Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 15 | Mint
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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 15
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 15

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — CIE Automotive India, HBL Power, BEL

Stock market today: Nifty 50 index needs to sustain above crucial 19,400 levels to keep the bias intact, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index needs to sustain above crucial 19,400 levels to keep the bias intact, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Witnessing sell off in late hours, Indian stock market ended close to its intraday low on Monday. Nifty 50 index finished 82 points lower at 19,443 levels, BSE Sensex gained 325 points and closed at 64,933 mark whereas Bank Nifty index added 105 points and ended at 43,891 levels. Volumes on the NSE were at the lower end of the range. Midcap index ended minorly in the positive even as the advance decline ratio.

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Intraday trading tips for Wednesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50 index needs to sustain above crucial 19,400 levels to keep the bias intact. However, for fresh bull trend, the 50-stock index needs to breach its hurdle placed at 19,650 levels, said Prabhudas Lilladher expert. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — CIE Automotive India, HBL Power and BEL.

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On outlook for Nifty today, Vaishali Parekh said, "Nifty, after opening on a flat note, attempted to cross the 19500 zone but could not sustain it and witnessed a gradual slide to end the session near the 19440 zone for the index. The index has managed to remain above the crucial 19400 zone, which is quite important to maintain the bias and sentiment intact as of now. As said earlier, once a decisive move past the 19650 zone is established, a clear directional move with conviction is anticipated."

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"Bank Nifty witnessed fluctuations swinging between the 44000 and 43700 zones, and a close below 44000 levels has implied a slightly cautious approach with major frontline banking stocks, except PSU banks, moving sideways with no clear direction," said Parekh.

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Parekh went on to add that immediate support for Nifty today is placed at 19,550 levels. Bank Nifty would have a daily range of 43400–44200 levels.

Stocks to buy today

1] CIE Automotive India: Buy at 485.20, target 525, stop loss 470;

2] HBL Power: Buy at 324.85, target 350, stop loss 315; and

3] BEL: Buy at 143.40, target 155, stop loss 137.

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.

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ABOUT THE AUTHOR
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. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 15 Nov 2023, 07:28 AM IST
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