Buy or sell: Vaishali Parekh recommends three stocks to buy today — 24th August
Buy or sell stocks for today: Despite mixed global market sentiments ahead of US Fed Chairman Jerome Powell's speech at much awaited Jackson Home meeting, Indian stock market ended higher for third straight session on Wednesday. NSE Nifty added 47 points and closed at 19,444 levels, BSE Sensex gained 213 points and ended at 65,433 mark whereas Bank Nifty index surged 485 points and finished at 44,479 levels.
Broad market indices rose more than the Nifty even as the advance decline ratio remained firm at 1.47:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has bottomed out at 19,370 levels.
Prabhudas Lilladher expert went on to add that Dalal Street sentiments have improved after Nifty's closure above 19,400 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are City Union Bank (CUB), MTAR Technologies and SBI Life Insurance.
On outlook for Nifty today, Vaishali Parekh said, "Nifty, in the morning session after bottoming out near 19,370 zone, witnessed a gradual rise with improved bias and sentiment to close above the 19,400 zone and is anticipated to touch the 19,600 levels in the coming sessions. The daily trend has turned up after 8 days with the support maintained near the significant 50EMA level of 19,270 zone and witnessing a gradual rise in the last 3 sessions." "Bank Nifty, which has already turned up the daily trend after 19 days has indicated a positive bullish candle on the daily chart to strengthen the bias with most of the frontline banking stocks like Axis Bank, ICICI Bank, Kotak Bank and SBI looking attractive and improving their bias.
Read more on livemint.com
