Vaishali Parekh suggests three equities to purchase today, October 12

 Vaishali Parekh suggests three equities to purchase today, October 12

Buy or sell stocks today: On Wednesday, the Indian stock market rose for a second consecutive day, reflecting positive trends on the world stock market. The Bank Nifty index increased by 156 points and concluded at 44,516 levels, while the Nifty 50 index increased by 121 points to close at 19,811 levels. The BSE Sensex increased by 393 points to close at 66,473 levels. The advance decline ratio remained high at 1.98:1 even though the small-cap index increased more than the Nifty.

Thursday's intraday trading plan

As the Nifty 50 index closed over 19,800 levels, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, feels that Dalal Street sentiments have improved even further. The analyst from Prabhudas Lilladher continued by saying that the current level of 19,600 serves as close-term solid support for the Nifty. Vaishali Parekh suggested purchasing three companies today: Hero Motocorp, Exide Industries, and Minda Corp.

Regarding the prognosis for Nifty today, Vaishali Parekh said, "With the result season starting now, we expect volatility to be seen in the market as Nifty continued with the bullish advance to finish above the 19,800 zone further enhancing the bias despite the tensions in the middle east. The index's short-term support level would be around 19,600, and the current expectation is that the index's short-term aim would be in the 20,000 zone.

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"Bank Nifty saw a positive movement, but it was rejected in the 44,700 zone, remaining unchanged for the remainder of the session, and ending close to the 44,500 mark. As previously said, a clear advance beyond the crucial 50EMA zone's 44,700 level is required to enhance the trend as a whole and prepare for additional gains, according to Parekh.

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The immediate support and resistance levels for the Nifty today are 19,700 and 19,950, respectively, according to Parekh. The daily range for Bank Nifty will be 44,200 to 44,900 levels.

Buy Hero Motocorp at $3100; set a stop loss at $3060; goal price is $3250;

Buy at 263, goal is 277, stop loss is 259 for Exide Industries; and

3] Buy Minda Corp. at $344; set a stop loss at $338.