Buy or sell shares for today: Due to HDFC twins stock rebalancing by financial index provider MSCI, the Indian stock market declined heavily on Friday. All major benchmark indices closed with losses in the weekend session. The BSE Sensex lost 1.13 per cent, while the NSE Nifty went down 1.02 per cent. However, the Bank Nifty index lost 2.34 per cent. In the last session of last week, the Midcap index lost 0.50 per cent in the broad markets, while the Smallcap index lost 0.39 per cent.
intraday trading strategy for monday
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher believes that NSE Nifty is still above the important support area of 18,050 levels, but a decisive breach below this area will invite further heavy selling. Prabhudas Lilladher expert said that a close below 18,050 for Nifty will result in a significant weakness in Dalal Street sentiment. On stocks to buy today, Vaishali Parekh recommends three intraday stocks for today and they are three day trading stocks Exide Industries, Ashok Leyland and SBI Life.
On today’s outlook for Nifty, Vaishali Parekh said, “Nifty has witnessed a weak opening and has once again reclaimed the important support area of 18,050 levels and a decisive breach below this area will call for further heavy selling.” Will invite, very weak expected with a bias to target on the downside. 17,800 in the worst case.”
“Bank Nifty has also broken 43000 area with bias and is weakening further and has taken next major support area near 42,000 level. The overall bias and sentiment has again turned very cautious and the indices are uncertain has been held since and will require some decent pullbacks to improve.” prejudice. Support for the week is seen at 60000/17700 (Sensex/Nifty) while resistance is seen at 61800/18400 levels,” said Vaishali Parekh.
Parekh added that bank smelly There will be a weekly range of 41,500-43,800 levels.
stocks to buy today
As mentioned above Vaishali Parekh recommended three day trading stocks for today, here we list down the important details regarding those intraday stocks:
1]Exide Industries: buy on 187, target 200, stop loss 182;
2]Ashok Leyland: buy on 144, target 155, Stop Loss 140; And
3]SBI Life: buy on 1173, target 1250, stop loss 1140.
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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