Buy or sell: Vaishali Parekh recommends three stocks to buy today — 22nd August
Buy or sell stocks for today: On account of buying in metal, power and IT stocks, Indian stock market ended higher on Monday session. NSE Nifty gained 83 points and ended at 19,393 levels, BSE Sensex surged 267 points and finished at 65,216 mark whereas Bank Nifty index added 150 points and closed at 44,002 levels.
Broad market indices rose more than the Nifty even as the advance decline ratio rose to 1.51:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has managed to maintaining above the important support zone of 19,270- to 19,300 levels.
Prabhudas Lilladher expert went on to add that the market sentiment has been easing out and anticipating for further rise once a decisive breach above 19,500 zone is confirmed. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Larsen & Turbo or LT, Paras Defence and Space Technologies and Power Grid Corporation.
On outlook for Nifty today, Vaishali Parekh said, "Nifty opened on a positive note, once again maintaining above the important support zone of 19,270 to 19,300 levels and as the day progressed gradually picked up momentum to scale 19,400 levels with the broader markets showing active participation. Nifty index has been holding on to the support zone, so the sentiment has been easing out and anticipating for further rise once a decisive breach above 19,500 zone is confirmed." "Bank Nifty opened near the 43,900 zone and witnessed some gains to find resistance near the 44,100 levels and closed near the 44,000 zone witnessing some profit booking in the final hours.
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