Buy or sell: Vaishali Parekh recommends three stocks to buy today

The 30-share BSE Sensex ended higher by 305.09 points or 0.42 per cent at 73,095.22 level while the Nifty 50 closed at 22,198.35 level, up 76.30 points or 0.34 per cent. On the broader market front, the Nifty Midcap 100 closed 0.12 per cent lower, and the Nifty SmallCap 100 closed 0.28 per cent higher.

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Investors have been focusing on important US and domestic economic data. The overall trend, according to analysts, is positive, with no negative developments anticipated for domestic markets and expectations that macroeconomic data points such as the gross domestic product (GDP) data will be in favour of markets and take markets to new highs in the coming days.

 

Intraday trading tips for Wednesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50’s overall bias has sustained strong and the index is expected to carry on with positive move for next targets of 22,400 and 22,800 levels anticipated in the coming days.

The Prabhudas Lilladher expert added that Bank Nifty’s near-term support is maintained near the 50EMA level of 46,200 zone and the index would need to breach above the 47,300 band to trigger for fresh upward move.

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today —CG Power & Industrial Solutions Ltd, Happiest Minds Technologies Ltd, and Castrol India Ltd.

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Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, ‘’Nifty as on now taking support near the 22,100 zone has picked up gradually with some volatility witnessed and ended the session near 22,200 zone with bias once again improving and anticipating for further rise in this week.” 

Parekh went on to add that the support for the day is seen at 22,100 level while the resistance would be seen at 22,400.

On Bank Nifty, Parekh said, ‘’Bank Nifty took support near 46,350 zone during the intraday session and ended on a flat note near 46,600 level.” According to Parekh, Bank Nifty would have the daily range of 46,300-47,000 levels.

Nifty Spot Index

Support – 22,100

Resistance – 22,400

Bank Nifty Spot Index

Support – 46,300

Resistance – 47,000

 

Stocks to buy today

1.CG Power & Industrial Solutions Ltd: Buy CG Power & Industrial Solutions at ₹439, Target ₹462, Stop Loss ₹428

2.Happiest Minds Technologies Ltd: Buy Happiest Minds Technologies Ltd at ₹872.65, Target ₹907, Stop Loss ₹853

3.Castrol India: Buy Castrol India at ₹205.20, Target ₹217, Stop Loss ₹200.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 28 Feb 2024, 06:09 AM IST