Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Oct 28

Buy or sell stocks for today: Post the mid-week holiday, Indian stock market opened higher and finished in positive territory on Thursday. Despite the in-between holidays, key benchmark indices at Dalal Street kept the trend intact and it continued to witness buying interest on intraday dips. NSE Nifty went up 80 points and closed at 17,736 while BSE Sensex shot up 212 points and closed at 59,756 levels. Nifty Bank index advanced 176 points at finished at 41,299 mark. Advance decline ratio remained in positive domain and ended at 1.23:1.

Intraday trading strategy for stock market today

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher believes that overall bias will remain positive till Nifty 50 index is trading above 17,600 mark. She said that Bank Nifty would have the daily range of 40,800 to 41,800 levels. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended two shares to buy today and those two shares are Tata Power and Shriram Transport Finance Company.

"Nifty once again after opening near the 17750 levels witnessed a gradual slide to hit the low near the 17650 zone once again and witnessed some volatile session at the fag end for the expiry game to close above the 17700 levels. Bank Nifty also witnessed a similar pattern resisting near the 41500 zone once again and remained almost rangebound for rest part of the session to end near 41300 levels gaining 176 points," she said.

Vaishali Parekh of Prabhudas Lilladher went on to add that the overall bias is maintained intact but with a cautious approach and as far as 17,600 level is maintained, the positive trend shall continue and can expect for further rise in the coming days. The support for the day is seen at 17,600 while the resistance is seen at 17,900 levels.

"Bank Nifty would have the daily range of 40,800 to 41,800 mark," she added.

Vaishali Parekh's stock recommendations

As mentioned earlier, Prabhudas Lilladher has recommended two stocks to buy today. Here we list out details in regard to those buy or sell stocks:

1] Tata Power: Buy at ₹225, target ₹238, stop loss ₹220;

2] Shriram Transport Finance: Buy at ₹1246, target ₹1270, stop loss ₹1228.

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