Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 31

  • Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — JSW Energy, BF Utilities, and Sona Blw Precision Forgings

Asit Manohar
Updated31 May 2024, 07:53 AM IST
Stock market today: Currently, the Nifty 50 index is precariously placed with the significant 50EMA zone lying near 22,380 levels, believes Vaishali Parekh of Prabhudas Lilladher.
Stock market today: Currently, the Nifty 50 index is precariously placed with the significant 50EMA zone lying near 22,380 levels, believes Vaishali Parekh of Prabhudas Lilladher.(Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Despite buying in banking stocks, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index lost 216 points and closed at 22,488, while the BSE Sensex shed 617 points and ended at 73,885. However, the Bank Nifty index gained 181 points and closed at 48,682. In the broad market, the mid-cap index crashed 1.21 percent, whereas the small-cap index nosedived 1.33 percent.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Nifty 50 index is precariously placed with the significant 50EMA zone lying near 22,380 levels. The Prabhudas Lilladher expert said the 50-stock index needs a decisive move past the 22,700 zone for the bias to improve. She noted that high volatility and fluctuations are expected in the coming days ahead of the Lok Sabha Election results.

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

On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks for today — JSW Energy, BF Utilities, and Sona Blw Precision Forgings or SONACOMS.

Stock market today

On the outlook for Nifty today, Vaishali Parekh said, "The Nifty 50 index has witnessed a steady slide for the fifth consecutive session, with bias weakening. The index is currently precariously placed, with the significant 50EMA zone lying near 22,380 levels. The index needs a decisive move past the 22,700 zone for the bias to improve, and with the election outcome event nearing, high volatility and fluctuations are expected in the coming days."

"The Bank Nifty index is better placed as compared to the Nifty index and has maintained above the important 50EMA level of the 48,000 zone as of now. A decisive breach above 49,000 levels is necessary to improve the bias while 47,200 levels would be a crucial and important support zone for the index," said Parekh.

Parekh went on to add that today, the Nifty has immediate support at 22,350 levels while resistance is seen at 22,650 levels. The Bank Nifty would have a daily range of 48,300 to 49,200 levels.

Buy or sell stocks by Vaishali Parekh

1] JSW Energy: Buy at 609, target 637, stop loss 597;

2] BF Utilities: Buy at 941, target 982, stop loss 920; and

3] SONACOMS: Buy at 638, target 668, stop loss 625.

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
₹68,885 Cr

3.15L

48%

₹6.7 T

$240.5 M

$459 M

$3 B

₹588.25 Cr

₹20,000 Cr

7.93 Cr

₹8,943 Cr

10%

20 Yrs

First Published:31 May 2024, 07:53 AM IST
HomeMarketsStock MarketsBuy or sell: Vaishali Parekh recommends three stocks to buy today — May 31

Most Active Stocks

Tata Steel

157.75
03:43 PM | 19 JUL 2024
-8.6 (-5.17%)

Tata Power

414.15
03:59 PM | 19 JUL 2024
-15.85 (-3.69%)

Bharat Electronics

306.30
03:45 PM | 19 JUL 2024
-7.2 (-2.3%)

Zee Entertainment Enterprises

137.55
03:57 PM | 19 JUL 2024
-4.9 (-3.44%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Tata Teleservices Maharashtra

102.11
03:59 PM | 19 JUL 2024
4.68 (4.8%)

Rail Vikas Nigam

614.00
03:59 PM | 19 JUL 2024
27.65 (4.72%)

Jubilant Pharmova

752.25
03:43 PM | 19 JUL 2024
25.3 (3.48%)

One 97 Communications

458.70
03:55 PM | 19 JUL 2024
13.65 (3.07%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,217.00292.00
    Chennai
    75,657.001,099.00
    Delhi
    74,485.00-659.00
    Kolkata
    74,485.00-73.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanBudget