Active Stocks
Thu May 23 2024 15:59:05
  1. Tata Steel share price
  2. 175.45 1.24%
  1. NTPC share price
  2. 372.30 -0.43%
  1. Power Grid Corporation Of India share price
  2. 319.75 -1.86%
  1. Indusind Bank share price
  2. 1,442.00 2.29%
  1. State Bank Of India share price
  2. 832.35 1.59%
Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 15
BackBack

Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 15

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Birlasoft, GAIL, and RCF

Stock market today: The Indian stock market sentiment has improved after the decent pullback rally on Dalal Street, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: The Indian stock market sentiment has improved after the decent pullback rally on Dalal Street, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Despite mixed global market sentiments, the Indian stock market ended higher for the third straight session on Tuesday. The Nifty 50 index finished 113 points higher at 22,217, while the BSE Sensex gained 328 points and closed at 73,104. The Bank Nifty index gained 105 points and closed at 47,859. Cash market volumes on the NSE were down about 7% to 0.91 lakh crore. The broad market indices outperformed the frontline Indian indices even as the advance-decline ratio rose to 3.24:1. These trends indicate a positive market sentiment and potential for further growth in the coming sessions.

Vaishali Parekh's stocks to buy today

Insights from Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, carry significant weight in the market. She believes that the Indian stock market sentiment has improved after the decent pullback rally on Dalal Street. Her analysis suggests that the Nifty 50 index may touch 22,550 in the short term. Based on her expertise, she recommends three stocks to buy today: Birlasoft, GAIL, and RCF.

Stock market today

On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index witnessed a decent pullback from the 21800 zone to arrive near the significant 50EMA zone of 22220 levels, gaining strength and with improving bias. It is anticipated to rise further for the next 22550 levels in the coming sessions. The zone near the 100-period MA of 22000 levels would be the crucial support zone that needs to be sustained to maintain the bias intact."

"The Bank Nifty index has witnessed a gradual pullback compared to the Nifty index to move past the 50EMA level of 47700, improving the bias. A decisive breach above the 48200 zone would further strengthen the upward movement. The near-term important support zone would be the 100-period MA zone of 47200 levels, which is also where the rising trendline zone is positioned," said Parekh.

Parekh went on to add that Nifty today has immediate support at 22100 levels while resistance is seen at 22350 levels. Bank Nifty would have a daily range of 47500-48300 levels. However, it's important to note that stock trading involves risks and these recommendations should not be considered as financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.

Stocks to buy today

1] Birlasoft: Buy at 610, target 637, stop loss 596;

2] GAIL: Buy at 200, target 210, stop loss 295; and

3] RCF: Buy at 144, target 150, stop loss 140.50.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

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: 15 May 2024, 08:32 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