Vaishali Parekh Recommends 7 Stocks To Buy Or Sell On Wednesday

On Wednesday, benchmark equity indices began the day with small gains ahead of the WPI inflation report. While the Sensex opened flat at 63,115.48 levels, the Nifty began trading flat over 18,700 levels. Rupee begins at 82.28 to the dollar compared to Tuesday's wrap up of 82.37 to the dollar on the back of easing crude oil prices.

Commenting on the outlook of Nifty on Wednesday, Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd said "Nifty witnessed a decent pullback after the 3 sessions of sluggishness and slight profit booking, to close above the 18700 zone to improve the bias and has turned the daily trend up after 3 days to anticipate for further upward move. The index is heading for the initial upside target of 18900 levels, as mentioned earlier also, with some of the major frontline stocks once again showing improvement in their bias and anticipating for further gains in the coming days. The support for the day is seen at 18600 levels while the resistance is seen at 18850 levels."

Commenting on the outlook of Bank Nifty, Vaishali Parekh said "BankNifty once again has been underperforming as compared to the Nifty index but has managed to close above the 44000 zone and would need to cross the 44500 zone for further fresh upward movement. The frontline banking stocks like Axis Bank, ICICI Bank and Indusind Bank are maintained in the positive zone and has scope for further gains in the coming days. BankNifty would have the daily range of 43800-44500 levels."

Stocks To Buy Or Sell On Wednesday

1. Deepak Fertilisers And Petrochemicals Corporation: Call price: Rs 563, stoploss: Rs 545, target price: Rs 585
2. Tejas Network: Call price: Rs 725, stoploss: Rs 710, target price: Rs 760
3. Havells- Call price: Rs 1353, stoploss: Rs 1335, target price: Rs 1380
4. BEPL- Call price: Rs 132.65, stoploss: Rs 128, target price: Rs 142
5. PNB: Call price: Rs 52, stoploss: Rs 51, target price: Rs 54
6. Tata Consumer- Call price: Rs 819, stoploss: Rs 810, target price: Rs 840
7. Auto Pharma- Call price: Rs 675, stoploss: Rs 663, target price: Rs 690

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.