Buy or sell: Vaishali Parekh recommends three stocks to buy today — 1st August
Buy or sell stocks for today: Following strong global market sentiments, Indian stock market resumed uptrend after falling for two straight sessions. NSE Nifty gained 107 points and closed at 19,753 levels, BSE Sensex went up 367 points and closed at 66,527 mark whereas Bank Nifty finished 183 points higher at 45,651 levels.
Broad market indices rose more than the Nifty even as the advance decline ratio rose to 1.93:1. Vaishali Parekh, Vice President — Research at Prabhudas Lilladher believes that bias at Indian stock market has improved after Nifty's close above 19,750 levels.
Prabhudas Lilladher expert went on to add that a decisive move past 19,850 zone would again strengthen the trend we can expect the Nifty index to test 20,000 mark. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Himatsingka Seide, RVNL and GRSE.
On outlook for Nifty today, Vaishali Parekh said, "Nifty once again maintaining the support near 19,600 zone gradually picked up as the day progressed and close on a positive note near 19,750 levels with bias improved. As said earlier, a decisive move past 19,850 zone would again strengthen the trend and can expect to retest the 20,000 zone and make new highs in the coming days." "Bank Nifty also has maintained the support near 45,300 zone and witnessed a gradual pullback to close near 45,650 levels with consolidation seen in the major banking stocks.
The levels near 45,000 is the crucial support zone and upside a decisive breach above 46,300 zone would trigger for a fresh breakout for further higher targets visible," said Parekh. Parekh went on to add that immediate support for Nifty today is placed at 19,650 levels while the
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