Buy or sell stocks for today: On account of strong global cues, Dalal Street ended higher on third straight session on Monday. Nifty 50 index went up 225 points and ended at 18,012 while BSE Sensex shot up 786 points and closed at 60,746 levels. Bank Nifty index gained 317 points and ended at 41,307 mark. Among sectors, consumer durables, capital goods and auto indices rose the most. Mid-cap index surged in line with the Nifty while Small-cap index rose lesser. Advance decline ratio finished on a positive note at 1.23:1.
Stock market today: Intraday trading strategy for Tuesday
Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that monthly chart of 50 stocks index looks positive and Nifty 50 may retest its previous peak zone of 18,600 levels. On intraday stocks for today Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today and those two stocks are Indian Hotels Company and Jubilant FoodWorks.
On intraday trading tips for Tuesday, Vaishali Parekh of Prabhudas Lilladher said, “Nifty opened with a gap up on a positive bias and finally breached the 18,000 zone during the intraday session to retest the psychological figure to and anticipate for further upward move in the coming days. Bank Nifty on the other hand underperformed the Nifty index with ICICI Bank, Axis Bank and SBI witnessing consolidation phase but with Kotak and HDFC Bank going strong helped the index to close above the 41,300 levels.”
Vaishali Parekh went on to add that the monthly trend of Nifty has again turned up to overall strengthen the trend with further strong upward move anticipated to retest the previous peak zone of 18,600 levels. The support for the day is seen at 17,850 while the resistance is seen at 18200. Bank Nifty would have the daily range of 40,900 to 41,900 levels.
Vaishali Parekh’s stock recommendations
As mentioned above, Vaishali Parekh has recommended two stocks to buy today. Here we list out details in regard to those stocks to buy today:
1] Indian Hotels Company: Buy at ₹333, target ₹350, stop loss ₹327; and
2] Jubilant FoodWorks: Buy at ₹609, target ₹635, stop loss ₹600.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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