Buy or sell stock: Extending roller-coaster trend on Thursday, Adani stocks continue to weigh on Nifty and other key benchmark indices. NSE Nifty ended 5 points down at 17,610 while BSE Sensex surged 224 points and finished at 59,932 levels. Bank Nifty index gained 156 points and ended at 40,669 mark.
However, broad markets outperformed Nifty and Sensex as small-cap index added 0. 36 per cent while went up to the tune of 0. 21 per cent on Thursday.
Intraday trading strategy for Friday Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that bullish or bearing trend can be ascertained only when the 50-stock index Nifty breaks either side of its range 17,500 to 17,650 in which it has been trading for last five sessions. Prabhudas Lilladher expert maintained that frontline banking stocks like Axis Bank , ICICI Bank, HDFC Bank, etc. shares are expected to remain in focus when market opens on Friday.
On stocks to buy today, Vaishali Parekh recommended three day trading stocks for today and those three intraday stocks are Hindustan Unilever Ltd or HUL, Cummins India and Kotak Mahindra Bank. TRENDING STORIES See All Premium Digi Yatra: Paperless entry at THESE 3 airports by this . .
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. Premium Microsoft introduces ChatGPT-powered Teams Premium “Nifty witnessed a slightly volatile session hovering between 17650 and 17500 zone with no clear directional move and once again closed near the 17,600 zone for 5th consecutive session. Bank Nifty also witnessed some fluctuations and the last hour pullback helped the index to close in the green near 40,650 zone,” Parekh said.
Vaishali Parekh of Prabhudas Lilladher went on to add that frontline banking stocks like Axis Bank, ICICI Bank , Kotak Bank and HDFC Bank looks promising and can expect for upward movement from current levels. On important pivot levels in regard to Nifty and Bank Nifty today, Vaishali Parekh said, “The overall bias and sentiment is maintained with a cautious approach and once again advisable to avoid for aggressive trading strategy till things settles down. The support for the day is seen at 17,450 while the resistance is seen at 17,750.
Bank Nifty would have the daily range of 40200-41200 levels. ” Intraday stocks for today As mentioned above, Vaishali Parekh has recommended two stocks to buy today, here we list out important details in regard to those day trading stocks: 1] HUL: Buy at ₹ 2634, target ₹ 2710, stop loss ₹ 2600; 2] Cummins India: Buy at ₹ 1449, target ₹ 1485, stop loss ₹ 1430; and MINT PREMIUM See All Premium Adani Group stocks selloff – 10 things you need to know Premium Costly wheat and the cloud over our daily bread Premium Data recap: Massive capex push, Adani FPO Premium Adani stock rout tops $111 bn in six sessions 3] Kotak Mahindra Bank: Buy at ₹ 1761, target ₹ 1810, stop loss ₹ 1740. 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. ABOUT THE AUTHOR Asit Manohar Chief Content Producer at Live Mint Digital Team Read more from this author Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach. Take the test Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint.
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