Stocks to buy or sell today: The Indian stock market closed in negative territory for the second consecutive session on Thursday due to fears of a global recession. The Nifty 50 index closed 126 points south at 17,877 while the BSE Sensex ended 412 points lower at 59,934. The Nifty Bank index lost 196 points to end at 41,209.
Vaishali Parekh Recommendations
Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that the overall bias bank nifty Nifty is still positive while Nifty is above important support. For traders doing ‘stock specific’ trading, Vaishali Parekh of Prabhudas Lilladher recommends buying the two stocks today. Those two stocks are Power Finance Corporation (PFC) and Mahanagar Gas Limited (MGL).
On Nifty technical outlook, Prabhudas Lilladher’s Vaishali Parekh said, “After a strong recovery a day ago, Nifty once again resisted the level of 18,100 and saw some profit-booking to close in the red near the 17,900 zone and continue for 5 days. After turned down the daily trend.
Prabhudas Lilladher Expert further said, “Bank Nifty also took a breather near 41,800 level and slipped 196 points to consolidate near 41,200 zone. For Bank Nifty, overall bias still remains positive. The daily trend is maintained and the near term support zone should be sustained near 17,700 levels as Nifty will turn a little cautious with bias. However, support for the day is seen at 17,750 while resistance is seen at 17,750. 18,000. The daily range for Bank Nifty will be 40,800 to 41,700 levels.”
buy or sell stock for today
Here we list the details regarding two stocks recommended by Prabhudas Lilladher’s Vaishali Parekh:
1]PFC: Buy On 118.50, target 124, stop loss 116; And
2]Buy at: MGL 895, Target 940, stop loss 872.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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