Press "Enter" to skip to content

Buy or sell: Vaishali Parekh of Prabhudas Lilladher recommends these 2 stocks to buy today — 5th Sept | Mint – Mint

Buy or sell: After a highly volatile session on Friday last week, stock market experts are suggesting investors to avoid fresh long positions and book profit in their trading bets. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher has suggested intraday traders to know the pivot points and enter or exit positions on the basis of these important levels.

Vaishali Paresh of Prabhudas Lilladher believes that Nifty 50 index has support placed at 17,350 to 17,400 levels whereas resistance for the index is placed at 17,700 to 17,750 mark. On Bank Nifty, she said that immediate support for the index is placed at 38,950 to 39,000 levels whereas the index is facing resistance at 39,900 to 39,950 mark.

As per Prabhudas Lilladher report, “Technically, Nifty Bank continues to be sideways, however showing robust strength for upside momentum to resume soon. Resistance placed at 39,720 zones, with immediate support at 38,847 on daily charts now, shows the consolidation phase in a very narrow range, and a breach of either side will give more clarity on the move ahead.”

Vaishali Parekh’s stocks to buy today

Prabhudas Lilladher expert has recommended Bharat Forge and Welcoprp shares to buy today. Here we list out the details in regard to Vaishali Parekh’s stock picks for intraday traders:

1] Bharat Forge: Buy at 766, target 796, stop loss 748; and

2] Welspun Corp: Buy at 241, target 256, stop loss 234.

On Friday session, world stocks were heading for a 3 per cent loss on the week while the dollar hit 24-year highs against the yen ahead of key US jobs data, as investors brace for US jobs report on Friday evening last week and aggressive rate hikes from the Federal Reserve. However, likely resumption of Russian gas supplies to Europe stabilised sentiments in Europe.

On Dalal Street, Nifty 50 index closed 3 points lower at 17,539 whereas BSE Sensex ended 36 points higher at 58,803 levels. But, Nifty Bank index surged 119 points and closed at 39,421 levels. Mid-cap index underperformed Nifty falling 0.35 per cent on Friday session. Among sectors, capital goods index rose the most while oil & gas and metal indices fell the most. The advance decline ratio was negative at 0.86:1.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.