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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends two stocks to buy today — 26th December
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Buy or sell: Vaishali Parekh recommends two stocks to buy today — 26th December

Buy or sell stocks: Vaishali Parekh has recommended two stocks to buy today — Clean Science and Technology and laurus Labs

Stock market today: Nifty 50 index is trading in 21,000 to 21,500 range, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: Nifty 50 index is trading in 21,000 to 21,500 range, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: After logging gains for seven week in a row, Indian stock market finally took a pause last week. After topsy-turvy trends throughout the week, Nifty 50 index ended 0.55 per cent or 113 points lower while BSE Sensex lost 257 points or 0.36 per cent in the previous week. Nifty Bank index lost 493 points or 1.03 per cent in last five sessions.

Among sectors, FMCG, oil & gas and pharma index gained over 1 per cent whereas profit booking were seen in PSU banks, private banks and media indices. PSU Bank index lost the most shed over 3 per cent.

Intraday trading tips for Tuesday

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that that Nifty 50 index has taken support at 21,000 levels and the 50-stock index is trying to pull back after recent profit booking trigger. Prabhudas Lilladher expert went on to add that Nifty today is facing hurdle at 21,500 levels and bullish or bearish trend can be assumed on breakage of either side of 21,000 to 21,500 range.

Buy or sell stocks

On stocks to buy today, Vaishali Parekh recommended two intraday stocks for today and those day trading stocks are Clean Science and Technology and laurus Labs.

Stock market today

On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty after taking support near the 21,000 zone has witnessed a decent pullback to improve the bias once again and would need a decisive breach above the important resistance zone of 21,500 levels to carry on with the momentum and confirm a breakout for further rise in the coming days. The index has maintained the strong uptrend as of now and only a decisive breach below 20,800 zone shall weaken the bias and expect for further slide."

"Bank Nifty indicating some weakness, witnessed some profit booking during the intraday session to end in the red near 47,500 level. Once again as mentioned earlier, the important support zone would be maintained near 46,300 levels while on the upside a decisive breach above 48,200 is necessary to confirm a breakout for further fresh upward move," said Parekh.

Parekh went on to add that immediate support for Nifty today is placed at 21,200 zone while the resistance is seen at 21,500 level. BankNifty would have a daily range of 47,100 to 47,800 levels.

Stocks to buy today

1] Clean Science and Technology: Buy at 1517, target 1590, stop loss 1495; and

2] Laurus Labs: Buy at 414.55, target 432, stop loss 408.

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. Download The Mint News App to get Daily Market Updates.
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Published: 26 Dec 2023, 06:35 AM IST
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