Markets
Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 20
Summary
- Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Indian Hotels Company, Century Textiles, and Dabur India
Buy or sell stocks today: Indian stock market indices Sensex and Nifty 50 closed relatively subdued on Thursday, September 19, compared to global and Asian indices, in response to the United States Federal Reserve's (FED) rate cut on Wednesday. The Nifty 50 index closed 0.15 per cent higher at 25,415.80 points, compared to 25,377.55 points at its previous market close.
The BSE Sensex closed 0.29 per cent higher at 83,184.80 points after Thursday's market session, compared to 82,948.23 points at the previous close.
Vaishali Parekh's stocks to buy today
Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said that Nifty 50 index is facing resistance at 25,600 whereas it has made base at 25,200. She said that overall market bias has turned cautious and bullish or bearish trend can be assumed on breakage of either side of this range.
Regarding stocks to buy today, Vaishali Parekh recommended buying these three shares: Indian Hotels Company, Century Textiles, and Dabur India.
For today, Parekh recommended three buy-or-sell stocks: Exide Industries Ltd, National Aluminium Company Ltd, and Angel One Ltd.
Stock market today
For the outlook on the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty once again created history scaling new high at 25611 level, thereafter, witnessing heavy profit booking especially among the broader markets to slightly create an atmosphere of cautious approach. The index would have the crucial support of 24200 level while on the upside 25900 level is the initial target."
“Bank Nifty has been gradually gaining strength and retested the previous peak zone of 53357 level to improve the bias and can anticipate for further rise once a decisive breakout above 53400 level is confirmed. The index has got the next immediate target of 55100 level with 52000 zone positioned as the important near-term support zone," said Parekh.
Parekh said that the Nifty 50 for today has support at 25,300, while the resistance lies at 25,600. The Bank Nifty index would have a daily range of 52,700 to 53,600.
Buy or sell stocks by Vaishali Parekh
1. Indian Hotels: Buy at ₹691; Target at ₹720; Stop Loss at ₹675.
2. Century Textiles: Buy at ₹2805; Target at ₹3100; Stop Loss at ₹2680.
3. Dabur India: Buy at ₹665; Target at ₹680; Stop Loss at ₹654.
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.
