Buy or sell stocks for today: Following weak sentiment in global markets, Dalal Street For the second consecutive session on Thursday, the bears remained in the grip. 50 stock index Nifty 50 closed 128 points lower at 18,028, BSE Sensex closed 419 points lower at 60,613 while Bank Nifty closed 179 points lower at 41,603. The broader market indices fell more than the Nifty even though the forward drawdown ratio fell to 0.44:1.
Stock Market Today: Day Trading Strategy for Friday
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher believes that the overall sentiment is cautiously positive till date. Prabhudas Lilladher’s Vaishali Parekh said a decisive breach above the 41,800 zone is needed for the Bank Nifty index to establish some conviction and further fresh hopes. On today’s intraday stocks, Prabhudas Lilladher expert listed two stocks to buy today and those two stocks are HDFC Bank and Hero MotoCorp.
On intraday trading tips, Vaishali Parekh said, “Nifty opened with a gap and broke below 18000 zone during intraday session and indicated some weakness for some time but managed to close above the crucial 18000 level Stayed but turned down. Daily trend after 17 days so far to bring some cautious outlook. Bank Nifty saw some recovery in post lunch session after opening slide to correct bias to some extent and as stated earlier Had, the index would need a decisive breach above. 41800 zone to establish some conviction and look forward to a fresh upward move.”
Parekh said, “As of now the overall bias is maintained positively, support for the day is seen at 17900, while resistance is seen at 18150. Daily range for Bank Nifty will be at 41200-42100 levels. “
Stock Recommendations of Vaishali Parekh
As mentioned above, Vaishali Parekh has two recommended stocks to buy today. Here we list down the important details regarding those two stocks:
1]HDFC Bank: Buy Here 1524, target 1568, stop loss 1495; And
2]Hero MotoCorp: Buy Here 2712, Target 2780, stop loss 2675.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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