Buy or sell: Vaishali Parekh recommends three shares to buy before Budget 2025 on Saturday — 1 February 2025

Buy or sell stocks: The Indian stock markets closed in the green for the fourth consecutive session as hopes over the government continuing to invest in the nation's capex rise among stock market investors. The Nifty 50 index closed 1.11 per cent higher at 23,508.40 points, compared to 23,249.50 points.

The BSE Sensex closed 0.97 per cent higher at 77,500.57 points after Friday's market session, compared to 76,759.81 points at the previous market close. 

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 crossed the 23,500 zone ahead of the budget market session on February 1. The index needs to breach above the 24,000 zone is necessary to anticipate a further rise. Parekh estimates the Nifty 50 Spot index to find support at 23,300 points and face resistance at 23,700 points. The Bank Nifty index will likely move in the 49,000 to 50,200 range.

Parekh recommended three buy-or-sell stocks for Saturday: NBCC India Ltd, Housing & Urban Development Corporation Ltd (HUDCO), and Indian Railway Catering and Tourism Corporation Ltd (IRCTC). 

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty witnessed 3 consecutive sessions of winning streak to cross the 23,500 zone before the budget session to ease out the sentiment to some extent hoping for further positive cues from the session.” 

“The index would have the important and crucial support zone of 23,000 level while on the upside a decisive breach above the 24,000 zone is necessary to establish conviction and thereafter, anticipate for further rise in the coming days,” said the stock market expert. 

“Bank Nifty witnessed some pullback but could not cross above the important hurdle of 49,700 zone which is very important to confirm conviction and a breakout is much required to carry on with the positive move further ahead. All eyes would be on the budget session outcome which would decide the further directional move of the indices in the coming days,” said Parekh. 

Parekh said that the Nifty 50 Spot for today has support at 23,300 points and resistance at 23,700 points. The Bank Nifty index would have a daily range of 49,000 to 50,200. 

Buy or sell stocks by Vaishali Parekh

1. NBCC India Ltd. (NBCC): Buy at ₹99; Target at ₹ ₹110; Stop Loss at ₹95.

2. Housing & Urban Development Corporation Ltd. (HUDCO): Buy at ₹227; Target at ₹245; Stop Loss at ₹222.

3. IRCTC: Buy at ₹815; Target at ₹850; Stop Loss at ₹800.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.