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

Buy or sell stocks: Vaishali Parekh recommends three stocks to buy today — Vedanta, Apollo Tyres, and Hindustan Copper

Stock market today: Vaishali Parekh of Prabhudas Lilladher believes that overall sentiment on Dalal Street has improved after the Nifty 50 index closed the 21,800 level. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Vaishali Parekh of Prabhudas Lilladher believes that overall sentiment on Dalal Street has improved after the Nifty 50 index closed the 21,800 level. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Posting a strong recovery from morning lows aided by recovery in bank stocks, the Indian stock market ended higher on Wednesday. The Nifty 50 index finished 96 points higher at the 21,840 level, the BSE Sensex surged 267 points and closed at the 71,822 mark while the Bank Nifty index ended 405 points up at the 45,908 level. 

In the broad market, both small-cap and mid-cap indices outperformed Nifty even as the advance-decline ratio recovered sharply to 1.95:1. Oil & Gas, and Metal stocks also witnessed heightened activity in the previous session.

Intraday trading tips for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall sentiment on Dalal Street has improved after the Nifty 50 index closed the 21,800 level. The Prabhudas Lilladher expert anticipated further extension of Wednesday's pullback provided the 50-stock index sustains above 21,750 to 21,770 levels. Vaishali Parekh went on to add that a further rise in the Bank Nifty today can be expected once the index breaches above 46,100 level.

On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today — Vedanta, Apollo Tyres, and Hindustan Copper.

Stock market today

On the outlook of the Nifty 50 index, Vaishali Parekh said, "Nifty after opening with a gap down on a weak note near 21530 zone, witnessed a strong pullback as the day progressed and after a long time breached above the 21800 level to improve the bias and sentiment anticipating for extended gains in the coming sessions. The index would need to sustain above the 21750-21770 zone for the bias to remain intact and expect for next targets to retest the previous levels of 22000 and 22150 in the coming days."

"Bank Nifty also gave a strong recovery from the 44900 zone of the significant 200 period MA and gained momentum as the day progressed to cross above the 46000 level during the intraday session. With the index closing on a decent note, further ahead a decisive breach above the 50EMA level of the 46100 zone shall further improve the bias and can anticipate further rise," said Parekh.

Parekh went on to add that the immediate support for Nifty today is placed at 21,700 while the resistance is seen at the 22,000 mark. Bank Nifty would have a daily range of 45,500 to 46,500 levels.

Stocks to buy today

1] Vedanta: Buy at 279.65, target 293, stop loss 273;

2] Apollo Tyres: Buy at 517.95, target 542, stop loss 505; and

3] Hindustan Copper: Buy at 259.45, target 272, stop loss 253.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 15 Feb 2024, 07:00 AM IST
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