Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 20
- Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — IRFC, McDowell - N or United Spirits and Syngene International
Buy or sell stocks for today: After trading range-bound throughout the day, Indian stock market finally ended lower on Friday last week. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 mark while Nifty Bank index corrected 577 points and finished at 43,583 levels. After remaining net buyers for two straight sessions, FIIs once again turned net net sellers on the previous session.
Intraday trading tips for Monday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50 is facing hurdle near 19,800 to 19,850 zone. Prabhudas Lilladher expert went on to add that Nifty 50 index may go up to 20,000 to 20,200 levels on breaching this hurdle decisively. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — IRFC, McDowellm - N or United Spirits and Syngene International.
On outlook for Nifty today, Vaishali Parekh said, "Nifty once again after opening on a flat note could not breach above the 19,800 zone finding resistance and gradually slipped further to end in the red near 19,750 levels with bias overall still maintained positive. The levels near 19,800 to 19,850 zone is a tough hurdle which needs to be breached to establish some conviction and proceed further for next higher targets of 20,000 to 20,200 levels."
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"Bank Nifty witnessed a plunge with bias turning weak, opening with a huge gap down and slipped further as the day progressed to indicate bearishness among the banking stocks and ended in the red near 43,600 zone. The index has got the next important support zone near 43,300 zone of the 200 period MA and a decisive breach below shall further weaken the trend," said Parekh.
Parekh went on to add that immediare support for Nifty 50 today is placed at 19,600 while the resistance is seen at 19,850 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three stocks to buy today, here we list out full details in regard to those intraday trading stocks:
1] IRFC: Buy at ₹76.90, target ₹82, stop loss ₹75;
2] McDowell - N or United Spirits: Buy at ₹1056, target ₹1110. stop loss ₹1036; and
3] Syngene International: Buy at ₹734.25, target ₹757, stop loss ₹722.
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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