Buy or sell: Vaishali Parekh recommends 3 stocks to buy today – March 18

Buy and sell stocks: Indian stock markets ended lower on Friday after the US PPI came in better than expected due to weak global indicators. The Nifty 50 index fell 123 points but managed to close above the 22,000 level. The BSE Sensex index ended 453 points lower at 72,643 levels and the Bank Nifty index ended 195 points south at 46,594 levels. However, there was strong buying interest in small- and mid-cap stocks as the overall market rebounded sharply before the end of trading at the weekend.

Monday intraday trading tips

Vaishali Parekh, vice president of technology research at Prabhudas Lilladher, believes that the bias in the Indian stock market has become cautious. Prabhudas Liladhar expert further added that the Nifty 50 index has important support at 21,900-21,850 levels. Vaishali Parekh further added that the 50-stock index is in the 21,850-22,300 zone and a break on either side of this range assumes a bullish or bearish trend. On stocks to buy today, Vaishali Parekh recommended three stocks to buy or sell today: Jindal Soh, GNFC and Godrej Properties.

Also read: Stock market today: Biocon, RBL Bank, Sail are among 11 stocks included in F&O ban list for Monday – March 18

stock market today

Commenting on the outlook for the Nifty 50 index, Vaishali Parekh said, “The Nifty 50 index has fallen from the 22,500 zone this week and maintained support around the 21,900 level with a slightly more cautious bias.This trend is likely to remain unchanged for as long as it continues. ” he said. The important 50 EMA zone at the 21,850 level is holding for now, and a decisive move above the 22,300 zone would improve the bias to some extent. ”

“The Bank Nifty index witnessed erosion this week, hovering just below the critical 50 EMA level, 46,600 level, slightly weakening the bias with the next major support at 46,000 level, the 100-period moving average. A decisive break above the 47,300 zone is needed to improve the situation.”There is an overall bias and further upside is expected,” Parekh said.

Also read: Dividend Paying Stocks Oil India Stock Price After Dividend

Parekh went on to add that the immediate support for Nifty today lies at the 21,850 level, while resistance would lie at the 22,200 level. For Bank Nifty, the daily range is between 46,000 and 47,200 levels.

1]Jindaruso: buy at INR435.45, target INR457, stop loss INR426;

2]GNFC: buy at INR626.50, target INR657, stop loss INR614; and

3]Godrej properties: buy at INR2218, target INR2300, stop loss INR2175.

Disclaimer: The views and recommendations expressed above are those of individual analysts, experts, and brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.