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

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Bajaj Holdings, MTAR Technologies and New India Assurance

Stock market today: Nifty 50 index has crucial support n ow placed at 19,400 whereas 50-stock index is facing resistance at 19,700 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index has crucial support n ow placed at 19,400 whereas 50-stock index is facing resistance at 19,700 levels, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: Following weak global market cues, Indian stock market ended lower on third day in a row on Friday last week. Nifty 50 index fell 82 points and closed at 19,542 levels, 30-stock index BSE Sensex corrected 231 points and ended at 65,397 mark whereas Bank Nifty index finished 31 points lower at 43,723 levels. In broad market, mid-cap index crashed over one per cent while small-cap index went down 0.76 per cent on last session of the week gone by.

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Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street sentiments have turned cautious. However, Prabhudas Lilladher expert maintained that Nifty 50 index has managed to sustain above 19,500 levels. On stocks to buy today, Vaishali Parekh recommended three stocks to buy today — Bajaj Holdings, MTAR Technologies and New India Assurance.

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On outlook for Nifty today, Vaishali Parekh said, "Nifty once again witnessed a gap down opening with a weak intraday session with crucial support of 19,500 zone sustained as of now and is precariously placed with sentiment maintained with a cautious approach. The index holding on to 19,500 levels is very crucial and a breach below shall trigger for further intensified selling pressure."

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'Bank Nifty witnessed a narrow rangebound session hovering near the 43,700 to 43,800 zone for the last 2 sessions with the bias maintained little bit weak and has the near-term crucial support zone of 43,400 levels. A decisive breach below the 43,400 zone shall further weaken the overall trend and expect for further slide till 42,000 levels," said Parekh.

Parekh went on to add that crucial support for Nifty today is now placed at 19,400 levels while the resistance is seen at 19,700 levels. Bank Nifty would have the daily range of 43,400 to 44,000 levels.

Stocks to buy today

1] Bajaj Holdings: Buy at 7055, target 7400, stop loss 6940;

2] MTAR Technologies: Buy at 2732, target 2890, stop loss 2670; and

3] New India Assurance: Buy at 149, target 160, stop loss 146.

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 decisions.

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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 Oct 2023, 06:41 AM IST
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