Buy or sell stocks: Extending the roller-coaster trend on Thursday, Adani shares continued to weigh on Nifty and other major benchmark indices. The NSE Nifty closed at 17,610, down 5 points, while the BSE Sensex closed at 59,932, up 224 points. The Bank Nifty index closed at 40,669 points with a gain of 156 points. However, the broader markets outperformed the Nifty and Sensex as the small-cap index rose 0.36 per cent, compared to 0.21 per cent on Thursday.
intraday trading strategy for friday
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher believes that a bullish or bearish trend can be detected only if the 50-stock index Nifty breaks either side of its 17,500 to 17,650 range, in which it was in the past Has been trading for five seasons. Prabhudas Lilladher likes frontline banking stocks, says expert axis BankICICI Bank, HDFC Banks etc. are expected to remain in focus when the market opens on Friday. On stocks to buy today, Vaishali Parekh recommends three day trading stocks for today and those three intraday stocks are Hindustan Unilever Limited or HUL, Cummins India and Kotak Mahindra Bank.
“Nifty saw a slightly volatile session between 17650 and 17500 zones with no clear directional move and once again closed near 17,600 zone for the 5th consecutive session. Bank Nifty also saw some volatility and last The hourly pullback helped the index close in the green near the 40,650 area,” Parekh said.
Vaishali Parekh of Prabhudas Lilladher added frontline banking stocks like Axis Bank. ICICI BankKotak Bank and HDFC Bank look promising and can expect further upside from current levels.
On important pivot levels of Nifty and Bank Nifty today, Vaishali Parekh said, “The overall bias and sentiment is maintained with a cautious outlook and once again it is advised to take aggressive trading till things settle down.” Avoid strategy is advised. Support for the day is seen at 17,450 while resistance is seen at 17,750. smelly 40200-41200 levels will be the daily range.”
intraday stock for today
As mentioned above, Vaishali Parekh has recommended two stocks to buy today, here we list the important details regarding the stocks that traded on those days:
1]HUL: buy on 2634, target 2710 stop loss 2600;
2]Cummins India: buy on 1449, target 1485 stop loss 1430; And
3]Kotak Mahindra Bank: buy on 1761, target 1810 stop loss 1740.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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