Stock Market Today: Sensex and Nifty recover its opening losses and trade flat, Vaishali Parekh recommends two stocks to buy

Stock Market Today: Despite fluctuating throughout the day, Dalal Street managed to close in the green. Index of 50 stocks Nifty concluded 6 points higher at 18,409, the BSE Sensex, a 30-stock index, soared 107 points to finish at 61,980, and the Nifty Bank index finished 162 points higher at 42,535 mark. Bulls in the market continue to favour bank, IT, and IT stocks, while bears outpaced bulls in the metal, power, real estate, oil and gas, and energy sectors.

Today's stock market: Trading strategies for intraday trading

Although key benchmark indexes are encountering resistance because they are getting close to their peak levels, Vaishali Parekh, Vice President Of Technical Research at Prabhudas Lilladher, believes that overall Dalal Street bias is favourable. Further stating that HDFC Bank and Kotak Bank may continue to draw purchasing interest in the near future, Vaishali Parekh of Prabhudas Lilladher. Vaishali Parekh suggested two stocks to buy today on intraday stocks, and those two shares are Pidilite Industries and Castrol India.

"The overall bias and sentiment is maintained positive and one can expect some resistance as we are nearing the peak zone of 18500-18600 levels," Vaishali Parekh said of Thursday's trading strategy. "The support for the day is seen at 18300 while the resistance is seen at 18550. Bank Nifty would have a daily range of 42100-43000 levels."

Kotak Bank and HDFC Bank shares are looking appealing.

Vaishali Parekh of Prabhudas Lilladher continued, "Nifty is slowly inching upwards, but again encountering resistance near 18,400 zone, and with heavyweights like Kotak Bank, HDFC Bank, Infosys, and TCS beginning to see some strong pullback to improve the bias, but with some volatility seen in the second session, the index closed on a flat note." Bank Nifty also traded in a range between 42,400 and 42,600, with Kotak Bank and HDFC Bank appearing appealing.

Today's intraday stocks

As previously said, Vaishali Parekh of Prabhudas Lilladher has advised two stocks to buy today; here are the full specifics on those buy or sell stocks:

1) Pidilite Industries: Buy at 2682 with a target of 2755 and a stop loss of 2640; and

2) Castrol India: Buy at 129 with a target of 135 and a stop loss of 127.

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