BackBuy or sell: Vaishali Parekh recommends three stocks to buy today — September 20
Buy or sell stock: Vaishali Parekh has recommended three stocks to buy today — Power Grid, BPCL and TVS Motor
PremiumBuy or sell stocks for today: Following weak global market sentiments, Indian stock market fell on Monday. NSE Nifty lost 59 points and closed at 20,133 levels, BSE Sensex went down 241 points and closed at 67,596 mark whereas Nifty Bank index corrected 251 points and ended at 45,979 levels. Volumes on the NSE continued to be on the lower side. Small-cap index fell more than the Nifty even as the advance decline ratio fell sharply to 0.65:1.
Intraday trading strategy for Wednesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall trend is maintained positive. Prabhudas Lilladher expert maintained that scope for further upside is expected till Nifty is sustaining above 19,950 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Power Grid Corporation of India, BPCL and TVS Motor.
On outlook for Nifty today, Vaishali Parekh said, "Nifty remained subdued opening slightly on a negative note failing to move past the 20,200 zone finding resistance and ended in the red with some profit booking witnessed. The overall trend is maintained positive with near-term support maintained near 19,950 zone and has further upside scope in the coming days till the levels are sustained."
"Bank Nifty also witnessed some profit booking from the peak zone where it has resisted near the previous peak zone of 46,370 levels and ended in the red near 46,000 zone with overall trend maintained intact. The major support zone for the index would be at around 45,300 levels and upside a decisive breach above the 46,370 zone is needed to indicate a breakout," said Parekh.
Parekh went on to add that Nifty today has immediate support placed at 20,000 levels while the resistance is seen at 20,300 levels. Bank Nifty would have the daily range of 45,700 to 46,400 levels.
Stocks to buy today
1] Power Grid: Buy at ₹200, target ₹214, stop loss ₹195.
2] BPCL: Buy at ₹360, target ₹385, stop loss ₹353.
3] TVS Motor: Buy at ₹1526, target ₹1620, stop loss ₹1500.
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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