Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 30
BackBack

Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 30

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — NCL Industries, SeQuent, and BLS International

Stock market today: Vaishali Parekh of Prabhudas Lilladher believes Nifty 50 index needs to surpass 21,700 decisively for further upside; Bank Nifty index needs to breach crucial hurdle at 46,300 for scaling further. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Vaishali Parekh of Prabhudas Lilladher believes Nifty 50 index needs to surpass 21,700 decisively for further upside; Bank Nifty index needs to breach crucial hurdle at 46,300 for scaling further. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Following strong global cues, the Indian stock market witnessed strong upside on Monday. The Nifty 50 index logged the biggest intraday gain since December 4, 2023, while the other two key benchmark indices showed a sharp upside move in the previous session. The Nifty 50 index surged 385 points and closed at a 21,737 level, the BSE Sensex shot up 1240 points and ended at the 71,941 mark whereas the Bank Nifty index finished 576 points higher at the 45,442 mark.

Intraday trading tips for Tuesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index is in a strong resistance zone. The Prabhudas Lilladher expert maintained that the Nifty 50 index needs to go past 21,700 decisively to further boost the upside trend on Dalal Street. Vaishali Parekh went on to add that the Bank Nifty index needs to breach its crucial hurdle placed at 46,300 for scaling further upside.

Also Read: Shares of Persistent Systems, Gothi Plascon, Siemens to trade ex-dividend today

On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — NCL Industries, SeQuent, and BLS International.

Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "Nifty after opening on a positive note, carried on with the strong upward move as the day progressed on the back of strong performance from RIL which gained by a significant 7% and helped the index to move past the 21,700 zone decisively further strengthening the bias. The index would now have the crucial barrier zone of 21,750 levels which needs to be breached to expect for retesting the all-time high level of 22,124 zone."

"Bank Nifty has regained from near the significant 200 period MA of 44700 zone and gained by more than 500 points to close above the important 100 period MA of 45350 level. As mentioned earlier, the index would need a decisive breach above the important hurdle at the 46300 zone of the significant 50EMA level for the overall bias to improve," said Parekh.

Parekh went on to add that immediate support for Nifty today is placed at 21,600 while the resistance would be at the 21,900 mark. The Bank Nifty would have a daily range of 45,000 to 45,900 levels.

Stocks to buy today

1] NCL Industries: Buy at 234, target 242, stop loss 228;

2] SeQuent: Buy at 139.55, target 147, stop loss 136; and

3] BLS International: Buy at 401.60, target 418, stop loss 394.

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 30 Jan 2024, 07:39 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App