Active Stocks
Mon Mar 04 2024 10:00:48
  1. Tata Steel share price
  2. 151.05 -2.64%
  1. Bharti Airtel share price
  2. 1,140.15 0.84%
  1. NTPC share price
  2. 349.95 2.37%
  1. Power Grid Corporation Of India share price
  2. 292.15 1.83%
  1. Tata Motors share price
  2. 980.90 -0.76%
Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 4
BackBack

Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 4

Buy or sell: Vaishali Parekh has recommended three stocks to buy today — GIPCL, CESC and Crompton Greaves

Stock market today: Nifty 50 index needs to sustain above 20,250 levels to confirm fresh breakout, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index needs to sustain above 20,250 levels to confirm fresh breakout, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: On account of of pleasantly surprising Indian GDP data, Indian stock market ended higher on fourth straight session on Friday last week. Nifty 50 index touched new life-time high of 20,291 and finished 134 points higher at 20,267 levels. BSE Sensex gained 492 points and closed at 67,481 mark whereas Bank Nifty index ended 332 points higher at 44,814 levels. In broad market, small-cap index gained 0.48 per cent whereas mid-cap index shot up 0.96 per cent.

Intraday trading tips for Monday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall market trend is bullish. Prabhudas Lilladher expert went on to add that Nifty 50 index needs to sustain above the 20,250 levels to confirm fresh breakout. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today — GIPCL, CESC and Crompton Greaves.

Stock market today

On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty created history breaching above the previous peak zone of 20,222 levels and entered a new territory to touch the high of 20,291 indicating a strong trend. The Index needs to sustain above the 20,250 levels in the coming session to confirm the breakout and anticipate for further rise."

Also Read: Assembly election results 2023: How will the Indian stock market react?

"Bank Nifty also witnessed a pullback to move past the 44,800 levels to maintain the bias intact and further ahead, as mentioned earlier, needs a decisive close above 45,000 to establish a confirmation to anticipate for further rise in the coming days," said Parekh.

Parekh went on to add that immediate support for Nifty today is placed at 20,100 levels while the resistance is seen at 20,400 levels. Bank Nifty would have a daily range of 44,500 to 45,200 levels.

Stocks to buy today

1] GIPCL: Buy at 165, target 174, stop loss 162;

2] CESC: Buy at 100.50, target 106, stop loss 98; and

3] Crompton Greaves: Buy at 289.90, target 304, stop loss 285.

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

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.
More Less
Published: 04 Dec 2023, 06:56 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie