Buy or sell: Vaishali parekh recommends three stocks to buy today — September 25
- Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — RVNL, BoB and Schneider Electric
Buy or sell stocks for today: On account of weak global cues, Indian stock market ended lower for fourth straight session on Friday last week. Nifty 50 index ended 68 points lower at 19,674 levels, BSE Sensex corrected 221 points and closed at 66,009 mark whereas Bank Nifty index finished 11 points lower at 44,612 levels. Small-cap index ended marginally in the positive even as the advance decline ratio improved to 0.99:1.
Intraday trading strategy for Monday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street sentiments have further weakened after Nifty 50 index closed below 19,700 levels on Friday. Prabhudas Lilladher expert went on to add that Nifty today has now crucil support placed at 19,600 levels and on breaching this support, there can be more correction expected in the Indian stock market. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are RVNL, Bank of Baroda (BoB) and Schneider Electric.
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On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty after the previous session slide witnessed further extended the losses to breach below the 19,700 zone decisively and touched the intraday low of 19,660 zone with sentiment maintained cautious and bias weakening with continued profit booking witnessed in Realty, Metals, and Energy."
"Bank Nifty also slipped further to touch the 44500 levels during the intraday session and closed near the 44600 zone with a high profit booking seen in HDFC Bank. With the next support being near 19600 levels and breaking below this, we have the next crucial and significant support of 19200 levels, which, if breached, can further weaken the bias and cause a further slide," Parekh said adding, "The support for the week is seen at 65,000/19,200, while the resistance is seen at 67,000/20,000. Bank Nifty would have a weekly range of 43,500–45,500 levels."
Stocks to buy today
1] RVNL: Buy at ₹166.85, target ₹180, stop loss ₹158;
2] Bank of Baroda: Buy at ₹215.40, target ₹239, stop loss ₹205; and
3] Schneider Electric: Buy at ₹348, target ₹390, stop loss ₹330.
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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