Intraday trading strategy for Wednesday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty is facing tough resistance at 18,200 to 18,250 zone. Prabhudas Lilladher expert anticipated further fluctuation in the markets as all eyes are now set on the Union Budget 2023 outcome. Asked about stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three stocks are Can Fin Homes, Tata Motors and HDFC.
Unveiling intraday trading tips for Wednesday, Vaishali Parekh said, "Nifty once again after opening on a positive note near 18200 zone slipped down gradually to close flat with tough resistance witnessed near the 18,200 to 18,250 zone as of now. Now with all eyes focussed mainly on the Budget outcome, we find and anticipates further fluctuations in the market during the intraday session with 18,000 and 17,800 levels maintained as the important and crucial support zones."
"Bank Nifty witnessed a resistance near the 43000 zone once again and slipped gradually to close near the 42,700 levels with HDFC Bank going strong and anticipated for further upward move in the coming sessions. Bank Nifty would have the significant level of 41,600 to 41,700 as the important support zone as of now which it has been maintaining for the time being," Parekh added.
Vaishali Parekh of Prabhudas Lilladher said that support for Nifty is placed at 18,000 while the resistance is seen at 18,250 levels. Bank Nifty would have the daily range of 42,300 to 43,200 levels.
Intraday stocks to buy today
As mentioned above, Vaishali Parekh of Prabhudas Lilladher has recommended three stocks to buy today, here we list out full details in regard to those day trading stocks:
1] Can Fin Homes: Buy at ₹563, target ₹583, stop loss ₹554;
2] Tata Motors: Buy at ₹422, target ₹436, stop loss ₹416; and
3] HDFC: Buy at ₹2775, target ₹2840, stop loss ₹2742.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
