Buy or sell: Vaishali Parekh recommends three stocks to buy today — 18th August
Buy or sell stocks for today: On account of weak global market sentiments, Indian stock market ended lower on Thursday. NSE Nifty lost 99 points and closed at 19,365 levels, BSE Sensex corrected 388 points and ended at 65,151 mark whereas Bank Nifty index went off 55 points and closed at 43,891 levels.
Broad market indices ended minorly in the positive even as the advance decline ratio ended at 0.91:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has managed to maintain the crucial support zone of 19,270 to 19,300 levels.
Prabhudas Lilladher expert went on to add that overall market sentiment is cautious. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Bajaj Auto, RCF and Bandhan Bank.
On outlook for Nifty today, Vaishali Parekh said, "Nifty has been hovering near the range of 19,300 and 19,450 zone for quite some time maintaining the crucial support zone of 19,270 to 19,300 levels with the bias remaining cautious till the zone above 19,450 levels is not breached decisively. The significant 50EMA level lies near 19,270 level and a decisive breach below that zone would weaken the trend to anticipate for further slide." On outlook for Bank Nifty today, Parekh said, "Bank Nifty has been moving near the 43,700-44,000 zone with a cautious bias with 43,300 levels acting as the major crucial support zone for the index failing which the overall trend would turn weak and can expect for intensified profit booking ahead.
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