Daily Stock Market News

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — 18th November

Buy or sell stocks for today: After showing an upside recovery from the intraday lows in later part of the sessions in the last few sessions, Dalal Street witnessed sharp weakness from the intraday highs on Thursday and closed the day in negative zone, snapping its two days winning streak. 50-stock Nifty index lost 65 points and closed at 18,343, 30-stcok BSE Sensex corrected 230 points and ended at 61,750 while Nifty Bank index went off 77 points and closed at 42,458 levels.

Stock market today: Intraday trading strategy for Friday

Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that markets attempts to defend the upside momentum looks promising, though some sideways consolidation may be witnessed over some sessions to come. Vaishali Parekh of Prabhudas Lilladher said that overall sentiment and bias are maintained with a slight cautious approach. On intraday stocks for today, Prabhudas Lilladher recommended two Tata group stocks and those two shares are Indian Hotels Company and Tata Consumer Products.

“The overall sentiment and bias are maintained with a slight cautious approach and however, the support for the day is seen at 18,200 while the resistance is seen at 18,450 levels. Bank Nifty would have the daily range of 42,000 to 43,000 levels,” said Vaishali Parekh adding, “Nifty has been witnessing a resistance barrier near 18,400 zone hovering within a very narrow range with 18,250 as the near term support zone and with some profit booking witnessed at the end of the session has turned down the daily trend after 4 days to make the bias little bit cautious.”

SBI, Kotak Mahindra Bank, ICICI Bank, Axis Bank looks promising

On Banking sector stocks, Vaishali Parekh said that Bank Nifty has overall maintained the trend but currently is having a sluggish move with frontline banking stocks like ICICI Bank, Axis Bank, Kotak Bank and SBI maintained with their levels.

Intraday stocks for today

As mentioned above, Vaishali Parekh has recommended two Tata group stocks to buy today. Here we list out full details in regard to those day trading stocks:

1] Tata Consumer Products: Buy at 786, target 808, stop loss 773; and

2] Indian Hotels Company: Buy at 315, target 327, stop loss 311.

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

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