Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 4
Buy or sell stocks for today: Following weak global market cues, Indian stock market ended lower on Tuesday. Nifty 50 index lost 109 points and closed at 19,528 levels, BSE Sensex shed 316 points and ended at 65,512 mark whereas Bank Nifty index finished 185 points lower at 44,399 levels.
Small-cap index ended 0.61 per cent in the positive even as the advance decline ratio ended at 0.87:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street sentiment remains cautious till Nifty is below 19,550 levels.
Prabhudas Lilladher expert went on to add that Nifty today has immediate support placed at 19,480 levels and the 50-stock index has taken major support at 19,200 levels after breaking below 19,550 levels. On stocks to buy today Vaishali Parekh recommended three intraday stocks — Titan Company, EIH and TV18 Broadcast.
On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty witnessed a weak opening session dragging down by more than 100 points to take support near 19,480 zone and recover to some extent with bias still maintained with a cautious approach. The index is hovering near the significant 50EMA zone of 19,550 levels and a decisive breach below 19,500 shall further weaken the trend with next level of 19,200 as the major support zone." "Bank Nifty also is hovering near 44,350 to 44,400 zone maintaining above the crucial support of 44,200 levels with overall trend precariously placed and a decisive breach below 44,200 shall turn the bias overall weak.
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