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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 15
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 15

Buy or sell: Vaishali Parekh has recommended three stocks to buy today — IHC, Divi's Laboratories, and Crompton Greaves

Stock market today: The Indian stock market bias has turned weak after the Nifty 50 index ended close to its crucial support, which is placed at the 22,500 mark, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: The Indian stock market bias has turned weak after the Nifty 50 index ended close to its crucial support, which is placed at the 22,500 mark, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Amid rising Iran-Israle tension, the Indian stock market ended lower on Friday last week. The Nifty 50 index corrected 234 points and ended at the 22,519 level, the BSE Sensex nosedived 793 points and closed at the 74,244 mark, and the Bank Nifty index shed 422 points and finished at the 8,564 level. In the broad market, the small-cap index dipped 0.60 percent whereas the mid-cap index went down 0.49 percent.

Vaishali Parekh's stock recommendations

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Indian stock market bias has turned weak after the Nifty 50 index ended close to its crucial support, which is placed at the 22,500 mark. The Prabhudas Lilladher expert went on to add that the Bank Nifty index is showing signs of topping out near the 49,100 zone. 

Also Read: Day trading stocks to buy: Anand Rathi expert recommends 3 shares to buy today

On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — Indian Hotels Company (IHC), Divi's Laboratories, and Crompton Greaves.

Also Read: TCS share price: Q4 results 2024 beat market estimates. Is this a share to buy on Monday?

Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index resisted near the long-term trendline zone of 22,750 levels and witnessed a slide with a bearish candle formation on the daily chart to weaken the bias with 22,500 maintained as the crucial support zone as of now. The index would have the 22,000 as the major and important support base below which the overall trend shall turn weak."

"The Bank Nifty index has shown signs of topping out near the 49,000 zone and with a red candle formation has slightly weakened the bias to maintain a cautious approach. The index would have the near-term support at around 48,000 levels while a decisive breach above the 49,100 zone shall continue with the uptrend movement for further rise," said Parekh.

Parekh went on to add that Nifty today has immediate support placed at 22,400 while the resistance is seen at 22,700 levels. The Bank Nifty would have a daily range of 48,100 to 49,000 levels.

Vaishali Parekh's stocks to buy today

1] Indian Hotels Company or IHC: Buy at 607.50, target 635, target 595;

2] Divis Lab: Buy at 3780, target 3920, stop loss 3700; and

3] Crompton Greaves: Buy at 299, target 311, stop loss 292.

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
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Published: 15 Apr 2024, 06:54 AM IST
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