Buy or sell: Vaishali Parekh recommends two stocks to buy today — Oct 13

Buy or sell stocks for today: After showing weakness on three successive sessions, Indian stock market shifted into a sustainable upside bounce amidst volatility on Wednesday and closed in positive territory. Nifty 50 index finished 140 points higher at 17,123 whereas BSE Sensex shot up 478 points and closed at 57,625 levels. Nifty Bank index ended 406 points higher at 39,118 mark.

Vaishali Parekh's recommendations

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that pull back rally has brought cheer on Dalal Street but a decisive move above 17,250 would further improve the market bias. Vaishali Parekh of Prabhudas Lilladher recommended two stocks to buy today and those two stocks are Shriram Transport Finance and Pidilite Industries.

Vaishali Parekh's day trading strategies

On intraday trading tips, Vaishali Parekh of Prabhudas Lilladher said, "Nifty witnessed a pullback from the 200DMA level of 17000 zone to slightly bring some cheer to the market players and further a decisive move past 17250 would improve the bias to anticipate for further upward move in the coming days."

Prabhudas Lilladher expert went on to add that Bank Nifty has been maintaining a strong support near 38500 zone and again recovering decently has indicated improved bias with frontline banking stocks like Axis Bank, Kotak Bank, SBI and IndusInd Bank looking good for further rise.

"Nifty overall is hovering between the range of 17300 and 16800 levels with a cautious approach and one need to wait and watch for further developments to establish some clarity and conviction about the trend. The support for the day is seen at 17000 while the resistance would be 17300. Bank Nifty would have the daily range of 38600-39600 levels," said Parekh.

Stocks to buy today

As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended two shares to buy today. 

Here we list out details in regard to Vaishali Parekh's stock recommendations:

1] Shriram Transport Finance: Buy at ₹1212, target ₹1252, stop loss ₹1195; and

2] Pidilite Industries: Buy at ₹2655, target ₹2725, stop loss ₹2610.

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