Buy or sell: Vaishali Parekh recommends three stocks to buy today — 4th September
Buy or sell stocks for today: Following strong global market sentiments, Indian stock market ended higher on Friday session. NSE Nifty gained 181 points and closed at 19,435 levels, BSE Sensex went up 555 points and ended at 65,387 mark whereas Bank Nifty index finished 446 points higher at 44,436 levels.
Broad market indices rose less than the key benchmark indices even as the advance decline ratio remained firm at 1.69:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has bounced back from 19,250 to 19,270 zone for fourth time and its closure near 19,450 on a strong note indicates positive sentiments about Dalal Street trend on Monday.
Prabhudas Lilladher expert went on to add that 19,550 is immediate resistance for Nifty today. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are REC, BEL and City Union Bank (CUB).
On outlook for Nifty today, Vaishali Parekh said, "Nifty once again maintained the crucial and important support zone of 19250-19270 zone for the 4th time in this last one month and witnessed a massive gain closing on a strong note near 19450 zone with sentiment once again turning positive. A decisive breach above the 19550 zone shall establish a strong conviction for further upward movement and can anticipate to re-test around the 20000 landmark once again in the coming days." "Bank Nifty also gave a decent pullback from the 43800 zone to touch the 44500 levels during the intraday session improving the bias and can anticipate for further gains with majority of the frontline banking stocks showing reversal in their trend.
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