Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Sept 23


Buy or sell stocks for today: Following weak global cues on rising dollar index, Indian stock market ended in negative territory on second straight session on Thursday. NSE Nifty finished 88 points lower at 17,629 levels whereas BSE Sensex slashed 337 points and closed at 59,119 mark. Bank Nifty index nosedived 572 points and closed at 40,630 levels. Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that market is rangebound but overall outlook is positive.

Vaishali Parekh’s recommendations

Vaishali Parekh of Prabhudas Lilladher believes that intraday traders should maintain ‘buy on dips’ strategy till either side of the range is breached. On buy or sell stocks for today, Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today. Those two stocks are Titan Company and Hindustan Unilever.

Prabhudas Lilladher analyst said that Nifty witnessed another volatile session swinging between 17,700 and 17,540 levels with bias overall maintained cautiously positive and need to watch and wait for further developments to settle down. As said earlier, Nifty has the crucial support of 17,300 levels while on the upper side need to breach decisively 17,800 zone for the bias to turn positive and established some conviction.

Vaishali Parekh went on to add, “Bank Nifty also has the crucial support zone near 40,000 levels while 41,600 levels on the upper side is the resistance barrier which need to be crossed for continuation of further upward move. The overall bias and sentiment as of now would be maintained with a cautious approach with volatility expected at regular intervals. However, the support for the day is seen at 17,500 while the resistance is seen at 17,750. Bank Nifty would have the daily range of 40200-41100 levels.”

Vaishali Parekh’s shares to buy today

As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today and those two stocks are Titan Company and Hindustan Unilever. Here we list out important details in regard to these stock recommendations by Vaishali Parekh:

1] Titan Company: Buy at 2737, target 2830, stop loss 2690; and

2] Hindustan Unilever: Buy at 2692, target 2770, stop loss 2650.

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

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