BUY OR SELL STOCKS
BUY OR SELL STOCKS : Indian Stock markets posted strong gains on Monday on strong global cues. The Nifty 50 index posted its biggest daily gain since December 4, 2023, while the other two major indices posted strong gains in the previous session. The Nifty 50 index surged 385 points and closed at a 21,737 level, the BSE Sensex shot up 1240 points and ended at the 71,941 mark whereas the Bank Nifty index finished 576 points higher at the 45,442 mark.
Intraday trading tips for Tuesday
Vaishali Parekh, vice president of technical research at Prabhudas Lilladar, believes that the Nifty 50 index is in a strong resistance zone. Expert Prabhudas Lilladher believes that the Nifty 50 should clearly cross the 21,700 mark to propel the uptrend on Dalal Street.Vaishali Parekh went on to add that the Bank Nifty index needs to breach its crucial hurdle placed at 46,300 for scaling further upside.
On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — NCL Industries, SeQuent, and BLS International.
Stock Market today
Commenting on the Nifty 50 outlook today, Vaishali Parekh said, “After a positive opening, the Nifty posted strong gains. The day progressed on the back of strong results from RIL, supported by a strong 7 points. The index would now have the crucial barrier zone of 21,750 levels which needs to be breached to expect for retesting the all-time high level of 22,124 zone.”
“Bank Nifty has regained from near the significant 200 period MA of 44700 zone and gained by more than 500 points to close above the important 100 period MA of 45350 level. As mentioned earlier, the index would need a decisive breach above the important hurdle at the 46300 zone of the significant 50EMA level for the overall bias to improve,” said Parekh.
Parekh also added that Nifty’s immediate support today is at 21600 while resistance will be at 21900. The daily range of Bank Nifty will be between 45,000 and 45,900 levels.
Stocks to buy today
1] NCL Industries: Buy at ₹234, target ₹242, stop loss ₹228;
2] SeQuent: Buy at ₹139.55, target ₹147, stop loss ₹136; and
3] BLS International: Buy at ₹401.60, target ₹418, stop loss ₹394.
Also read https://indiabreaking.com/hdfc-bank-shares/
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