Vaishali Parekh advises investors to buy two equities today, October 10.

Buy or sell stocks of Vaishali Parekh today: The Indian stock market concluded the previous week higher due to strong global cues. While the BSE Sensex closed last week at 58,191, posting a 1.33 percent weekly gain, NSE Nifty ended the week with a weekly gain of 1.29 percent at 17,314 points. Additionally, Bank Nifty saw a 1.41 percent weekly rise and concluded at 39,178 points. After the positive US jobs report for the month of September 2022, Wall Street experienced a significant decline in the US markets. Strong US job data encouraged rumours that the US Fed and other central banks will raise interest rates, halting the rise in the dollar index.

Recommendations from Vaishali Parekh

Until the Nifty is above 17,200 levels, according to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, the market is anticipated to sustain its upward tilt. According to Prabhudas Lilladher’s Vaishali Parekh, if the Nifty fell below 17,200, the bias would weaken and move toward levels between 16,800 and 16,700. She suggested buying Ashok Leyland and Ambuja Cement as two equities to purchase today.

Day trading strategies for stock market today

Regarding the technical outlook for the Nifty, Vaishali Parekh said, “As a result of some resistance near the 17,400 zone, the Nifty experienced a brief dip. Profit taking was observed to be hovering close to the crucial 50EMA level of 17,270. Nifty then closed just above the 17,300 levels to maintain the positive bias. As was previously said, the levels of 17,200 to 17,250 must be maintained in the upcoming days in order to keep the positive trend going. If they are not, the bias will weaken and a further down to the levels of 16,700 to 16,800 will once again be possible.”

According to Prabhudas Lilladher, an expert, Bank Nifty also stayed close to the 39,000 zone for the majority of the session but gained speed in the closing hours to conclude close to the 39,200 zone with a bias that was still positive. The support for the day is seen at 17,200, while the resistance is projected at 17,450 levels, with some consolidation period in the indexes expected. The daily range for Bank Nifty would be 38,700 to 39,700 levels.

Purchase or sell stocks right now.

As previously mentioned, Vaishali Parekh of Prabhudas Lilladher has advised Ashok Leyland and Ambuja Cement as two companies to buy today.

Important information on Vaishali Parekh’s stock recommendations is listed below:

Buy at 159.50, target 165, stop loss 157 for Ashok Leyland; and

2] Buy Ambuja Cement at 521.50 with a target price of 535 and a stop loss of 514.


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