Intraday Trading Picks: Vaishali Parekh Recommends Aditya Birla Real Estate, AU Small Finance Bank, and Nykaa

The Indian stock market witnessed a slight downturn on Monday, breaking an eight-session winning streak. The Nifty 50 index closed marginally lower, down 0.18%, at 25,069.20, as market participants adopted a cautious stance ahead of the US Fed meeting. The market's performance was mixed, with Nifty Realty leading the gainers with a 2.41% uptick, while sectors like Pharma, Healthcare, Auto, and IT faced profit-booking pressures.

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, remains optimistic about the Indian stock market. She notes that the Nifty 50 index is sustaining above the 25,000 levels but faces resistance near 25,150. A decisive breakout above 25,250 to 25,300 would set a positive tone, potentially pushing the index towards 25,800 levels. Parekh also mentioned that the 50-day Exponential Moving Average (EMA) at 24,800 is a crucial support level that needs to be sustained.

The Bank Nifty index, on the other hand, has been experiencing a sluggish and narrow rangebound session. Parekh suggests that a move past the 50EMA at 55,200 would improve the bias and indicate a fresh upward move. The immediate support for the Bank Nifty is at 53,600, while the daily range is expected to be between 54,500 and 55,600.

For intraday traders, Parekh has recommended three stocks: Aditya Birla Real Estate, AU Small Finance Bank, and Nykaa. Here are the detailed recommendations:

1] Aditya Birla Real Estate: Buy at ₹1852, Target ₹1910, Stop Loss ₹1820;

2] AU Small Finance Bank: Buy at ₹712, Target ₹740, Stop Loss ₹690;

3] Nykaa: Buy at ₹240, Target ₹250, Stop Loss ₹236.

Investors are advised to check with certified experts before making any investment decisions, as these views and recommendations are those of individual analysts or brokerage companies.

Prabhudas Lilladher is a well-known brokerage firm in India, providing comprehensive research and investment advisory services. The firm's technical analysis and market insights are widely followed by investors and traders alike.