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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 24
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 24

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Balkrishna Industries, Indo Count Industries Ltd or ICIL and Deepak Nitrite

Stock market today: Nifty 50 has maintained the stability with 19,650 zone as the near-term support zone in the last few sessions and would need a decisive breach above 19,850 levels, says Vaishali Parekh or Prabhudas Lilladher. (iStock)Premium
Stock market today: Nifty 50 has maintained the stability with 19,650 zone as the near-term support zone in the last few sessions and would need a decisive breach above 19,850 levels, says Vaishali Parekh or Prabhudas Lilladher. (iStock)

Buy or sell stocks for today: Selling pressure in pharma and IT sector stocks continue to dent bulls' attempt to outperform bears and Indian stock market ended mixed on Thursday. Nifty 50 index ended 9 points lower at 19,802 levels while BSE Sensex lost 5 points and closed at 66,017 mark. Nifty Bank index finished 127 points up at 43,577 levels. Among the sectors, Realty sector gained over 1 per cent while from the Energy space, OMC's stocks demonstrated signs of strength. The Auto sector remained in a range but 2-wheeler stocks were seen strengthening their uptrend.

Also Read: Dividend stocks: PFC, Manappuram Finance, 15 others to trade ex-dividend today

Intraday trading tips for Friday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall bias on Dalal Street is positive till Nifty is oscillating around its 19,850 hurdle. However, Prabhudas Lilladher expert maintained that Nifty 50 index needs to breach 19,850 hurdle for fresh bull trend in Indian stock market. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Balkrishna Industries, Indo Count Industries Ltd or ICIL and Deepak Nitrite.

Also Read: F&O Ban List: HPCL, India Cements, 7 others placed under futures & options ban for Nov 24

On outlook for Nifty today, Vaishali Parekh said, "Nifty 50 continue to oscillate between the tight range of 19,800 to 19,850 zone witnessing a consolidation phase for quite some time and with overall bias maintained positive is anticipating for a decent breakout above 19,850 zone. The index has maintained the stability with 19,650 zone as the near-term support zone in the last few sessions and would need a decisive breach above 19,850 levels."

"Bank Nifty also is witnessing a sluggish movement with a very narrow rangebound movement near 43,600 zone maintaining just above the significant 200 period MA level of 43,350 zone. As mentioned earlier, the index needs to breach above the important 50EMA level of 43,900 zone for further improvement in the bias," said Parekh.

Also Read: HDFC Securities initiates coverage on Sai Silks with 'buy' rating, sees over 35% upside – key reasons

Parekh went on to add that immediate support for Nifty today is placed at 19,700 while the resistance is seen at 19,900 levels. Bank Nifty would have a daily range of 43,300 to 43,900 levels.

Stocks to buy today

1] Balkrishna Industries: Buy at 2553, target 2660, stop loss 2515;

2] ICIL: Buy at 290, target 302, stop loss 285; and

3] Deepak Nitrite: Buy at 2206, target 2285, stop loss 2175.

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. R

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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: 24 Nov 2023, 06:59 AM IST
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