Buy or sell: Vaishali Parekh recommends three stocks to buy today — August 16
Buy or sell stocks for today: In this truncated week on Dalal Street, Indian stock market will resume trade session today after a gap of one day as stock market was closed on Friday for Independence Day 2023. On Monday, Nifty and Sensex recovered from morning losses and ended marginally higher.
NSE Nifty finished 6 points higher at 19,434 levels, BSE Sensex gained 79 points and closed at 65,401 mark whereas Bank Nifty index lost 108 points and finished at 44,090 levels. Broad market indices fell almost half a per cent even as the advance decline ratio fell to 0.62:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Indian stock market sentiments have improved after Nifty's pull back from 19,260 zone on Monday. Prabhudas Lilladher expert went on to add that 19,270 to 19,300 zone is expected to remain strong cushion for Nifty today.
On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Mazagon Dock, Graphite India and DCX Systems. On outlook for Nifty today, Vaishali Parekh said, "The Nifty index opened on a weak note to touch the low of 19,260 zone after which it witnessed with a massive pullback recovery of 170 points to end on a flat note with sentiment improved.
Once again the zone near 19,270 to 19,300 levels proved to be an important support where it has indicated a double bottom formation pattern on the daily chart to anticipate for further gains on the upside." "Bank Nifty also recovered strongly from the lows of 43,780 level made in the morning session and managed to close above the 44,000 zone with bias improving to some extent. A decisive close above the 44,300 zone would once again improve the trend and can
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