Vaishali Parekh recommends 3 Stocks to Buy Today - March 28
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