Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 19

  • Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — GNFC, IndusInd Bank, and Manappuram Finance

Asit Manohar
First Published19 Jun 2024, 06:52 AM IST
Stock market today: The Nifty 50 index has picked up momentum in the last 4-5 sessions and the 50-stock index is heading for the near-term targets of 23,800 and 24,500, believes Vaishali Parekh of Prabhudas Lilladher.
Stock market today: The Nifty 50 index has picked up momentum in the last 4-5 sessions and the 50-stock index is heading for the near-term targets of 23,800 and 24,500, believes Vaishali Parekh of Prabhudas Lilladher.(Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Following strong global cues, the Indian stock market ended higher for the fourth straight session on Tuesday. The Nifty 50 index went up 92 points and closed at 23,557, while the BSE Sensex shot up 308 points and finished at 77,301. The Bank Nifty index surged 438 points and ended at 50,440. Cash market volumes rose another 6 percent to 1.43 lakh crore. The small-cap index outshined the frontline indices even as the advance-decline ratio fell to 1.22:1, remaining above 1:1.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that the Nifty 50 index has picked up momentum in the last 4-5 sessions. The Prabhudas Lilladher expert said that the Indian stock market bias is positive, and the Nifty is heading for its near-term target of 23,800. She said that if it breaches above 23,800, the 50-stock index may touch 24,500 in the short term.

Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy-or-sell stocks: GNFC, IndusInd Bank, and Manappuram Finance.

Stock market today

On the outlook for Nifty today, Vaishali Parekh said, "Nifty sustaining above the 23,200 zone, has gradually picked up in the last 4-5 sessions to make new highs and is aiming for the next near-term target of 23,800 levels with bias maintained strong. With the sentiment improving, the index is slowly marching ahead with crucial support maintained near the 23,200 zones while a decisive breach above the 23,800 zones shall trigger for next target of 24,500 levels in the coming days."

"The Bank Nifty index has also gradually picked up strength, and once a decisive breach above 51,000 is confirmed, then shall further strengthen the bias for next targets of 52,400 and 53,500 levels in the coming days with support maintained near the 49,600 zone," said Parekh.

Parekh went on to add that the Nifty today has immediate support at 23,400, while the resistance is at 23,700. The Bank Nifty will have a daily range of 50,000 to 51,000.

Buy or sell stocks by Vaishali Parekh

1] GNFC: Buy at 703.20, target 737, stop loss 688;

2] IndusInd Bank: Buy at 1508, target 1560, stop loss 1475; and

3] Manappuram Finance: Buy at 191.75, target 201, stop loss 187.

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.

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.MoreLess

News in Numbers

Numbers that help you understand news better
$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:19 Jun 2024, 06:52 AM IST
HomeMarketsStock MarketsBuy or sell: Vaishali Parekh recommends three stocks to buy today — June 19

Most Active Stocks

Indian Oil Corporation

166.90
03:58 PM | 12 JUL 2024
-7.6 (-4.36%)

Tata Steel

168.70
03:58 PM | 12 JUL 2024
-0.3 (-0.18%)

Bharat Electronics

333.30
03:59 PM | 12 JUL 2024
-2.25 (-0.67%)

Wipro

560.05
03:56 PM | 12 JUL 2024
25.7 (4.81%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

KPIT Technologies

1,864.00
03:57 PM | 12 JUL 2024
154.25 (9.02%)

Inox Wind

171.90
03:59 PM | 12 JUL 2024
13.85 (8.76%)

Zensar Technologies

768.20
03:29 PM | 12 JUL 2024
50.45 (7.03%)

Coforge

5,950.05
03:29 PM | 12 JUL 2024
386.65 (6.95%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,481.00218.00
    Chennai
    73,972.00-727.00
    Delhi
    74,771.00-218.00
    Kolkata
    73,972.00-218.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.01
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts