Buy or sell: Vaishali Parekh recommends three stocks to buy today — August 13
Buy or sell stocks for today: Domestic benchmark equity indices Sensex and Nifty 50 ended Monday's session with little change, reflecting mixed global cues. Despite an earlier dip, both indices recovered by the afternoon, buoyed by positive trends in international markets and fresh inflows of foreign capital.
The 30-share BSE Sensex closed down by 56.99 points, or 0.07%, ending at 79,648.92, while the Nifty 50 finished at 24,347.00, a decrease of 20.50 points or 0.08%. Vaishali Parekh, Vice President— Technical Research at Prabhudas Lilladher, believes the Nifty 50 index has been in the 24,000 to 24,400 zone.
The Prabhudas Lilladher expert said that a bullish or bearish trend on Dalal Street can be assumed on the breakage of either side of the range. Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks: GAIL, Graphite India and Jupiter Wagons.
On the outlook for Nifty today, Vaishali Parekh said, “Nifty has been holding with a rangebound movement for the last 3-4 sessions, hovering near the 24300-24400 zone failing to give a close above the 24,400 levels which is important to establish conviction and thereafter anticipate for further rise for next target of 24,700 levels, with at the same time, 24,000 zone of the significant 50EMA level maintained as the strong and crucial support level." On the Bank Nifty outlook today, Parekh further added, “Bank Nifty overall is witnessing a sluggish move with gradual rise seen and as mentioned earlier, would need a decisive breach above the 51,000 zone to trigger for fresh upward move in the coming days. The 100-period MA zone at 49,600 level would be the crucial support zone for the index failing which a fresh slide can be anticipated.
Read more on livemint.com
