Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — November 4

Buy or sell stocks for today: Following weak global sentiments, Dalal Street finished lower on second successive session on Thursday. Nifty 50 index went off 30 points and closed at 18,052, BSE Sensex lost 69 points and ended at 60,836 whereas Nifty Bank went up 151 points and closed at 41,298 levels. Amongst sectoral indices, the IT space corrected as it has been following the Nasdaq index and negative cues from the later does not bode well for the near term.

Stock market today: Day trading strategy for Friday

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that positive bias of the market is still intact. Vaishali Parekh of Prabhudas Lilladher maintained that both Nifty and Bank Nifty are sustaining above their crucial supports and hence bulls are expected to come in action soon. On intraday stocks for today, Vaishali Parekh recommended two stocks to buy today and those two stocks are Shriram Transport Finance and Can Fin Homes.

On day trading guide for today, Vaishali Parekh of Prabhudas Lilladher said, "Nifty witnessed a volatile session opening on a weak note and thereby recovering to have fluctuations hovering between the range of 18,000 and 18,100 levels for the rest part of the session maintaining above the psychological zone of 18,000. Bank Nifty also opened near 40,800 levels and with a decent recovery witnessed ended the session near 41,300 gaining 151 points and maintained the bias overall with 41,600 to 41,700 acting as the tough resistance for the time being."

Vaishali Parekh went on to add that the support for the day is seen at 17,950 while the resistance is seen at 18,200 levels. Bank Nifty would have the daily range of 40,900 to 41,800 levels.

Stocks to buy today

As mentioned above Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today, here we list out details in regard to Vaishali Parekh's stock recommendations for Friday session:

1] Shriram Transport Finance: Buy at ₹1240, target ₹1300, stop loss ₹1210; and

2] Can Fin Homes: Buy at ₹521, target ₹550, stop loss ₹508.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.