Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 11
Buy or sell stocks for today: Ahead of crucial US inflation data release, Indian stocks market finished higher on third day in a row. 50-stock index Nifty ended 49 points higher at 18,315 levels while 30-stock index BSE Sensex ascended 178 points and closed at 61,940 mark. Nifty Bank index added 132 points closed at 43,331 mark. In borad market, small-cap index ascended 0.33 per cent while mid-cap index went up 0.34 per cent.
Intraday trading strategy for Thursday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that upside trend on Dalal Street is still intact. Prabhudas Lilladher expert went on to add that once Bank Nifty decisively sustains above 43,700 to 43,800 levels, fresh upward momentum would be triggered. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three day trading stocks and those intraday stocks for today are DCAL, GAIL and HAL.
On outlook for Nifty today, Vaishali Parekh said, “Nifty witnessing a slightly volatile session ended the day near 18,300 zone with most of the frontline stocks moving sideways maintaining their trend intact. As said earlier, Nifty index has the next important hurdle of 18,350-18,400 levels on the upside whereas downside 18,200 would be maintained as the crucial support zone and would need to wait and watch for further developments.”
“Bank Nifty witnessed resistance near the 43350 zone during the session and with 42500 levels maintained as the important support zone, one need to check for the 43700-43800 levels above which the upward momentum would be triggered for fresh movement in the coming days,” said Parekh.
Parekh went on to add that support for the day is seen at 18,200 levels while the resistance is seen at 18,450 levels. Bank Nifty would have the daily range of 42,800-43,700 levels.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three day trading stocks for today, here we list out full details in regard to those intraday stocks:
1] DCAL: Buy at ₹124, target ₹132, stop loss ₹121;
2] GAIL: Buy at ₹109, target ₹115, stop loss ₹107; and
3] HAL: Buy at ₹2954, target ₹3070, stop loss ₹2910.
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 decisions.
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