Buy or sell stocks: Vaishali Parekh recommends three shares for today — January 14, 2025
- Buy or sell stocks: Vaishali Parekh has recommended three intraday stocks for today —Piramal Pharma, Poonawalla Fincorp, and Precision Camshafts
Buy or sell stocks for today: Domestic equity benchmarks Sensex and Nifty 50 last extended their losing streak for the fourth straight session, dragged by heavy selling in global equities and a spike in international crude oil prices amid persistent worries over slowing domestic corporate earnings.
On Monday, the 30-share BSE benchmark Sensex tanked 1,048.90 points or 1.36 per cent to settle at 76,330.01. During the day, it plunged 1,129.19 points, or 1.45 per cent, to 76,249.72. The NSE Nifty dropped 345.55 points, or 1.47 per cent, to close at 23,085.95. Both benchmarks closed at their lowest in about seven months.
Also Read: Stock market today: Sensex crashes over 1,000 points; 8 key factors behind bloodbath on D-Street
The broader, more domestically focussed small- and mid-caps sank a steeper four per cent each, due to relatively richer valuations that could be tested if corporate earnings disappointed, market analysts said. The mid-cap index recorded its biggest slide in seven months.
Strong US jobs data erased early interest rate cut expectations, and the rupee logged its steepest single-day fall in nearly two years. Unabated foreign fund outflows also dampened investor sentiment. Investors now foresee only one rate cut of 25 basis points by the US Federal Reserve in 2025.
That lifted 10-year Treasury yields to 14-month highs and sent the US dollar rallying, making emerging markets less attractive for investment. This exacerbated foreign outflows, triggering a sharp decline in Indian markets.
Investors lost ₹24.69 lakh crore in market valuation in the last four days. In the past four sessions, Sensex tanked 1,869.1 points or 2.39 per cent. The market capitalisation of BSE-listed firms eroded by ₹24,69,243.3 crore to ₹4,17,05,906.74 crore ($4.82 trillion) in four days.
With Monday's sharp fall in equities, the market cap of BSE-listed firms dived below the $5 trillion mark. Meanwhile, government data showed on Monday that India's retail inflation moderated to a four-month low of 5.22 per cent in December 2024, mainly due to the easing of prices in the food basket.
Vaishali Parekh's stocks today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty has tanked below the important and crucial support zone of 23,250-23,300 levels, weakening the trend overall and triggering a further slide, turning the bias and sentiment into a very cautious mode.”
According to Parekh, the weak global cues and the depreciating rupee value are major concerns for the Indian economy, which needs improvement to anticipate a market revival.
For Bank Nifty, the Prabhudas Lilladher stock market expert said, “Breaking the 48,500 zone, Bank Nifty has turned much weaker compared to the Nifty, and has witnessed a losing streak for the fourth consecutive session”.
Vaishali Parekh recommended three intraday stocks for today: Piramal Pharma Ltd, Poonawalla Fincorp Ltd, and Precision Camshafts Ltd.
Stock market today
For today's outlook on the Nifty 50, Parekh said, "On the downside, the index has got the next important supports near the 22,800 level and thereafter, the base of the descending channel, which is positioned at around 22,300 zones.
On Bank Nifty, she said, “With no respite to selling pressure, the index is precariously placed and has next support zone of 47,300 and 46,700 levels, below which the overall trend would turn bearish.”
Nifty 50's support for the day is seen at 22,850 levels, while the resistance is seen at 23,300 levels. Bank Nifty would have a daily range of 47,400-48,600 levels.
Buy or sell stocks by Vaishali Parekh
1.Piramal Pharma Ltd: Buy Piramal Pharma Ltd at ₹233 with a target price of ₹250 and a stop loss of ₹225.
2.Poonawalla Fincorp Ltd: Sell Poonawalla Fincorp Ltd at ₹303 with a target price of ₹290 and a stop loss of ₹310.
3.Precision Camshafts Ltd: Buy Precision Camshafts Ltd at ₹350 with a target price of ₹370 and a stop loss of ₹338.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
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