Intraday Trading Picks: Vaishali Parekh Recommends Aditya Birla Real Estate, AU Small Finance Bank, and Nykaa
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, recommends three stocks for intraday trading today: Aditya Birla Real Estate, AU Small Finance Bank, and Nykaa. Here are the buy, target, and stop-loss levels.
Real Estate News:The Indian stock market saw a cautious trading session on Monday, with benchmark indices snapping their eight-session winning streak. The Nifty 50 index ended marginally in the red, down 0.18% at 25,069.20, after registering an intraday high of 25,138. Market participants adopted a cautious stance ahead of the US Fed meeting, which is expected to provide cues on the future interest rate trajectory and its implications for bond yields.
Sectoral performance was mixed. Nifty Realty led the gainers with a robust uptick of 2.41%, while PSU Banks and Oil & Gas counters also lent support. Conversely, defensive and rate-sensitive sectors such as Pharma, Healthcare, Auto, and IT bore the brunt of profit-booking, weighing on overall sentiment. Broader markets, however, outperformed the frontline indices, with the Nifty Midcap 100 rising 0.44% and the Nifty Smallcap index advancing 0.76%, indicating sustained interest in the broader universe amid sectoral rotation.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment remains positive, with the Nifty 50 index sustaining above 25,000 levels. However, the key benchmark index faces a hurdle at the 25,150 level. A decisive breakout above 25,250 to 25,300 will set a fresh positive tone, and we can expect the 50-stock index to touch 25,800 levels soon.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, 'The Nifty 50 index finally ended the long winning streak, finding resistance near the 25150 zone, and with a very narrow rangebound movement, closed marginally in the red near the 25100 zone. The overall bias is maintained, and as mentioned earlier, the index would need a decisive breach above the 25250-25300 zone to establish conviction and, thereafter, can trigger a breakout to anticipate a further fresh upward move. From the current level, the 50EMA at the 24800 zone would be positioned as the near-term important support, which needs to be sustained as of now.'
On the outlook of the Bank Nifty index, Parekh said, 'The Bank Nifty index continues to witness a sluggish and narrow rangebound session overall, indicating a gradual rise in the last few sessions but lacking conviction and a clear directional move. As we have been mentioning, the index would need a decisive move past the 50EMA at the 55200 zone to improve the bias and, thereafter, establish conviction anticipating a fresh upward move in the coming days with the 53600 level maintained as the important support zone that needs to be sustained.'
Parekh noted that the immediate support for the Nifty 50 index is at 24,900, while the resistance is at 25,300. The Bank Nifty would have a daily range of 54,500 to 55,600.
For intraday trading, Parekh recommended the following three stocks:
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; and
3] Nykaa: Buy at ₹240, Target ₹250, Stop Loss ₹236.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Frequently Asked Questions
What is the current outlook for the Nifty 50 index?
The Nifty 50 index faces a hurdle at the 25,150 level. A decisive breakout above 25,250 to 25,300 will set a fresh positive tone, and we can expect the index to touch 25,800 levels soon.
What is the immediate support and resistance for the Nifty 50 index?
The immediate support for the Nifty 50 index is at 24,900, while the resistance is at 25,300.
What is the recommended daily range for the Bank Nifty index?
The Bank Nifty index is expected to have a daily range of 54,500 to 55,600.
Which stocks does Vaishali Parekh recommend for intraday trading?
Vaishali Parekh recommends Aditya Birla Real Estate, AU Small Finance Bank, and Nykaa for intraday trading.
What are the buy, target, and stop-loss levels for these recommended stocks?
Aditya Birla Real Estate: Buy at ₹1852, Target ₹1910, Stop Loss ₹1820; AU Small Finance Bank: Buy at ₹712, Target ₹740, Stop Loss ₹690; Nykaa: Buy at ₹240, Target ₹250, Stop Loss ₹236.