Buy or sell: Vaishali Parekh recommends buying in 3 stocks today — 17 May
Live MintKey equity indices the Sensex and the Nifty ended lower on Tuesday after two days of rally, dragged down by index majors HDFC twins and Reliance Industries. Sensex opened 128 points higher at 62,474.11 but fell 498 points in intraday trade on profit booking, in the absence of any positive trigger, before closing with a loss of 413 points, or 0.66 per cent, at 61,932.47 while the Nifty closed at 18,286.50, down 112 points, or 0.61 per cent. Day trade guide by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher for Wednesday's session: She said, Nifty found resistance near the 18400 zone and slipped with profit booking witnessed to close in the red near 18300 with some of the frontline stocks cooling shedding their gains. BankNifty also witnessed a halt near the peak zone of 44150 and taking a breather with some profit booking witnessed ended below the 44000 zone near 43900 levels. Parekh recommends buying the following stocks: Buy Exide Industries at 194.50 with a stop loss 190 and a target price of 205 Buy UBL at 1448 with a stop loss 1425 and target price of 1505 Buy DCAL at 129.50 with a stop loss 135 and target 127 Nifty Spot Index Support – 18200/18150 Resistance - 18400/18450 Bank Nifty Spot Index Support – 43500/43450 Resistance – 44300/44350