Daily Stock Market News

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — November 28


Buy or sell stocks for today: On account of shar rally in large-cap stocks mainly driven by banking, IT and PSU segment, key benchmark indices Sensex, Nifty and Bank Nifty climbed to record high last week. Apart from Monday, rest four sessions belonged to bulls as they managed to repair their damages caused after the Russia-Ukraine war. In the week gone by, NSE Nifty touched new high of 18,534, Sensex hit life-time high of 62,447 whereas Bank Nifty climbed to new high of 43,339 mark.

Day trading guide for stock market today

Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that 50-stock index Nifty is awaiting breakout at 18,600 levels. Prabhudas Lilladher said that overall bias on Dalal Street is still positive and expected further upside move in upcoming sessions. On intraday stocks for today, Vaishali Parekh of Prabhudas Lilladher recommended two day trading stocks to buy today and those two shares are Hero Motocorp and Tata Motors.

Speaking on intraday trading strategy, Vaishali Parekh said, “Nifty after the strong move witnessed a day before consolidated near the 18500 zone taking a breather awaiting the breakout above 18600 levels with overall bias maintained strong and anticipating for further rise in the coming days. Bank Nifty also witnessed some profit booking after the opening session and ended just below the 43000 level to take a breather with bias maintained positive and with upside targets wide open, further rise is anticipated.”

“With the major frontline stocks like Infosys, TCS and RIL well set with their levels and trend, there is high chances of Nifty index retesting the previous peak of 18600 in the coming sessions. The support for the day is seen at 18400 while the resistance is seen at 18650. Bank Nifty would have the daily range of 42500-43600 levels,” Parekh said.

Intraday stocks for today

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

1] Hero Motocorp: Buy at 2708, target 2780, stop loss 2670; and

2] Tata Motors: Buy at 433, target 445, stop loss 426.

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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