Buy or sell: Ashok Leyland to ITC — Vaishali Parekh recommends three stocks to buy today — April 8

Buy or sell stocks for today: The Indian stock market ended flat on Friday after a weak opening. The Nifty 50 index finished marginally lower at the 22,513 level, the BSE Sensex added 20 points and closed at the 74,248 mark while the Bank Nifty index gained 432 points and finished at the 48,493 level. In the broad market, the small-cap and mid-cap indices finished 0.50 percent higher on the last session of the previous week.

Intraday trading tips for Monday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index is in the 22,300 to 22,550 range. The Prabhudas Lilladher expert went on to add that a bullish or bearish trend on Dalal Street can be assumed on breakage of either side of the range. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks — ITC, Ashok Leyland, and GNFC.

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Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index has been hovering within a tight range between the 22,300 and 22550 during this week with bias maintained positive and sentiment improving to some extent to anticipate for further rise in the coming days. The index would need to decisively breach above the 22,550 zone to establish conviction for further upward move having targets of 22,800 and 23,200 levels in the coming days."

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"The Bank Nifty index outperformed the Nifty 50 index during the week breaching above the previous peak zone of 48,160 levels and is almost on the verge of retesting the all-time high of 48,636 levels in the coming days. Once confirmation is established, the index would have the next target of 49,800 levels with most of the frontline banking stocks looking well poised for the pickup," said Parekh.

Parekh went on to add that Nifty today has immediate support placed at 22,100 levels while the resistance would be seen at 22,900 levels. The Bank Nifty index would have a weekly range of 47,200 to 49,800 levels.

Stocks to buy today

1] ITC: Buy at ₹427.55, target ₹446, stop loss ₹418;

2] Ashok Leyland: Buy at ₹176, target ₹183, stop loss ₹172; and

3] GNFC: Buy at ₹707.65, target ₹740, stop loss ₹692.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.