Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 8

Despite cautious cues, the Indian ended higher after trading range bound throughout the day on Friday. Nifty 50 index added 52 points and closed at the 21,710 level, and Sensex regained the 72,000 mark by adding 178 points in the last session of the week gone by. However, the Bank Nifty index went off 36 points and finished at 48,159 level.

The small cap index rose more than the Nifty even as the advance decline ratio remained high at 1.18:1. Intraday trading tips for Monday Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street has managed to maintain the positive bias as the Nifty 50 index is sustaining above 21,700 levels.

However, Prabhudas Lilladher expert maintained that a bullish trend can be assumed only after the 50 stock index gives a breakout above the 21,800 level. She went on to add that the Bank Nifty index is also trading range bound in the 47,900 to 48,600 range. On , Vaishali Parekh recommended three intraday stocks for today and those three shares are , Schaeffler India, and Carborundum Universal.

Stock market today On the outlook for Nifty 50 today, Vaishali Parekh said, "Nifty 50 maintained above the 21,700 zone during the closing session with some volatility witnessed during the intraday session and a decent recovery in the final hours of the day to maintain the positive bias intact. With the result season beginning, we anticipate volatility in the market with the index required to decisively break above the resistance zone of 21,800 level to confirm a breakout and anticipate further rise in the coming days." "Bank Nifty ended on a flat note with fluctuations witnessed and overall would need a decisive breach above the 48,600 zone to confirm a breakout and expect further upward move.

As of now, the index has the near term support of 47,500 levels which needs to be sustained for the overall bias to remain intact," Vaishali Parekh added. Immediate support for Nifty today is placed at the 21,600 zone while the resistance is seen at the 21,850 level. Bank Nifty would have a daily range of 47,900 to 48,600 levels.

Buy at 1506, target 1580, stop loss 1477; Buy at 3225, target 3350, stop loss 3165; and Buy at 1145, target 1200, stop loss 1127. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.