Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 28 | Mint
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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 28
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 28

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Torrent Power, MRPL and Gabriel India

Stock market today: Nifty 50 index needs to breach 19,850 hurdle decisively for gresh uptrend, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index needs to breach 19,850 hurdle decisively for gresh uptrend, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Last week, Indian stock market remained range-bound despite Nifty 50 index forming bullish candle on the weekly chart pattern. The 50-stock index went off 7 points and closed at 19,794 levels, BSE Sensex ended 47 points lower at 65,970 mark whereas Bank Nifty index gained 191 points and finished at 43,769 levels on Friday last week. Broad market indices ended marginally higher even as the advance-decline ratio closed at 1.16:1.

Intraday trading tips for Tuesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Nifty 50 index is facing hurdle at 19,800 to 19,850 zone. Prabhudas Lilladher expert went on to add that the 50-stock index needs to breach this hurdle decisively for gresh uptrend and touch previous all-time high levels. On stocks to buy today, Vaishali Parekh recommended three stocks to buy today — Torrent Power, MRPL and Gabriel India.

Also Read: Buy or sell: Sumeet Bagadia recommends three stocks to buy this week

Stock market today

On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty once again was gripped near the zone of 19800-19850 levels throughout the day as was witnessed in the last 5-6 sessions without any major directional move. As mentioned earlier, the index needs a decisive breach above the 19850 zone for a clear breakout and anticipate for further rise to retest the previous peak zone."

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On outlook for Bank Nifty today, Prabhudas Lilladher expert added, "Bank Nifty witnessed some pullback since the last session from near the significant 200 period MA to touch 43,800 zone to slightly improve the bias. As mentioned earlier, the index needs to breach above the important 50EMA level of 43,900 zone for further improvement in the bias and anticipate for further rise in the coming days."

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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 43,500 to 44,000 levels.

Stocks to buy today

1] Torrent Power: Buy at 816, target 840, stop loss 805;

2] MRPL: Buy at 118.90, target 124, stop loss 117; and

3] Gabriel India: Buy at 409.90, target 430, stop loss 403.

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.d

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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: 28 Nov 2023, 06:35 AM IST
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