Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 15
- Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — BF Utilities, UCO Bank, and JK Tyre
Buy or sell stocks for today: Despite weak global cues, the Indian stock market extended its winning streak for the fourth straight session on Friday. Nifty 50 index finished at the 21,894 level after climbing to a new peak of 21,928. BSE Sensex ended at the 72,568 mark after hitting a new peak of 72,568. The Nifty Bank index gained 271 points and closed at 47,709 level. Broad market indices rose less than the Nifty even as the focus remained on large-cap IT stocks, Bank stocks, and Reliance. The advance-decline ratio remained positive at 1.09:1.
Intraday trading tips
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the market mood has turned positive after a strong rally on Friday. Prabhudas Lilladher expert maintained that the Nifty 50 index has now potential to go up to the 22,300 level in the short term. She said that Nifty today has an immediate hurdle placed at 22,000 levels whereas the 50-stock index has crucial support placed at the 21,750 mark.
On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — BF Utilities, UCO Bank, and JK Tyre.
Stock market today
On the outlook for Nifty 50 today, Vaishali Parekh said, "Nifty opened on a strong note with a gap up and continued with the positive momentum as the day progressed on the back of strong move from IT giants Infosys and TCS to scale the 21,900 zone making new high once again. As mentioned earlier, the index has further upside potential of 22,300 levels with bias and sentiment remaining strong along with frontline stocks participating indicating strength and gaining momentum."
"Bank Nifty witnessed some positive moves with ICICI Bank, SBI, and Kotak Bank indicating improvement, but HDFC Bank failed to participate which restricted the index to end near the 47,700 zone with a gain of 270 points. The index would need a decisive breach above the 48,400 zone to confirm a breakout and expect for further fresh upward move till the 49,800 level," said Parekh.
Parekh went on to add that immediate support for Nifty today is placed at 21,750 while the resistance is seen at 22,000 levels. Bank Nifty would have a daily range of 47,400 to 48,000 levels.
Stocks to buy today
1] BF Utilities: Buy at ₹608.60, target ₹640, stop loss ₹598;
2] UCO Bank: Buy at ₹41.45, target ₹44, stop loss ₹40.50; and
3] JK Tyre: Buy at ₹404.65, target ₹420, stop loss ₹397.
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 making any investment decision.
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