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Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 20


Buy or sell stocks for today: After a range bound trade during the day, the Indian stock market ended lower on Friday last week. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 marks and Bank Nifty index corrected 577 points and ended at 43,583 levels. After remaining net buyers for two straight sessions, FIIs turned net sellers again in the previous session.

Also read: Dividend stocks: Anupam Rasayan, Aurobindo Pharma, Cochin Shipyard, 7 more shares to trade ex-dividend today

Intraday trading tips for Monday

Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes Nifty 50 is facing a hurdle near 19,800 to 19,850 zone. Expert Prabhudas Lilladher said the Nifty 50 index could go up to 20,000 to 20,200 levels once this hurdle is overcome decisively. In terms of buying stocks today, Vaishali Parekh recommended three intraday stocks for today – IRFC, McDowellm – N or United Spirits and Syngene International.

Also read: Buy or sell: Sumeet Bagadia recommends buying three stocks this week

Regarding Nifty today, Vaishali Parekh said, “Nifty again after opening on a flat note could not find a breach above the 19,800 resistance zone and gradually slipped further to end in the red near 19,750 levels with overall bias still kept positive. Near 19,800 to 19,850 zone is a tough barrier that needs to be overcome to establish some conviction and advance further to the next higher targets of 20,000 to 20,200 levels.”

Also read: F&O Ban List: India Cements, MCX, ZEEL, 5 others banned in futures & options for November 20

“Bank Nifty saw a plunge with a tendency to turn weak, opening with a huge gap down and slipped further as the day progressed to indicate bearishness among the banking stocks and ended in the red near the 43,600 zone. The index has found the next important support zone near the 43,300 zone of the 200 MA period and a decisive breach below will further weaken the trend,” said Parekh.

Parekh further said that immediate support for Nifty 50 today is placed at 19,600 and resistance is seen at 19,850 levels.

As mentioned above, Vaishali Parekh has recommended three stocks to buy today, here we list the complete details of those intraday trading stocks:

1]IRFC: Buy at 76.90, target 82, stop loss 75;

2]McDowell – N or United Spirits: Buy at 1056, goal 1110. stop loss 1036; and

3]Syngene International: Buy at 734.25, goal 757, stop loss 722.

Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 20 November 2023, 06:49 AM IST

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