Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 15

Buy or sell stocks for today: Following strong global market sentiments, Indian stock market ended higher on Thursday. NSE Nifty climbed to a new peak of 20,167 during Thursday deals and finally ended at 20,103 levels. BSE Sensex too hit a new peak of 67,771 whereas Nifty Bank index inched close to its life-time high of 46,369. However, broad market outperformed key benckmark indices as small-cap index shot up 1.15 per cent while mid-cap index surged 1.02 per cent. Advance decline ratio rose to 2.70:1.

Intraday trading strategy for Friday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that NNifty today is consolidating around ₹20,100 levels. Prabhudas Lilladher expert went on to add that Nifty may go up to 20,300 levels in near term as rally in broad markt is supporting the 50-stock index. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today and those day trading stocks are BHEL, Bank of Maharashtra and VIP Industries.

On outlook for Nifty today, Vaishali Parekh said, “Nifty recorded new high in the morning session near 20,160 zone and thereafter finding consolidation near 20,100 ended the day on a positive note slowly inching towards our target of 20,300 zone. Once again the participation from the broader markets were significant to support the index and one can anticipate for further rise in the coming sessions.”

“Bank Nifty witnessed a rangebound session overall with the PSU Banking stocks indicating active participation with decent gains and has much scope of further upside movement. Bank Nifty closed on a positive note near 46,000 mark with most of the frontline banking stocks well poised and a decisive breach above 46,300 shall trigger for further momentum to achieve higher targets in the coming days,” said Parekh.

Parekh went on to add that strong support for Nifty today is placed at 20,000 levels while the resistance is seen at 20,300 levels. Bank Nifty would have the daily range of 45,800 to 46,500 levels.

Stocks to buy today

1] BHEL: Buy at ₹129.90, target ₹140, stop loss ₹127;

2] Bank of Maharashtra: Buy at ₹43.95, target ₹50, stop loss ₹42; and

3] VIP Industries: Buy at ₹693.40, target ₹730, stop loss ₹682.

Disclaimer: The views and recommendations made 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 decisions.