Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 19

Buy or sell stocks for today: After logging gains for seventh week in a row, Indian stock market ended lower on Monday. Nifty 50 index finished 38 points down at 21,418 levels, BSE Sensex corrected 168 points and closed at 71,315 mark while Bank Nifty corrected 275 points and finished at 47,867 levels. However, broad market outperformed key benchmark indices. Small-cap index gained 0.48 per cent while mid-cap index added 0.28 per cent.

Intraday trading tips for Tuesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50 index has taken a breather and has halted near the 21,500 zone. Prabhudas Lilladher expert went on to add that Nifty today is facing resistance at 21,400 levels. The technical expert went on to add that a decisive breach above 21,500 zone is necessary to carry on the momentum further ahead with next near-term target expected till 24,650 to 24,680 levels.

Buy or sell stocks

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are Laurus Labs, Amara Raja Energy and CEAT.

Stock market today

Speaking on Nifty 50 index, Vaishali Parekh said, "Nifty index after witnessing the decent spurt in the last 2 sessions has taken a breather and has halted near the 21,500 zone finding resistance and has got 21,400 levels as the near-term support for the day. A decisive breach above 21,500 zone is necessary to carry on the momentum further ahead with next near-term target expected till 21,650 to 21,680 levels. The major support would be positioned near 21,000 levels from here on and with the overall bias and sentiment maintained strong, we anticipate further upward movement in the coming days once a breach above 21,500 zone is confirmed."

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"Bank Nifty in a similar pattern has taken a breather and needs a decisive breach above the resistance zone of 48,200 levels to carry on with the upward move with support lying near 46,800 levels as of now," said Parekh.

Parekh went on to add that immediate support for Nifty today is placed at 21,300 while the resistance is seen at 21,550 levels. Bank Nifty would have a daily range of 47,500 to 48,200 levels.

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Stocks to buy today

1] Laurus Labs: Buy at ₹399.35, target ₹420, stop loss ₹395;

2] Amara Raja Energy: Buy at ₹781.25, target ₹815, stop loss ₹768; and

3] CEAT: Buy at ₹2427, target ₹2520, stop loss ₹2390.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.