Buy or sell shares for today: The Indian stock market closed marginally higher on Monday following strong global cues. The 50-stock index Nifty closed 38 points north at 17,398 and 32 out of 50 stocks ended in the green zone. The 30-stock index BSE Sensex added 114 points and closed at 59,106, while the Nifty Bank index gained 204 points to close at 40,813. In the broader market, the Mid-Cap index advanced 0.36 per cent, while the Small-Cap index gained 1.17 per cent.
intraday trading strategy for wednesday
Vaishali Parekh, Vice President-Technical Research at Prabhudas Lilladher believes that market sentiment has improved after Nifty closed above 17,200 level. Prabhudas Lilladher expert said that after closing above 17,500 level there will be further correction in the market trend. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommends three intraday stocks for today and trading stocks for the day are Can Fin Homes, Mahindra CIE Automotive and L&T Finance.
On today’s outlook for Nifty, Vaishali Parekh said, “Nifty opened near 17400 zone and remained rangebound throughout the trading session and ended on a flat note with bias and sentiment improved and so far above 17200 zone Up next in the index. The important area of 200DMA level is near 17500 area which will set the confidence for further move to the next target of 16750-16800 area in days to come.”
“Edge smelly overall better performance smelly The bias and sentiment is improving with the index decisively moving from the crucial 50EMA level of 40600, with most of the frontline banking stocks looking bullish. The index is expected to continue with a positive move till the next near term target of 41700-41800 zone, where there is a key hurdle which needs to be broken decisively to confirm the directional trend of the index in coming days. Added.
Vaishali Parekh of Prabhudas Lilladher said that support for Nifty can be seen at 17,250 levels while resistance can be seen at 17,550 levels. The daily range for Bank Nifty will be 40400-41200 levels.
stocks to buy today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended three intraday stocks for today, here we list the complete details regarding those trading stocks for the day:
1]Can Fin Homes: buy on 545, target 565 stop loss 537;
2]Mahindra CIE Automotive: buy on 361, target 377, stop loss 355; And
3]L&T Finance: buy on 83.75, Target 86, stop loss 82.50.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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