Buy or sell: Vaishali Parekh recommends three intraday trading stocks for today — October 26

livemint.com:

Buy or sell stocks for today: On account of uncertainties associated with the Israel-Hamas, strong US dollar and rising US Treasury yields, Indian stock market continue to remain under the grip of bears for fifth straight session on Wednesday. Nifty 50 index lost 159 points and closed at 19,122 levels, BSE Sensex corrected 522 points and ended at 64,049 mark whereas Bank Nifty index nosedived 319 points and closed at 42,832 levels.

Broad market indices fell largely in line with the Nifty even as the advance decline ratio fell to 0.14:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that market bias has turned weak as Nifty 50 index has breached its crucial 19,200 support on closing basis.

Prabhudas Lilladher expert went on to add that net major support for Nifty today is 18,800 to 18,600 levels. On stocks to buy or sell today, Vaishali Parekh recommended three intraday stocks for today — HBL Power, Century Text and RBL Bank.

On outlook for Nifty today, Vaishali Parekh said, "Nifty plunged heavily with profit booking witnessed and extended the losses from the previous session breaching below the crucial 19,200 zone during the intraday session further weakening the bias and sentiment overall. As mentioned earlier, a breach below 19,200 zone shall trigger for intensified selling pressure with next major support maintained near 18,800 to 18,600 levels near the 200 period MA." "Bank Nifty slipped further below the significant 200 period MA of 43,200 zone weakening the trend and is precariously placed with most of the frontline banking stocks shedding their gains gradually.