BUY OR SELL: VAISHALI PAREKH RECOMMENDS THREE STOCKS TO BUY TODAY — APRIL 25

Buy or sell stocks for today: On account of strong global market sentiments, the Indian stock market finished higher for the fourth straight session on Wednesday. The Nifty 50 index gained 34 points and closed at the 22,402 level, the BSE Sensex surged 114 points and ended at the 73,852 mark whereas the Bank Nifty index went up 218 points and closed at the 48,189 level. Cash market volumes on the NSE were lower compared to the previous day, totaling ₹1.03 lakh crore. The broad market indices outperformed the Nifty 50 index, even as the advance-decline ratio stayed firm at 1.63:1.

Vaishali Parekh's stocks

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index is facing a hurdle at the 22,450 level. However, the Prabhudas Lilladher expert went on to add that the Indian stock market bias may improve once the 50-stock index goes past the crucial hurdle placed at 22,500 to 22,550 levels. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks for today — COLPAL, Ashok Leyland, and GNFC.

Stock market today

On the outlook for Nifty today, Vaishali Parekh said, "The Nifty 50 index has been hovering near the 22400 zone for the last 2 sessions finding resistance near 22450 levels, and for the bias to improve further, the index needs to move past the hurdle of 22500-22550 zone to establish conviction and thereafter anticipate for further rise in the coming days."

"The Bank Nifty has been rangebound since the last 3 sessions with the 48,300 level acting as the resistance zone while the 47,900 level is maintained which needs to sustain in the coming sessions. A decisive breach above 48,400 levels would further improve the bias and then can expect for further rise till the next target of 49,400 level," said Parekh.

Parekh went on to add that the immediate resistance for Nifty today is placed at 22,300 levels while the resistance would be seen at 22,550 levels. Bank Nifty would have a daily range of 47,800 to 48,600 levels.

Vaishali Parekh's stocks to buy today

1] COLPAL: Buy at ₹2748, target ₹2865, stop loss ₹2690;

2] Ashok Leyland: Buy at ₹177.60, target ₹187, stop loss ₹174; and

3] GNFC: Buy at ₹711, target ₹742, stop loss ₹695.

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 making any investment decisions.

2024-04-25T02:05:38Z dg43tfdfdgfd