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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — 1st December
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — 1st December

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — L&T Finance, KPIL, Intellect Design

Stock market today: Overall trend looks positive as Nifty 50 index ended above 20,100 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Overall trend looks positive as Nifty 50 index ended above 20,100 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: After witnessing topsy-turvy trade during morning session, Indian stock market ended on a mixed note on Thursday. Nifty 50 index finished 36 points higher at 20,133 levels, BSE Sensex closed 86 points higher at 66,988 mark whereas Bank Nifty index lost 84 points and closed at 44,481 levels. Broad market indices rose more than the Nifty 50 index even as the advance decline ratio was almost even at 1.06:1.

Intraday trading tips for Friday

Vaishali Parekh, Vice President —Technical Research at Prabhudas Lilladher believes that overall stock market trend is positive as Nifty 50 index ended above 20,100 levels. Prabhudas Lilladher expert went on to add that market may expect the 50-stock index to touch new all-time high till Nifty 50 index is above 20,000 levels. 

Also Read: Bonus shares 2023: Alphalogic Industries to trade ex-bonus today in 1:1 ratio

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — L&T Finance, Kalpataru Projects International Ltd or KPIL and Intellect Design Arena.

Stock market today

On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty witnessed some volatility during the intraday session maintaining above the 20,000 zone and in the final hours recovered to close above the 20,100 level with bias remaining positive and is gradually inching ahead to retest the previous peak zone of 20,222 levels. We anticipate some resistance near the peak zone and only a decisive breach above 20,250 zone shall confirm for further rise in the coming days."

Also Read: Tata Tech closes 165% higher on market debut: A look at 5 stocks that beat the Tata Group stock at listing gains

On outlook for Bank Nifty today, Parekh said, "Bank Nifty managed to close above the 44,450 zone of significant 50EMA level after resisting near the 44,800 zone during the intraday session. As mentioned earlier, a decisive close above 45,000 is necessary to establish a confirmation for further rise in the coming days."

Parekh went on to add that immediate support for Nifty 50 today is placed at 20,000 while the resistance is seen at 20,250. Bank Nifty would have a daily range of 44,200 to 44,800 levels.

Stocks to buy today

1] L&T Finance: Buy at 148.25, target 155, stop loss 146;

2] KPIL: Buy at 663.25, target 690, stop loss 655; and

3] Intellect Design Arena: Buy at 734.45, target 765, stop loss 725.

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.

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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. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 01 Dec 2023, 07:34 AM IST
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