Buy or sell stocks for today: In this truncated week due to stock market holiday for Bakri Eid, both NSE Nifty and BSE Sensex climbed to a new peak. As Indian stock market is opening after one day gap, bulls would be expecting the extension of the rally whereas bears would be waiting for a pause. However, as per the stock market experts, short term trend on Dalal Street is still positive and any dip should be seen as buying opportunity.
Intraday trading strategy for Friday
Vaishali Parekh of Prabhudas Lilladher believes that Nifty today has support placed at 18,850 levels. The Prabhudas Lilladher expert went on to add that the 50-stock index may go up to 19,250 levels in near term as market sentiments are looking strong on chart pattern. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Bajaj Auto, ABB and Zydus Life.
On outlook for Nifty today, Vaishali Parekh said, “Nifty finally has created history by touching the 19000 landmark making the All Time High Level with bias and sentiment maintained strong. Now with near-term support of 18,800 zone, one can anticipate for next targets of 19,200-19,250 levels with most of the frontline heavyweight stocks getting into momentum improving their bias.”
“Bank Nifty also created history by hitting the new high zone of 44,500 levels after a long time of consolidation and has now opened the gates for further targets of 45,900-46,000 levels and 43700 level as the important near-term support zone,” said Parekh.
Parekh went on to add that Nifty today has support placed at 18,850 levels while the resistance is seen at 19,150 levels. Bank Nifty would have the daily range of 44,000 to 44,700 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three intraday stocks for today, here we list out full details in regard to those day trading stocks:
1] Bajaj Auto: Buy at ₹4716, target ₹4880, stop loss ₹4650;
2] ABB India: Buy at ₹4411, target ₹4580, stop loss ₹4350; and
3] Zydus Life: Buy at ₹582, target ₹610, stop loss ₹571.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 30 Jun 2023, 06:42 AM IST
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