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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 28
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 28

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — LIC Housing Finance, VRL Logistics and Zen Tech

Stock market today: Frontline stocks may fuel Nifty 50 index towards 22,300 levels in near term, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Frontline stocks may fuel Nifty 50 index towards 22,300 levels in near term, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Following strong global market sentiments, Indian stock market extended its rally for fourth straight session on Wednesday. Nifty 50 index touched a new high of 21,675 and hit its highest-ever closing levels of 21,654. BSE Sensex surged around 1 per cent and closed at 72,038 levels while Bank Nifty index gained 1.17 per cent and closed at 48,282 mark after touching a new peak of 48,347 levels. 

Broad market indices rose less than the Nifty even as the advance-decline ratio after falling managed to remain in the positive at 1.07:1.

Also Read: Azad Engg IPO listing date today. GMP, experts see over 50% gain for allottees

Intraday trading tips for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that stock market trend is bullish and anticipated further rise in Indian indices. Prabhudas Lilladher expert went on to add that pull back in key benchmark indices could become possible as frontline stocks have started participating in it. Vaishali Parekh went on to add that some frontline stocks like HDFC Bank, SBI, AXIS Bank and Kotak Bank are looking good and it can further fuel key benchmark indices in near term.

Also Read: Shares of National Aluminium, RBL Bank placed under F&O ban list on Thursday

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — LIC Housing Finance, VRL Logistics and Zen Tech.

Stock market today

On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty created history once again to record new high breaching above the previous peak zone of 21,593 levels to strengthen the trend and anticipate for further rise with next target of 22,300 levels visible in the coming days. The pullback has been strong and with many of the frontline stocks participating in the rally, there is much upside potential to carry on with the positive move to achieve higher targets."

Also Read: Indian stock market: 6 things that changed for market overnight

"Bank Nifty witnessed decent pullback from the low made near 46,920 level to gain strength and indicated a breakout above the previous peak of 48,220 levels to anticipate for further rise with next target of 49,800 levels open. Frontline banking stocks like HDFC Bank, SBI, AXIS Bank and Kotak Bank are looking good and can help the index to achieve the target in the coming days," said Parekh.

Parekh went on to add that immediate support for Nifty today is placed at 21,500 zone while the resistance is seen at 21,800 level. Bank Nifty would have a daily range of 48,000 to 48,700 levels.

Stocks to buy today

1] LIC Housing Finance: Buy at 524, target 547, stop loss 515;

2] VRL Logistics: Buy at 750, target 780, stop loss 740; and

3] Zen Tech: Buy at 810, target 850, stop loss 795.

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. Download The Mint News App to get Daily Market Updates.
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Published: 28 Dec 2023, 07:43 AM IST
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