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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 23
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 23

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Bata India, Greaves Cotton, JSW Energy

Stock market today: Nifty 50 index needs to breach 19,850 hurdle to confirm further upside trend, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index needs to breach 19,850 hurdle to confirm further upside trend, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Aided by rally in IT and auto stocks, Indian stock market registered sharp recovery and finished higher for second straight session on Wednesday. Nifty 50 index gained 28 points and closed at 19,811 levels, BSE Sensex added 92 points and ended at 62,023 mark. However, Bank Nifty index lost 239 points and closed at 43,449 levels. Mid-cap index rose more than the Nifty 50 index while small-cap index lagged even as the advance decline ratio stood at even.

Intraday trading tips for Thursday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Indian stock market is range-bound and Nifty 50 index needs a decisive breach above the 19850 levels to confirm an upward directional move. On stocks to buy today, Vaishali Parekh recommended three stocks to buy today — Bata India, Greaves Cotton and JSW Energy.

Stock market today

On outlook for Nifty today, Vaishali Parekh said, "Nifty witnessed a volatile session once again resisting near the 19,850 zone touching an intraday low of 19,700 levels to recover strongly and end in the green near 19800 zone. The index has been hovering near the 19,700 to 19,850 zone for quite some time and need a decisive breach above the 19,850 levels to confirm an upward directional move."

Also Read: Dividend stocks: Amrutanjan, Premco, P&G shares to trade ex-dividend today

"Bank Nifty once again witnessing weakness slipped down towards the important 200 period MA during the intraday session to recover to some extent and closed in the red near the 43,450 zone. The index has got the crucial support zone at 43,300 zone of the 200 period MA and a decisive breach below shall further weaken the trend to turn bearish," said Parekh.

Parekh went on to add that support for Nifty today is placed at 19,700 levels while the resistance is seen at 19,900 levels. Bank Nifty would have a daily range of 43,200 to 43,800 levels.

Also Read: F&O Ban List: BHEL, MCX, RBL Bank, 6 others placed under futures & options ban for Nov 23

Stocks to buy today

1] Bata India: Buy at 1619, target 1690, stop loss 1595;

2] Greaves Cotton: Buy at 132.40, target 140, stop loss 130; and

3] JSW Energy: Buy at Rs418, target 436, stop loss 412.

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 taking any investment decision.

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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. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 23 Nov 2023, 07:03 AM IST
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