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Business News/ Markets / Stock Markets/  Buy or sell: Eicher Motors to LIC Housing Finance — Vaishali Parekh recommends three stocks to buy today — 1st April
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Buy or sell: Eicher Motors to LIC Housing Finance — Vaishali Parekh recommends three stocks to buy today — 1st April

Buy or sell stocks: Vaishali Parekh has recommended three shares to buy today — Deepak Fertilisers, Eicher Motors, and LIC Housing Finance

Stock market today: The Nifty 50 index has gained strength and one can anticipate retesting the peak zone of 22,526 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: The Nifty 50 index has gained strength and one can anticipate retesting the peak zone of 22,526 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks: On the last trade session in FY24, the Indian stock market witnessed a decisive intraday upside breakout. The Nifty 50 index went up 203 points and ended at the 22,326 level, the BSE Sensex shot up 655 points and finished at the 73,651 mark whereas the Bank Nifty index surged 338 points and closed at the 47,124 level. In the broad market, the small-cap index gained 0.33 percent while the mid-cap index scaled 0.62 percent north on the last trade session of FY24.

Intraday trading tips for Monday

Vaishali Parekh, Vice President — Technical Research a Prabhudas Lilladher believes that the Nifty 50 index gained strength and one can anticipate retesting the peak zone of 22,526 levels. The Prabhudas Lilladher expert went on to add that the 50-stock index is set to test next higher targets of 22,700 and 23,200. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks — Deepak Fertilisers, Eicher Motors, and LIC Housing Finance.

Also Read: Day trading guide for stock market today: Nine stocks to buy or sell on Monday

Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 witnessed a strong run up on the final day of the financial year 2023-2024 to end on a strong note near 22,350 zones with an intraday high of 22,516 levels on the back of heavy buying witnessed among the frontline stocks. The index has once again gained strength and one can anticipate retesting the peak zone of 22,526 levels in the coming days with next higher targets of 22,700 and 23,200 levels expected."

"The Bank Nifty index also gained momentum during the intraday session to touch the high of 47,440 levels with improvement in the bias and ended the day near 47,100 levels. As mentioned earlier, a decisive breach above the 47,300 zones would establish conviction to anticipate a further rise in the coming days," said Parekh.

Prakh went on to add that Nifty today has immediate support placed at 22,200 levels while the resistance would be seen at 22,500 levels. Bank Nifty would have a daily range of 46,700-47,600 levels.

Vaishali Parekh stocks to buy today

1] Deepak Fertilisers: Buy at 504, target 530, stop loss 492;

2] Eicher Motors: Buy at 4019, taqrget 4200, stop loss 3930; and

3] LIC Housing Finance: Buy at 611, target 640, stop loss 596.

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 making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 01 Apr 2024, 06:46 AM IST
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