Buy or Sell: Vaishali Parekh Recommends 2 Stocks to Buy Today — October 10

Buy or sell stocks for today: Due to strong global signals, the Indian stock market finished higher over the past week. NSE Nifty ended with a weekly gain of 1.29% at 17,314 while BSE Sensex closed at 58,191, posting a weekly gain of 1.33% last week. Bank Nifty also posted a weekly gain of 1.41% and closed at 39,178 levels. In US markets, Wall Street fell sharply after strong US jobs data for the month of September 2022. These strong US jobs data fueled speculation about the US Fed and the rise in interest rates from other central banks, putting a brake on the rise of the dollar index.

Vaishali Parekh’s Recommendations

Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher, believes that the market should maintain its positive bias until Nifty breaks above 17,200 levels. Prabhudas Lilladher’s Vaishali Parekh said Nifty falling below 17,200 would mean the bias would turn weak and head towards 16,800-16,700 levels. She advised to buy two stocks today and these two stocks are Ashok Leyland and Ambuja Cement.

Day Trading Strategies for the Stock Market Today

Speaking on the technical outlook for Nifty, Vaishali Parekh said, “Nifty faced some resistance near the 17,400 area and witnessed a short dip with profit booking that hovered near the significant 50EMA level of 17,270 and closed just above the 17,300 levels to maintain the positive bias said earlier, the 17,200 to 17,250 levels must be maintained in the next few days to maintain the failing positive trend , which would weaken the bias and continue to slide towards the 16,700-16,800 levels would be opened again.”

Expert Prabhudas Lilladher added that Bank Nifty also hovered near the 39,000 area for most of the session, but in the final hours momentum improved to close near the 39,200 area. with a positive bias. With an anticipated consolidation phase in the indices, support for the day is seen at 17,200 while resistance is seen at 17,450 levels. Bank Nifty would have the daily range of 38,700 to 39,700 levels.

Buy or sell stocks for today

As mentioned above, Prabhudas Lilladher’s Vaishali Parekh recommended two stocks to buy today and these two stocks are Ashok Leyland and Ambuja Cement.

Here we list the important details regarding Vaishali Parekh stock recommendations:

1]Ashok Leyland: Will buy 159.50 target 165, stop loss 157; and

2]Ambuja Cement: Will buy 521.50 target 535, stop loss 514.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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