Vaishali Parekh recommends 3 Stocks to Buy Today - March 28
Are you looking for profitable intraday trading options? Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, has recommended three stocks to buy today: PFC, GAIL, and Godrej Consumer Products. Read on to find out more about these day trading stocks.
Overview
Dalal Street witnessed two successive days of losses before finishing higher on Monday. The Nifty gained 40 points and closed at 16,985 levels, while the Sensex surged 126 points and closed at the 57,653 mark. The Bank Nifty index also appreciated 35 points and ended at 39,431 levels.
According to Vaishali Parekh, the Nifty is currently trading in a tight range of 16,800 to 17,200, and the bullish or bearish trend can be assumed on the breakage of either side of this range. The overall bias is cautious as the Bank Nifty is also struggling to break through the tough resistance seen near the 39,700 level.
Intraday Trading Strategy
Vaishali Parekh believes that the Nifty would desperately need a decisive breach on either side of the tight range to confirm the trend. The Bank Nifty is struggling to break through the tough resistance near the 39,700 level, with the downside near 38,800 acting as an important support for the near-term time frame.
The intraday support for the Sensex and Nifty is placed at 57,000/16,850, while the resistance is at 58,200/17,150. The Bank Nifty would have a daily range of 38,800–40,100.
Stocks to Buy Today
Vaishali Parekh has recommended three intraday stocks for today:
1. Power Finance Corporation or PFC
Buy at ₹149
Target ₹156
Stop loss ₹145
2. GAIL
Buy at ₹104
Target ₹110
Stop loss ₹100
3. Godrej Consumer Products
Buy at ₹961
Target ₹1000
Stop loss ₹940
Conclusion
In conclusion, the stock market can be unpredictable and volatile, and it is important to make informed decisions when investing. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, has recommended three intraday stocks for today - PFC, GAIL, and Godrej Consumer Products - based on her analysis and outlook for the market. As with any investment, it is important to do your own research and consult with certified experts before making any decisions.
Furthermore, it is important to keep in mind the risks associated with intraday trading and to have a sound understanding of the market before engaging in it. It is also essential to set realistic expectations and have a well-defined strategy to manage risk and maximize potential profits.
Investors should always approach the market with a long-term perspective and avoid making impulsive decisions based on short-term market movements. By staying informed, doing thorough research, and exercising caution, investors can make informed decisions and navigate the stock market successfully.
FAQS
Q: Who is Vaishali Parekh?
A: Vaishali Parekh is the Vice President of Technical Research at Prabhudas Lilladher. She is an expert in the field of technical analysis and provides insights and recommendations for the stock market.
Q: What are intraday stocks?
A: Intraday stocks are those stocks that are bought and sold within the same trading day. These stocks are bought with the intention of making a profit from short-term price fluctuations.
Q: What is Prabhudas Lilladher?
A: Prabhudas Lilladher is a financial services company that offers a wide range of services including equity and commodity broking, wealth management, investment banking, and corporate advisory services. The company is headquartered in Mumbai, India.
Q: What is the Nifty?
A: The Nifty is a benchmark stock market index in India that represents the performance of 50 of the largest and most liquid companies listed on the National Stock Exchange (NSE).
Q: What is the Sensex?
A: The Sensex is a benchmark stock market index in India that represents the performance of 30 of the largest and most financially sound companies listed on the Bombay Stock Exchange (BSE).
Q: What is Bank Nifty?
A: Bank Nifty is a benchmark stock market index in India that represents the performance of the banking sector. It consists of the most liquid and financially sound banking stocks listed on the National Stock Exchange (NSE).
Q: What is a resistance level?
A: A resistance level is a price point in the stock market where the supply of a particular stock exceeds the demand, causing the price to stop increasing and potentially reverse direction.
Q: What is a support level?
A: A support level is a price point in the stock market where the demand for a particular stock exceeds the supply, causing the price to stop decreasing and potentially reverse direction.
Q: What is a stop-loss order?
A: A stop-loss order is an order placed by an investor to sell a stock when it reaches a certain price point in order to limit potential losses.
Q: What is a target price?
A: A target price is a predicted future price for a particular stock based on various factors such as market trends, company performance, and industry analysis.
Q: What is the 200 DMA?
A: The 200 DMA (day moving average) is a technical indicator used by traders and investors to analyze the performance of a particular stock over a period of 200 days.
Q: What is meant by "buy" in the context of intraday trading?
A: "Buy" refers to the act of purchasing a particular stock with the expectation of selling it later at a higher price, thus making a profit.
Q: What is meant by "sell" in the context of intraday trading?
A: "Sell" refers to the act of selling a particular stock with the expectation of buying it back later at a lower price, thus making a profit.
Q: What is a sound investment strategy for the stock market?
A: A sound investment strategy for the stock market involves thorough research, diversification, and a long-term perspective. It is important to have a well-defined investment plan and to exercise caution when making investment decisions.
Q: What is the importance of consulting with certified experts before making investment decisions?
A: Consulting with certified experts can provide valuable insights and information to help investors make informed decisions. Experts can provide analysis and recommendations based on market trends, company performance, and industry analysis, which can help investors make sound investment decisions.
