BackDay trading guide: Vaishali Parekh of Prabhudas Lilladher recommends these 3 stocks to buy today — February 24
Vaishali Parekh of Prabhudas Lilladher has recommended three stocks to buy today
PremiumEquity benchmark indices remained under selling pressure for the fifth straight session on Thursday on weak global cues and concerns over rate hikes by the US Federal Reserve unnerved investors. The BSE Sensex declined 139 points to settle at 59,605.8 whereas the NSE Nifty slipped 0.25% to end at 17,511. In the broader market, the BSE midcap gauge declined 0.4%, while the smallcap index gained marginally by 0.06%. Meanwhile, the rupee appreciated by 15 paise to close at 82.73 (provisional) against the US dollar on Thursday.
Intraday trading strategy for today
Nifty view by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd
Vaishal Parekh said that “Nifty witnessed a volatile session on the expiry day ranging between 17600 and 17450 zone finally closing near the 17500 levels with sentiment and bias maintained weak. The index has got the next major support zone near the significant 200 DMA level of 17350 which is also where the previous crucial bottom was made on the Budget day. The support for the day is seen at 17450 while the resistance is seen at 17650."
Bank Nifty View
“Bank Nifty also witnessed much fluctuations hovering between the 40100 and 39800 levels and ended the session at 40000 levels with bias overall maintained weak. The index has got the next major support zone near 39500 levels and thereafter 39200 of the significant 200DMA levels. Bank Nifty would have the daily range of 39500-40500 levels," said Parekh.
Intraday stocks picks for today -
Sharing as the top picks for Friday, Vaishali Parekh of Prabhudas Lilladher has recommended three stocks to buy today which are Tata Motors, Gail and EIH Ltd.
Tata Motors: Buy Tata Motors at ₹433, stop loss ₹425, target ₹450
GAIL: Buy GAIL at ₹98, stop loss ₹96, target ₹104
EIH: Buy EIH Ltd at ₹164, stop loss ₹160, target ₹173
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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