Buy or sell: Vaishali Parekh recommends three stocks to buy today — 31st July
Buy or sell stocks for today: Following mixed trend in global market, Indian stock market ended lower for second straight session. NSE Nifty ended 13 points lower at 19,646 levels, BSE Sensex lost 106 points and finished at 66,160 mark while Bank Nifty index corrected 211 points and closed at 45,468 levels.
However, broad market indices outperformed key benchmark indices as small-cap index surged 0.49 per cent whereas mid-cap index went up 0.55 per cent. Vaishali Parekh, Vice President — Research at Prabhudas Lilladher believes that Nifty today has immediate support placed at 19,550 levels.
Prabhudas Lilladher expert went on to add that a decisive breach and sustaining below 19,600 zone shall weaken the trend further to see further slide with next major support zone lying near 19,250 to 19,300 zone. Asked about stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are HAL, GAIL and NTPC.
On outlook for Nifty today, Vaishali Parekh said, "Nifty after resisting near the psychological barrier of 20,000 zone has slipped down with support maintained near 19,600 levels on twice occasions indicating a strong base and further rise is anticipated. A decisive breach and sustaining below 19600 zone shall weaken the trend further to see further slide with next major support zone lying near 19,250 to 19,300 zone." "Bank Nifty after resisting near the 46300 zone has slipped down with near-term support maintained near the 45,000 levels and with 46,300 zone acting as the important hurdle, a decisive breach above that zone is needed to carry on the momentum still further ahead with next targets of 48,000 to 48,200 anticipated.
Read more on livemint.com
