Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 15
Buy or sell stocks for today: Despite weak US economic data and slowdown concerns, Indian stock market finished higher on Friday.
Nifty 50 index gained 17 points and closed at 18,314 levels, 30-stock index BSE Sensex ascended 123 points and closed at 62,027 levels whereas Nifty Bank went up up 318 points and ended at 43,793 mark.
In broad market, mid-cap index lost 0.33 per cent while small-cap index ended marginally lower after finishing near 25 points lower.
Intraday trading strategy for Monday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty has taken strength at 18,300 level and a decisive move above 18,350 would trigger fresh upward movement in the 50-stock index. Prabhudas Lilladher expert went on to add that most of the frontline banks like Axis Bank, ICICI Bank, HDFC Bank and SBI well placed and anticipated for further gains.
On intraday stocks for today, Vaishali Parekh recommended three day trading stocks to buy today and those three shares are Mahindra CIE, Delta Corp and Harsha Engineers.
On outlook for Nifty today, Vaishali Parekh said, “Nifty has consolidated quite significantly near the 18,300 zone for some time as of now indicating strength turning up the daily trend and a decisive move past the 18,350 zone would trigger for further fresh upward movement in the coming days.
As said earlier, the zone near 18200 is the strong support maintained and with most of the frontline stocks well placed with positive bias and trend maintained, further rise is anticipated.”
Parekh went on to add that Bank Nifty also has slowly and gradually moved past the previous peak 43,700 to 43,750 zone to show improvement in the bias and trend with most of the blue-chip banking stocks like Axis Bank, ICICI Bank, HDFC Bank and SBI well placed and anticipated for further gains.
‘For the index the major support zone would be 42,700 levels and upside a decisive breach above 44,200 would enter into a new territory.
The 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 43,400 to 44,200 levels,” Parekh said.
Stocks to buy today
As mentioned above, Vaishali Parekh has recommended three buy or sell stocks for today, here we list out important details in regard to those day trading stocks:
1] Mahindra CIE: Buy at ₹437, target ₹457, stop loss ₹427;
2] Delta Corp: Buy at ₹217.50, target ₹225, stop loss ₹214; and
3] Harsha Engineers: Buy at ₹458, target ₹482, stop loss ₹450.
Bylivemint
