Buy or sell: Vaishali Parekh recommends three stocks to buy today — 13 January 2025
- Buy or sell: Vaishali Parekh recommends three stocks to buy today — Wipro, IRCTC, and MOIL
Buy or sell stocks: Despite strong buying in the IT stocks post-TCS Q3 results 2025, the Indian stock market ended in the red territory for the third day in a row. The Nifty 50 index ended 95 points lower at the 23,431 mark; the BSE Sensex finished 241 points lower at 77,378, whereas the Bank Nifty index nosedived 717 points at 48,785. The broader market sentiment remained bearish, reflected in the BSE's advance-decline ratio of 0.26, showing declining shares substantially outnumbering advancing ones. The small-cap index recorded its steepest monthly decline, falling nearly 5.5% in just the last three sessions.
Stock market today
Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the overall Indian stock market mood has weakened. The Nifty 50 index has decisively broken the crucial support placed at 23,500. The Prabhudas Lilladher expert said that if the selling continues on Monday, the 50-stock index might try to test the 23,300 to 23,250 mark.
Speaking on the outlook for the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index has broken the important and crucial support zone of 23,500 levels weakening the bias and sentiment, and is currently precariously placed with 23,250 to 23,300 band as the final hope, which needs to be sustained below which the overall trend would turn negative and can trigger for fresh selling pressure in the coming days. The index continued with the slide, and for the bias to improve, it needs to move past the 23,800 zone, and thereafter, a close above the significant 200 period MA of 23,950 levels is much required to establish conviction for further rise."
"The Bank Nifty index, as compared to the Nifty index, has underperformed and continued with the downward slide, further weakening the bias and almost reaching the 48,550 zone, which is the immediate support. A significant revival is required and must breach the important zone of 49,700 levels to establish conviction and expect a further rise in the coming sessions. A decisive move below the 48,550 zone shall further weaken the trend with the next major support visible near the 47,300 level," Parekh said.
Regarding Monday's buy or sell stocks, Vaishali Parekh recommended buying Wipro, IRCTC, and MOIL.
Buy or sell stocks by Vaishali Parekh
1] Wipro: Buy at ₹300, target ₹315, stop loss ₹290;
2] IRCTC: Buy at ₹778, target ₹800, stop loss ₹760; and
3] MOIL: Buy at ₹351, target ₹380, stop loss ₹335.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
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