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

  • Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Axis Bank, CIE Automotive India, eClerx

Asit Manohar
First Published18 Sep 2023, 07:37 AM IST
Stock market today: Nifty today has support placed at 20,100 whereas it has hurdle placed at 20,350 levels, says Vaishali Parekh of Prabhudas Lilladher.
Stock market today: Nifty today has support placed at 20,100 whereas it has hurdle placed at 20,350 levels, says Vaishali Parekh of Prabhudas Lilladher.(iStock)

Buy or sell stocks for today: Following strong global market sentiments after better-than-expected Chinese economic data, Indian stock market ended in green terriroty for third straight session. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals. BSE Sensex too had a record closing at 67,838 levels after climbing to a new peak of 67,927 mark. Nifty Bank index gained 230 points and closed at 46,231 levels. Broad market indices rose less than the Nifty even as the advance decline ratio fell but remained above par at 1.26:1.

Intraday trading strategy for Monday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street sentiments have further improved as small-cap and mid-cap stocks have once again started to participate in current rally. Prabhudas Lilladher expert went on to add that Nifty is set to go up to 20,350 levels after making strong base at around 20,100 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Axis Bank, CIE Automotive India and eClerx.

On outlook for Nifty today, Vaishali Parekh said, "Nifty index continue to record new highs touching the 20,200 levels during the intraday session and is poised for further gains in the coming sessions with near term-target expected till 20,300 to 20,350 zone. The broader markets once again are regaining strength with significant participation visible from the mid-cap and small-cap counters supporting the index for further gains."

"Bank Nifty has almost reached the all-time high zone of 46,370 levels and is expected to breach the same in the coming sessions with most of the banking stocks looking positive and has much upside potentials. For the index, 45,300 would be the near-term support and a decisive breach above 46,400 zone shall trigger for further momentum with next higher target of 48,000 levels anticipated," said Parekh.

Parekh went on to add that Nifty today has support placed at 20,100 levels while the resistance is seen at 20,350 levels. Bank Nifty would have the daily range of 46,000 to 46,700 levels.

Stocks to buy today

1] Axis Bank: Buy at 1027, target 1070, stop loss 1010.

2] CIE Automotive India: Buy at 508, target 540, stop loss 498.

3] eClerx: Buy at 1851, target 1940, stop loss 1820.

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 decisions.

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First Published:18 Sep 2023, 07:37 AM IST
HomeMarketsStock MarketsBuy or sell: Vaishali Parekh recommends three stocks to buy today — September 18

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