Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 4
Buy or sell stocks: Vaishali Parekh recommends three stocks for today — Ramco Cements, ONGC, and KPI Green Energy.
Buy or sell stocks: The benchmark indices of the Indian stock market, Sensex and Nifty 50, ended higher after the special Muhurat Trading session on Friday, November 1. Sectors like Nifty Auto, Nifty Realty, Nifty Oil & Gas, and Nifty PSU Bank were among the indices that gained in Friday's trading session. Nifty 50 closed 0.41 per cent higher at 24,304.35 points, compared to 24,205.35 points at the previous market close.
The BSE Sensex closed 0.42 per cent higher at 79,724.12 points, compared to 79,389.06 points at the previous market close.
Vaishali Parekh's stocks to buy today
Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said that the Nifty has gained some momentum during the session, but overall, the bias is maintained as a cautious approach with another lower top formation on the daily chart. Parekh estimates the Nifty 50 Spot index to find support at 24,100 points and face resistance at 24,500 points. The Bank Nifty index will likely move in a range of 51,200 to 52,000 today.
For today, Parekh recommended three buy-or-sell stocks: The Ramco Cements Ltd, Oil and Natural Gas Corporation Ltd (ONGC), and KPI Green Energy Ltd.
Stock market today
On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty gained some momentum during the truncated session but overall, the bias is maintained with a cautious approach with another lower top formation on the daily chart and has the crucial support zone of 24,000 levels which if broken can turn the trend weak and can anticipate for fresh downward movement.”
“The index, as mentioned earlier, would have the major and important support zone at the significant 200 period MA at 23,400 zone which would be the deciding factor in the coming days,” said the stock market expert.
“Bank Nifty is hovering near the 51,700 zone which is where the important 50EMA level lies and a decisive breach breach below 51,200 zone shall trigger for further slide with the bias turning weak. The index would have the crucial support near 50,400 levels below which the trend would turn bearish anticipating for fresh intensified selling pressure,” said Parekh.
Parekh said that the Nifty 50 Spot for today has support at 24,100 points, while the resistance lies at 24,500 points. The Bank Nifty index would have a daily range of 51,200 to 52,000.
Buy or sell stocks by Vaishali Parekh
1. The Ramco Cements Ltd. (RAMCOCEM): Buy at ₹891; Target at ₹908; Stop Loss at ₹880.
2. Oil and Natural Gas Corporation Ltd. (ONGC): Buy at ₹270; Target at ₹283; Stop Loss at ₹263.
3. KPI Green Energy Ltd. (KPIGREEN): Buy at ₹810; Target at ₹840; Stop Loss at ₹795.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking 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.
- Top Gainers
- Top Losers
- 52 Week High