Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 7, 2025
Buy or sell stocks: Vaishali Parekh recommends three stocks to buy today — SJVN, ICICI Securities, and GRM Overseas.
Buy or sell stocks: The Indian stock markets closed in the red on Thursday, February 6, weighed down by index heavyweight stocks and the escalating US-China trade war. The Nifty 50 index closed 0.39 per cent lower at 23,603.35 points, compared to 23,696.30 points at the previous stock market close.
The BSE Sensex closed 0.27 per cent lower at 78,058.16 points, compared to 78,271.28 points at the previous market close.
Vaishali Parekh's stocks to buy today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 index was subject to some profit booking and slipped below the 50-EMA zone of 23,660 levels. Parekh estimates the Nifty 50 Spot index to find support at 23,500 points and face resistance at 23,800 points. The Bank Nifty index will likely move in the 50,000 to 50,900 range.
Vaishali Parekh recommended three buy-or-sell stocks for Friday: SJVN Ltd, ICICI Securities Ltd, and GRM Overseas Ltd.
Stock market today
On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Finding resistance near the 23,750 zone, Nifty witnessed some profit booking and slipped below the 50-EMA zone of 23,660, once again to form a lower top formation on the daily chart, awaiting the RBI Policy in the coming session.”
“The index would have the near-term support at 23,500 zone, which needs to be sustained. On the upside, it has the important 200-period MA at 24,000 levels, which needs to be breached decisively to establish conviction for a further rise in the coming days,” said the stock market expert.
“Bank Nifty once again remained rangebound resisting near the 50,500 zone during the session, once again maintaining support near 50,300 levels, before the RBI Policy announcement day. The bias is still optimistic, with the 49,700 level as the important support zone. On the upside, it has the significant 200 period-MA at 50,900 levels, which needs to be breached to carry on with the positive move,” said Parekh.
Parekh said that the Nifty 50 Spot for today has support at 23,500 points and resistance at 23,800 points. The Bank Nifty index would have a daily range of 50,000 to 50,900.
Buy or sell stocks by Vaishali Parekh
1. SJVN Ltd. (SJVN): Buy at ₹97.5; Target at ₹103; Stop Loss at ₹94.
2. ICICI Securities Ltd. (ISEC): Buy at ₹849; Target at ₹880; Stop Loss at ₹810.
3. GRM Overseas Ltd. (GRMOVER): Buy at ₹241; Target at ₹255; Stop Loss at ₹235.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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