Buy or sell: Vaishali Parekh recommends three stocks to buy today — August 26

Stock market today: The Nifty 50 index has a support at 24,700 mark, and the 50-stock index faces a resistance at 25,000 points, estimates Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)
Stock market today: The Nifty 50 index has a support at 24,700 mark, and the 50-stock index faces a resistance at 25,000 points, estimates Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Summary

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — HBL Power Systems, GNA Axles, and Time Technoplast

Buy or sell stocks today: The Indian stock market closed largely flat on Friday despite gains in Asian and European indices. The benchmark Nifty50 index closed 0.05% higher at 24,823.15 points on Friday, while the BSE Sensex closed 0.04% higher at 81,086.21 points. 

Vaishali Parekh's stocks to buy today

Vaishali Parekh, vice president, technical research at Prabhudas Lilladher, said that the Nifty witnessed a steady and gradual gain last week, finding resistance near the 24,850 zone. It continues to maintain a strong bias and sentiment, which is estimated to improve further in the coming days. Parekh estimates the Nifty50 Spot index to get support at 24,700 points and have a resistance at 25,000 points. The Bank Nifty index would have a daily range of 50,600 to 51,400 today.

Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks: HBL Power Systems Ltd., GNA Axles Ltd., and Time Technoplast Ltd.

Stock market today

For the outlook on the Nifty 50 and the Bank Nifty index, Vaishali Parekh said, “Nifty witnessed a steady and gradual gain during the week finding resistance near the 24,850 zone maintaining a strong bias and with sentiment much improved is anticipated for further rise in the coming days."

“As mentioned earlier, the psychological target of 25,000 level can be achieved with 24,500 zone maintained as the near-term support level," said the stock market expert.

“Bank Nifty has been witnessing a sluggish movement for quite some time gripped between the tough band of 51,000 and 50,300 levels and as we have been mentioning earlier, would need a decisive breach above the 51,000 barrier to trigger for fresh upward move. At the same time, the zone near 49,600 level is maintained as the strong support which needs to be sustained to maintain the bias intact," said Parekh.

Parekh added that the Nifty 50 for today has support at 24,700, while the resistance lies at 25,000. The Bank Nifty index would have a daily range of 50,600 to 51,400.

Buy or sell stocks buy Vaishali Parekh


1. HBL Power Systems Ltd. (HBL POWER): Buy at 657.20; Target at 690; Stop Loss at 642. 

2. GNA Axles Ltd. (GNA AXLES): Buy at 434.25; Target at 460; Stop Loss at 424. 

3. Time Technoplast Ltd. (TIME TECHNO): Buy at 399; Target at 420; Stop Loss at 391.

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 taking any investment decisions.

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