Buy or sell: Vaishali Parekh recommends three stocks to buy today — 14th August
Buy or sell stocks for today: Following weak global cues on US China tension, Indian stock market ended lower for second straight session. NSE Nifty finished 114 points lower at 19,428 levels, BSE Sensex ended 365 points down at 65,322 mark whereas Bank Nifty index corrected 342 points and closed at 44,199 levels.
Broad market indices fell less than the Nifty even as the advance decline ratio dipped to 0.65:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty today has crucial support placed at 19,300 levels and any decisive breach of this support would mean more downside in the index.
On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are IRCTC, NOCIL and Schneider Electric. On outlook for Nifty today, Vaishali Parekh said, "The Nifty index for the coming truncated week would have the crucial support zone of 19,300 levels which if breached decisively would overall weaken the trend to trigger for fresh downward slide further ahead with next major support visible way down near 18,800 zone.
On the upside, we have 19,600 levels as the near-term resistance barrier which needs to be breached above for further continuation of the upward move with conviction." "Bank Nifty index during the week has been in a weak bias resisting near the 45000 zone and last 2 sessions saw heavy profit booking breaching below the important 50EMA level of 44600 zone to indicate further weakness. Bank Nifty would be trading with a cautious approach with downside movement expected till 43300 zone which is the next major support and at the same time, for the bias to improve, the index needs to cross above the important zone of 44400 levels to
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