Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 10

Buy or sell stocks for today: Indian stock market swung between gains and losses and finally ended lower on Thursday session. Nifty 50 index lost 48 points and closed at 19,395 levels, BSE Sensex went down 143 points and closed at 64,832 mark whereas Bank Nifty index finished 24 points higher at 43,683 levels. Mid-cap index ended minorly in the positive even as the advance decline ratio ended in the negative at 0.75:1.

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Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that Nifty 50 index has been consolidating for quite some time finding resistance near the 19,400 to 19,450 zone. Prabhudas Lilladher expert went on to add that a decicive breach of 19,500 to 19,550 is important for NSE Nifty to further improve the market bias. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Coal India, APL Apollo Tubes and NOCIL.

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On outlook for Nifty today, Vaishali Parekh said, "Nifty once again after opening on a flat note remained rangebound throughout the session witnessed a gradual slide in the second half to end just below the 19,400 zone. The index has been consolidating for quite some time finding resistance near the 19,400 to 19,450 zone and with 19,200 to 19,250 acting as the support zone, a decisive breach above the hurdle of 19,500 to 19,550 zone is necessary to strengthen the bias further."

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"Bank Nifty also after a flat opening witnessed a range-bound session to end on a flat note once again near 43,700 zone consolidating since the last 2-3 sessions. As said earlier, the index needs to breach above the 44,000 zone to further strengthen the trend and establish some conviction to anticipate for further rise in the coming days," said Parekh.

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Parekh went on to add that immediate support for Nifty today is placed at 19,250 levels, while the resistance is seen at 19,550 levels. Bank Nifty would have a daily range of 43,400 to 44,000 levels.

Stocks to buy today

1] Coal India: Buy at ₹323.55, target ₹340, stop loss ₹317;

2] APL Apollo Tubes: Buy at ₹1646.35, target ₹1725, stop loss ₹1617; and

3] NOCIL: Buy at ₹224.95, target ₹236, stop loss ₹2221.

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 taking any investment decision.