Daily Stock Market News

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — 17th November

Buy or sell stocks for today: Trading sideways throughout the day, Dalal Street finally managed to finish in positive zone. 50-stock index Nifty ended 6 points up at 18,409, 30-stock index BSE Sensex shot up 107 points and finished at 61,980 while Nifty Bank index ended 162 points north at 42,535 mark. Bank, IT and tech stocks continue to attract market bulls whereas bears outperformed bulls in metal, power, realty, oil and gas and energy segments.

Stock market today: Intraday trading strategy

Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that overall bias on Dalal Street is positive but key benchmark indices are facing resistance as they are close to their peak levels. Vaishali Parekh of Prabhudas Lilladher went on to add that HDFC Bank and Kotak Bank may continue to attract buying interest in near term. On intraday stocks for today, Vaishali Parekh recommended two stocks to buy today and those two shares are Pidilite Industries and Castrol India.

On day trading strategy for Thursday session, Vaishali Parekh said, “The overall bias and sentiment is maintained positive and one can expect some resistance as we are nearing the peak zone of 18500-18600 levels. The support for the day is seen at 18300 while the resistance is seen at 18550. Bank Nifty would have the daily range of 42100-43000 levels.”

‘Kotak Bank, HDFC Bank shares looking attractive’

Vaishali Parekh of Prabhudas Lilladher went on to add that Nifty is slowly inching upwards but again witnessing some resistance near 18,400 zone and with heavyweights like Kotak Bank, HDFC Bank, Infosys and TCS beginning to witness some strong pullback to improve the bias but with some volatility seen in the second session closed the index on a flat note. Bank Nifty also witnessed a rangebound session between 42,400 and 42,600 levels with Kotak Bank and HDFC Bank looking attractive.

Intraday stocks for today

As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today, here we list out full details in regard to those buy or sell stocks:

1] Pidilite Industries: Buy at 2682 , target 2755, stop loss 2640; and

2] Castrol India: Buy at 129, target 135, stop loss 127.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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