Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 11 | Mint
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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 11
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 11

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Bharat Forge, Infosys and Century Plyboards

Stock market today: Nifty 50 index may go up to 21,900 levels once it breaches the current resistance of 21,100 decisively, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index may go up to 21,900 levels once it breaches the current resistance of 21,100 decisively, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Following strong global market cues on Wall Street rally, Indian stock market finished higher on Friday. Nifty 50 index ended higher for sixth straight week at 20,969 after hitting a new high of 21,006. BSE Sensex gained 303 points and closed at 69,825 levels while Bank Nifty index shot up 420 points and ended at 47,262 mark. 

Cash market volumes on the NSE continued to be above 1 lakh crore after Friday deals. However, broad market indices ended negative even as the advance decline ratio softened to 1.03:1.

Intraday trading tips for Monday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall stock market trend is positive but Nifty 50 index needs to breach 21,100 hurdle on closing basis to maintain this bull trend further. 

Also Read: Stock split 2023: Sudev Industries shares to trade ex-split today in 1:2 ratio

Prabhudas Lilladher expert went on to add that Nifty 50 index may go up to 21,900 levels once it breaches the current resistance of 21,100 decisively.

Buy or sell stocks for today

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Bharat Forge, Infosys and Century Plyboards.

Stock market today

On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty created yet another history scaling the 21,000 landmark during the intraday session witnessing some volatility but regained strength in the second half to end on a positive note. As mentioned earlier, a decisive breach above 21,000 levels is required to maintain the uptrend and expect for next higher targets of 21,800 to 21,900 levels in the coming days with near-term support lying near 20,550 zone of the rising trendline level."

"Bank Nifty also recorded new high scaling 47,300 levels with bias maintained strong and with most of the frontline banking stocks well poised for further upward move, one can anticipate further rise in the coming days with 46,300 zone as the support zone visible from current levels," said Parekh.

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Parekh went on to add that immediate support for Nifty today is placed at 20,850 while the resistance is seen at 21,100 levels. Bank Nifty would have a daily range of 46,900 to 47,700 levels.

Stocks to buy today

1] Bharat Forge: Buy at 1177, target 1220, stop loss 1160;

2] Infosys: Buy at 1491, target 1545, stop loss 1470; and

3] Century Ply: Buy at 686, target 712, stop loss 677.

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.d

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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: 11 Dec 2023, 07:08 AM IST
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