Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 14

  • Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — MFSL, Hindustan Oil Exploration Company, and Godrej Properties

Asit Manohar
Updated14 Jun 2024, 07:50 AM IST
Stock market today: A decisive close by Nifty above 23,450 can be assumed as a fresh rally in the Indian stock market, believes Vaishali Parekh of Prabhudas Lilladher.
Stock market today: A decisive close by Nifty above 23,450 can be assumed as a fresh rally in the Indian stock market, believes Vaishali Parekh of Prabhudas Lilladher.(Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Despite weak global market sentiments on the hawkish US Fed meeting outcome, the Indian stock market ended higher for the third straight session. The Nifty 50 index finished 75 points higher at 23,398, and the BSE Sensex scaled 204 points north and ended at 76,810. However, the Bank Nifty index went off 48 points and closed at 49,846. Cash market volumes on the NSE rose about 7% to 1.29 lakh crore. The broad market indices rose more than the Nifty even as the advance-decline ratio fell to 1.52:1.

Vaishali Parekh's stock recommendations for today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that the Nifty 50 index faces resistance from 23,400 to 23,450. The Prabhhudas Lilladher expert said that a decisive close by Nifty above 23,450 can be assumed as a fresh rally in the Indian stock market. She noted that Nifty today has immediate support at 23,200.

Also Read: Trade setup for stock market today: Five stocks to buy or sell on Friday

Regarding stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks for today: Max Financial Services Limited, Hindustan Oil Exploration Company Ltd, and Godrej Properties.

Stock market today

On the outlook for the Nifty 50 index, Vaishali Parekh said, "Nifty has witnessed a sluggish and gradual rise during the last four sessions, finding resistance near the 23,400 to 23,450 zone with some profit booking witnessed in the second half of the trading session. The index has got the near-term support zone near the 23,200 zone, and a decisive close above 23,400 shall trigger a further rise to the next target of 23,800."

"The Bank Nifty index has been in consolidation for the past four sessions, finding resistance near the 50,200 zones with support maintained near 49,500 levels, and a decisive breach above 50,200 is much needed to trigger a further fresh upward move for an initial target of 51,000 level," said Parekh.

Parekh went on to add that the Nifty today has immediate support at 23200, while the resistance is at 23,550. The Bank Nifty will have a daily range of 49,500 to 50,200.

Vaishali Parekh's stocks to buy today

1] MFSL: Buy at 988, target 1025, stop loss 968;

2] Hindustan Oil Exploration: Buy at 188.20, target 197, stop loss 184; and

3] Godrej Properties: Buy at 3030, target 3150, stop loss 2965.

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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$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:14 Jun 2024, 07:50 AM IST
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