Buy or sell stocks for today: Domestic indices benchmark ended in the green with decent gains on Tuesday, November 21, including HDFC Bank and Reliance Industries, amid mixed global cues. Sensex ended at 65,930.77, up 276 points, or 0.42 percent, while Nifty 50 closed 89 points, or 0.45 percent, higher at 19,783.40. Mid and smallcaps also ended higher but they underperformed the benchmarks. The BSE Midcap index closed with a gain of 0.14 percent while the Smallcap index rose 0.20 percent.
Intraday trading tips for Wednesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty opened with a gap up slightly on a positive note and thereafter remained range bound with resistance witnessed near 19850 zone and closed in the green near 19800 levels with bias maintained positive.
As mentioned earlier, the index is hovering within a range between 19850 and 19600 zone for quite some time and would need a decisive breach on either side to confirm a clear directional move.
On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today Ashok Leyland, Engineers and VIP Inds.
Stock market today
“BankNifty also remained flat after opening in the green near 43700 zone and would need a decisive breach above 44000 of the significant 50EMA level to improve the bias overall,” Parekh said.
“As mentioned earlier, the index has got the important support zone near 43300 zone of the 200 period MA and a decisive breach below shall further weaken the trend to turn bearish. The support for the day is seen at 19650 while the resistance is seen at 19900. Bank Nifty would have a daily range of 43400–44000 levels,” she added.
Parekh went on to add that immediate support for Nifty is placed at 19,650 whereas resistance is seen at 19,900 levels. Bank Nifty would have a daily range of 43,400 to 44,000 levels.
Stocks to buy today
- Ashok Leyland: Buy at ₹178 | Stoploss ₹175 | Target ₹187
- ENGINEERS: Buy at 146.45 stoploss 143 Target 155
- VIP INDS: Buy at 633.35 stoploss 624 Target 667
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Updated: 22 Nov 2023, 06:20 AM IST