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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 10
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 10

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — HCL Technologies, Grasim Industries, and NTPC

Stock market today: Nifty witnessed a highly volatile week with huge swings oscillating the index within a range of 2,000 points but managed to end the week on a positive note near 23,300 zones with bias maintained positive, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty witnessed a highly volatile week with huge swings oscillating the index within a range of 2,000 points but managed to end the week on a positive note near 23,300 zones with bias maintained positive, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Buoyed by the commentary by the dovish RBI and hike in FY25 GDP growth forecast, the Indian stock market ended higher for the third straight session on Friday last week. The Nifty 50 index gained 468 points and closed at 23,290, whereas the BSE Sensex surged 1618 points and ended at 76,693. The Bank Nifty index finished 511 points higher at 49,803. However, the India VIX Index gained 0.49 percent and finished at 16.88. The small-cap index ended 2.18 percent higher in the broad market, whereas the mid-cap index finished 1.28 percent.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the outlook for the Indian stock market is positive as the Nifty 50 index made a strong base at 22,800 and ended around the 23,300 mark. The Prabhudas Lilladher expert said the 50-stock index is headed for the 23,800 level. Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy-of-sell stocks: HCL Technologies, Grasim Industries, and NTPC.

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Stock market today

On the outlook for Nifty today, Vaishali Parekh said, "Nifty witnessed a highly volatile week with huge swings oscillating the index within a range of 2,000 points but managed to end the week on a positive note near 23,300 zones with bias maintained positive. The index would have the crucial support zone at 22,800 levels while on the upside, a decisive breach above the peak zone shall trigger the next target of 23,800 levels in the coming days."

"The Bank Nifty index was subjected to high fluctuations during the week, maintaining the support near 200 period MA at 46,200 levels and regaining strength would need to breach above the 51,000 zone for fresh breakout and trigger for higher targets of 52,800 and 53,500 levels in the coming days," said Parekh.

Parekh went on to add that the Nifty today has immediate support at 23,100 levels, while the resistance is at 23,500. The Bank Nifty will have a daily range of 49,200 to 50,500 levels.

Vaishali Parekh's stock recommendations

1] HCL Tech: Buy at 1431, target 1500, stop loss 1400;

2] Grasim Industries: Buy at 2380, target 2490, stop loss 2330; and

3] NTPC: Buy at 360.60, target 378, stop loss 352.

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.

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Asit Manohar
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Published: 10 Jun 2024, 06:57 AM IST
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