Buy or sell stocks for today: After showing upside movement in the first four sessions last week, the Indian stock market slipped into the profit-booking zone on Friday. The nifty 50 index went off 33 points and closed at 24,010, whereas the BSE Sensex shed 210 points and finished at 79,032. The Bank Nifty index ended 469 points lower at 52,342. However, the broad market outperformed the frontline indices and finished positively. The small-cap index ended 0.56 percent higher while the mid-cap index finished 0.41 percent higher on the previous session.
Vaishali Parekh’s stocks to buy today
Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that the overall Indian stock market sentiment is optimistic, as the Nifty 50 index gained around 800 points last week. The Prabhudas Lilladher expert said that the 50-stock index has crucial support at 23,500, whereas the frontline index is not heading for the next target of 24,500.
Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy or sell stocks on Monday — Balkrishna Industries, Steel Authority of India Limited or SAIL, and KPIT Technologies.
Stock market today
On the outlook for the Nifty today, Vaishali Parekh said, “Nifty has witnessed a decent rally during the week, gaining almost 800 points to end on a high note above the 24,000 zone with bias maintained strong and overall sentiment remaining optimistic. The index has got the next near-term target of 24,500 levels as mentioned earlier, and 23,500 would be maintained as the important support as of now.”
“The Bank Nifty index gained strength breaching the 52,000 zones during the week to scale above the 53,000 landmarks creating history and has the overall bias maintained positive as long as the 51,000 level is sustained having next upside targets of 53,500 and 55100 levels visible in the coming days,” said Parekh.
Vaishali Parekh’s stock recommendations today
1] Balkrishna Industries: Buy at ₹3229, target ₹3360, stop loss ₹3160;
2] SAIL: Buy at ₹148.65, target ₹156, stop loss ₹145; and
3] KPIT Technologies: Buy at ₹1634.75, target ₹1700, stop loss ₹1600.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
