Buy or sell shares for today: Dalal Street snapped its two-day winning streak on Thursday as disappointing US data renewed fresh fears of a global recession. The 50-share Nifty index closed 57 points lower at 18,107, while the 30-share BSE Sensex closed 187 points lower at 60,858. Bank Nifty closed 129 points south and closed at 42,328. Metals, oil and gas stocks continued to gain on hopes of China’s reopening.
intraday trading strategy for friday
Vaishali Parekh, Vice President- Technical Research, Prabhudas Lilladher is of the view that Nifty needs to break above 18,250 to continue the upward momentum. Prabhudas Lilladher expert said that bank nifty Crossing 42,700 to 42,800 levels on a closing basis would mean further upside in the banking index. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommends two intraday stocks for today and those two day trading stocks are Jubilant Foods and UPL,
Talking on Nifty chart patterns, Vaishali Parekh said, “Nifty after opening slightly on a weak note near 18,100 zone remained rangebound for the entire session without any major movement and closed to witness a lackluster day near 18,100 zone.” Happened. The index is. trending in and around the important 50EMA level of 18,100 area and will need to break the near term resistance area of 18,250 level which is very important to continue the uptrend further.”
Prabhudas Lilladher added that bank smelly A very narrow sideways movement was seen during the trading session, hovering near the 42,300 area, with most of the frontline banking stocks remaining flat.
“Nifty Bank index needs to signal a decisive breakout of 42,700 to 42,800 levels and expect further upside thereafter. Immediate support for Nifty is seen at 18,000 while resistance is seen at 18,250 levels. The daily range for Bank Nifty will be in the 42,000 to 42,800 levels, Parekh said.
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intraday stock for today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today, here we list down important details regarding the stocks that traded on those days:
1]Jubilant Food: Buy 510, target 535 stop loss 500; And
2]UPL: Buy on 747, target 773 stop loss 738.
Disclaimer: The views and recommendations given 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 Decision. The promoters of HT Media Limited, which publishes Mint and Jubilant Food, are closely related. However, there is no promoter cross-holding.
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