Buy or sell: Vaishali Parekh recommends three stocks to buy today — 18th July
Buy or sell stocks for today: Following strong global market cues, Indian stock market ended higher on Monday. Nifty and Sensex scaled to a new peak of 19,731 and 66,656 respectively. Bank Nifty index finished 630 points higher at 45,449 mark.
Small-cap index rose more than the Nifty even as the advance decline ratio was up at 1.58:1. Vaishali Parekh, Vice President — Research at Prabhudas Lilladher believes that overall trend is positive for Indian stock market and Nifty is headed for 19,900 to 20,000 target. Prabhudas Lilladher expert went on to add that Nifty today has strong support now placed at 19,300 levels.
On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are RITES, Adani Enterprises and Axis Bank. On outlook for Nifty today, Vaishali Parekh said, "Nifty has witnessed another session of strong closing after the consolidation phase to strengthen the bias and sentiment to anticipate for further gains with targets of 19,900 to 20,000 in the coming days with support now maintained near the 19,300 zone. There is decent participation witnessed from the heavyweight stocks along with the broader indices which are getting into a positive trend once again." "Bank Nifty has indicated a strong close near the 45,500 zone with major frontline banking stocks getting into positive bias and once a decisive breach above 45,600 is established, we can confirm a breakout to anticipate for fresh upward move till target levels of 47,000 to 47,500 zone.
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