Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 18
Buy or sell stocks for today: On account of strong global market sentiments, Indian stock market ended higher for seventh week in a row on Friday last week. Nifty 50 index logged weekly gain of 2.30 per cent last week and closed at 21,456 levels after climbing to a new high of 21,492.
BSE Sensex logged weekly gain of 2.18 per cent and ended at 71,483 levels after hitting a new high of 71,605 on Friday. Nifty Bank index registered 1.85 per cent weekly gain and finished at 48,143 levels after climbing to a new peak of 48,219 on last session of the previous week.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall market sentiment is bullish and Nifty 50 index is in overbought zone and some cooling off can't be denied. Also Read: Day trading guide for stock market today: Six stocks to buy or sell on Monday However, Prabhudas Lilladher expert maintained that even if profit booking triggers 21,200 may remain a sacrosanct support for the 50-stock index.
Vaishali Parekh went on to add that in case of profit booking trigger, one should take 21,200 support as good buying opportunity. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those day trading stocks are Aarti Industries, Federal Bank and Tinaplate.
On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty witnessed another day of significant gain of 274 points with Bulls taking full control almost touching the 21,500 zone making new record high once again with most of the frontline heavyweights especially IT giants leading the rally. With the index going strong further rise is anticipated in the coming days, however, with the indicators hovering near the highly oversold zone some cooling
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