT: Buy at 316.50, target 327, stop loss 311; and

3] Deepak Nitrite: Buy at 1972, target 2040, stop loss 1945.

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.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 18 May 2023, 06:25 AM IST
Next Story
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App