Buy or sell shares for today: After a range-bound session on Thursday, Indian stocks moved into the weaker zone on Friday and closed lower for the second straight session. The 50-share Nifty closed 80 points lower at 18,027, the 30-share BSE Sensex closed 236 points lower at 60,621. However, the bullish bets on banking stocks continued as the Bank Nifty index closed at 42,506, up 177 points. In the broader markets, the small-cap index fell up to 0.50 per cent, while the mid-cap index fell around 0.66 per cent in the weekend session.
intraday trading strategy for monday
Unveiling the trading guide for today, Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher said Dalal Street may continue to remain volatile as most of the frontline stocks are expected to announce results this week. Prabhudas Lilladher expert said that the Nifty is in the range of 17,800 to 18,250 and a break on either side of the range can suggest a bullish or bearish trend. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommends three intraday stocks for today and they are three day trading stocks Cochin Shipyard, greaves cotton And Chalet Hotel,
Vaishali Parekh talking on Intraday Trading Tips said, “Nifty after opening on a flat note attempted to cross 18150 area but could not sustain a gradual slide for the index to end the session near 18000 area.” Could hold. With majority of frontline stocks. Results to be released during the week we anticipate uptrend in the indices with 17800 as important support area and so far capped at 18250 and as said earlier A decisive breach is needed to establish a directional move and still continue the momentum forward.”
ICICI Bank stock in focus
Prabhudas Lilladher further said that in Friday’s session the Bank smelly Momentum once again stalled seeing tough resistance zone near 42,700 levels and some profit booking was seen near 42,500 area awaiting key results from ICICI Bank and Axis Bank during the week.
“Support for Nifty is seen at 17,900 while resistance is seen at 18,200 levels. bank nifty Parekh said, 42,000 to 43,000 levels would be the daily range.
stocks to buy today
As mentioned above Vaishali Parekh recommended three day trading stocks for today, here we list the complete details regarding those intraday stocks for Monday session:
1]Cochin Shipyard: buy on 508, target 538 stop loss 500;
2]Greaves Cotton: buy on 145, target 250, stop loss 143; And
3]Chalet Hotel: buy on 340, target 356 stop loss 335.
Disclaimer: The views and recommendations given above are of individual analysts or broking company and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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