Buy or sell shares for today: After showing intraday weakness from higher levels on Monday, Dalal Street moved into a sustainable upside recovery after opening lower on Wednesday and closed in the positive zone. The Nifty 50 index closed at 17,754, up 42 points, the BSE Sensex advanced 123 points to close at 60,348, while the Nifty Bank index advanced 226 points to close at 41,577. In the broader markets, the small-cap index rose 0.28 per cent while the mid-cap index gained 0.61 per cent. The advance decline ratio ended at 1.27:1.
intraday trading strategy for thursday
Vaishali Parekh, Vice President- Technical Research at Prabhudas Lilladher believes that the overall market sentiment is strong. Prabhudas Lilladher expert said that a decisive breach above 17,800 will further strengthen the current trend on Dalal Street. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommends three intraday stocks for today and those three stocks are Gujarat Narmada Valley Fertilizers & Chemicals or GNFC, Mahindra & Mahindra or M&M’s And Bye consumer.
On today’s outlook for Nifty, Vaishali Parekh said, “Nifty opened lower near 17600 area but recovered quite decently to attain 17,700 level and showed better momentum to close near 17,750 area in last hours.” Observed, overall sentiment and bias remain strong. As said earlier. Near term support is strong near 17,550 area and further a decisive breach above 17,800 with momentum still to move to next target of 18,100 levels strengthen the current trend of
Prabhudas Lilladher Expert added this bank nifty It recovered slowly after a negative start and picked up momentum in the post-lunch session and ended near 41,600 level, with the overall bias remaining positive. Further ahead, if the index is given a decisive breach above 41,800 to 41,850 area then it would indicate a breakout above the previous peak level and 43,000 level could be expected as the next target.
“Support for the day is seen at 17,650, while resistance is seen at 17,900 levels. The daily range for Bank Nifty will be in the 41200-42000 levels,” Parekh said.
stocks to buy today
As mentioned above, Vaishali Parekh has recommended three intraday stocks for today, here we list the complete details regarding those stocks:
1]GNFC: buy on 570, target 595 stop loss 558;
2]M&M’s: buy on 1289, target 1327 stop loss 1270; And
3]Tata Consumers: buy on 720, target 748, stop loss 708.
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.
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