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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 25
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 25

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Bharat Forge, LIC Housing Finance, and Tata Steel

Stock market today: A fresh uptrend can be expected on Dalal Street only after the Nifty 50 index breaches its hurdle placed at 21,750 levels on a closing basis, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: A fresh uptrend can be expected on Dalal Street only after the Nifty 50 index breaches its hurdle placed at 21,750 levels on a closing basis, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: After a cautious opening, the Indian stock market witnessed a sharp recovery in the second half and ended higher on Wednesday. The Nifty 50 index finished 215 points higher at the 21,453 level, the BSE Sensex surged 689 points and closed at the 71,060 mark while Bank Nifty ended 67 points higher at the 45,082 level. 

After witnessing a sharp fall on Tuesday, the Nifty Mid-cap 100 and the Small-cap 100 Indices recouped some of the losses where they gained by 1.80% and 1.70% respectively. Advancing shares outnumbered the declining shares as the advance-decline ratio stood at 1.83 on BSE.

Also Read: Dividend stocks: IIFL Finance, Mastek, 2 other stocks to trade ex-dividend today

Intraday trading tips for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that market sentiment has improved after the pullback rally on Wednesday. The Prabhudas Lilladher expert maintained that the Nifty 50 index has managed to sustain above its crucial 21,100 support level but the 50-stock index may face a hurdle at 21,500 and 21,750 levels. Vaishali Parekh went on to add that for a fresh uptrend on Dalal Street, the Nifty 50 index needs to breach this hurdle on a closing basis.

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Bharat Forge, LIC Housing Finance, and Tata Steel.

Also Read: Stock market today: Zee shares placed under F&O ban

Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "Nifty opened near the low of the significant 50EMA level of 21,100 zones from where it bounced back and amid some volatility indicated a decent pullback to close on a positive note near 21,450 levels improving the sentiment drastically. Volatility can be anticipated with the index having the next hurdles at the 21,500 and 21,750 zone which needs to be breached for the trend to improve and expect further rise in the coming days."

On the outlook for the Bank Nifty today, Vaishali Parekh said, "Bank Nifty also maintained the support near the important 200 period MA of 44,600 zone during the intraday session and managed to close marginally in the green with some pullback witnessed in the last hours of the session. The index would have the crucial hurdle at the 46,300 zone of the significant 50EMA level and would need a decisive breach above that zone for the bias to improve."

Also Read: Oil prices rise on US crude withdrawal, China stimulus; Brent nears $80/bbl

Parekh went on to add that immediate support for Nifty today is placed at 21,300 while the resistance would be at 21,600 level. The Bank Nifty would have a daily range of 44,700 to 45,600 levels.

Stocks to buy today

1] Bharat Forge: Buy at 1214.40, target 1265, stop loss 1195;

2] LIC Housing Finance: Buy at 577.40, target 600, stop loss 568; and

3] Tata Steel: Buy at 132.30, target 141, stop loss 129.

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 decisions.o R R

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 25 Jan 2024, 06:48 AM IST
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