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Vaishali Parekh recommends three intraday stocks amid market selloff
Vaishali Parekh suggested three stocks for short-term intraday trading.
Her picks were Apollo Micro Systems, Netweb Technologies and Blue Dart Express.
She gave a buying price, a possible target price and a stop-loss price for each stock.
The wider Indian stock market had a difficult trading session.
The Nifty 50 fell below 23,000 and closed at 22,762.
The Sensex also dropped below 73,000 and closed at 72,836.
Parekh said the market trend looked weak and could fall further.
She said the Nifty would need to move above 23,100 to improve its outlook.
Vaishali Parekh recommended Apollo Micro Systems, Netweb Technologies and Blue Dart Express for intraday trading on September 29.
Apollo Micro Systems was recommended at ₹410, with a target of ₹430 and stop loss of ₹395.
Netweb Technologies was recommended at ₹4,550, with a target of ₹4,700 and stop loss of ₹4,440.
Blue Dart Express was recommended at ₹4,775, with a target of ₹4,950 and stop loss of ₹4,630.
The Nifty 50 fell 1.54% to 22,762, while the Sensex declined 1.43% to 72,836 on September 28.
- Who
- Vaishali Parekh, Vice President–Technical Research at Prabhudas Lilladher, and traders considering her recommendations.
- What
- Parekh recommended three stocks for intraday trading and provided buy levels, targets and stop-loss levels.
- Where
- The Indian stock market.
- When
- The recommendations were for September 29; the cited market declines occurred on September 28.
- Why
- The recommendations were made for intraday trading as the market faced pressure from rising crude oil prices, elevated bond yields and concerns about global monetary tightening.
Key facts
- Analyst
- Vaishali Parekh, Vice President–Technical Research at Prabhudas Lilladher
- Apollo Micro Systems
- Buy at ₹410; target ₹430; stop loss ₹395
- Netweb Technologies
- Buy at ₹4,550; target ₹4,700; stop loss ₹4,440
- Blue Dart Express
- Buy at ₹4,775; target ₹4,950; stop loss ₹4,630
- Nifty 50 close
- 22,762, down 1.54% on September 28
- Sensex close
- 72,836, down 1.43% on September 28
- Nifty outlook
- Parekh identified downside targets of 22,500 and 22,000, while 23,100 was described as the level needed to improve the bias.
Sources
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