Buy or sell: Vaishali Parekh recommends three intraday stocks for today — 28 January 2025

Buy or sell stocks: The Indian stock markets crashed nearly 900 points due to a sharp sell-off across sectors and closed in the red on Monday, January 27. The Nifty 50 index closed 1.14 per cent lower at 22,829.15 points, compared to 23,092.20 points at the previous market close.

The BSE Sensex closed 1.08 per cent lower at 75,366.17 points, compared to 76,190.46 points at the previous stock market close. 

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50's losses for the day, below the support zone of 23,000, weakened the bias for the index. The expert recommends a very cautious approach among the market players for Nifty's outlook. Parekh estimates the Nifty 50 Spot index to find support at 22,700 points and face resistance at 23,000 points. The Bank Nifty index will likely move in the 47,600 to 48,500 range.

Parekh recommended three buy-or-sell stocks for Tuesday: Axis Bank Ltd, Rainbow Children's Medicare Ltd, and Indian Railway Catering and Tourism Corporation Ltd (IRCTC). 

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “A gap down opening below the important support zone of 23,000 has weakened the bias for the Nifty. A closing near the 22,800 zone has spurred a very cautious approach among the market players, with the index now precariously placed.” 

“The next major support would be near 22,500 levels while for the bias to improve, the index needs to move past the 23,000 zone and witness some stability,” said the stock market expert.

“Bank Nifty once again retested the previous low made near 47,900 level with weak bias and witnessing a gradual rise closing near 48,100 zone with overall sentiment maintained with a cautious view. The index needs to breach the 49,700 zone to establish conviction. A break below the 47,800 level shall trigger intensified selling pressure to drag the index further down,” Parekh said. 

The Nifty 50 Spot for today has support at 22,700 points and resistance at 23,000 points. The Bank Nifty index would have a daily range of 47,600 to 48,500.

Buy or sell stocks by Vaishali Parekh

1. Axis Bank Ltd. (AXISBANK): Buy at ₹947; Target at ₹980; Stop Loss at ₹925.

2. Rainbow Children's Medicare Ltd. (RAINBOW): Buy at ₹1,380; Target at ₹1,440; Stop Loss at ₹1,350.

3. Indian Railway Catering and Tourism Corporation Ltd. (IRCTC): Sell at ₹750; Target at ₹720; Stop Loss at ₹770.

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.