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

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — GAIL, L&T Finance and AU Small Finance Bank

Stock market today: Nifty 50 has given breakout at 21,000 levels and the 50-stock index is now heading for an immediate target of 21,600 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 has given breakout at 21,000 levels and the 50-stock index is now heading for an immediate target of 21,600 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Following US stock market rally on US Fed rate cut signal, Indian stock market climbed to a new peak on Thursday. All three key benchmark indices — Nifty 50, BSE Sensex and Nifty Bank — touched a new high respectively. Nifty 50 index closed at 21,182 after touching a new high of 21,210. BSE Sensex ended at 70,514 after hitting new record high of 70,602. 

Similarly, Bank Nifty index finished at 47,732 after climbing to a new peak of 47,943 during Thursday deals. In broad market, both small-cap and mid-cap indices hit a new peak. Small-cap index climbed to a new peak of 41,983 while mid-cap index touched record high of 36,264.

Intraday trading tips for Friday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said that Nifty 50 has given breakout at 21,000 levels and the 50-stock index is now heading for an immediate target of 21,600 levels. Prabhudas Lilladher expert went on to add that NNifty 50 is now set to enter a new territory of 21,600 to 22,300 levels. Expecting bull trend to continue in frontline banking shares, Vaishali Parekh went on to add that Bank Nifty index has given breakout at 47,500 levels and the index is now heading for next target of 49,200 and 50,000 respectively.

Also Read: Shares of Asit C Mehta to trade ex-rights, Somany Ceramics to trade ex-buyback today

Buy or sell stocks for today

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — GAIL, L&T Finance and AU Small Finance Bank.

Stock market today

Speaking on outlook for Nifty today, Vaishali Parekkh said, "Nifty after the Bullish Hammer pattern on the daily chart opened with a huge gap up to scale new record high once again to touch 21,210 levels during the intraday session to indicate a clear breakout above the 21000 zone. With the index entering a new territory the next target expected is around 21,600 and further ahead 22,300 levels in the coming days."

Also Read: Shift towards motion technology may brighten Schaeffler India’s prospects

"Bank Nifty has indicated a clear breakout above the crucial 47,500 levels to strengthen the trend overall and has opened the gates for further targets of 49,200 and 50,000 levels in the coming days. From current levels, the zone near 46,300 level shall be maintained as the important support zone from current levels," Parekh said.

Parekh went on to add that immediate support for Nifty today is placed at 21,100 while the resistance is seen at 21,350 levels. Bank Nifty would have a daily range of 47,500 to 48,200 levels.

Stocks to buy today

1] GAIL: Buy at 145.55, target 153, stop loss 142;

2] L&T Finance: Buy at 159.35, target 168, stop loss 156; and

3] AU Small Finance Bank: Buy at 760, target 795, stop loss 750.

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 Ainvestment decision.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 15 Dec 2023, 07:12 AM IST
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