Buy or sell: Vaishali Parekh recommends three stocks to buy today - 9 June 2025

Buy or sell stocks: Helped by a double bonanza from the Reserve Bank of India (RBI), the Indian stock market witnessed a sharp rally on Friday, with the benchmark indices — the Sensex and the Nifty 50 — ending nearly 1% higher each.

Sanjay Malhotra-led Monetary Policy Committee (MPC) cut the key lending rate by 50 basis points, exceeding the widely expected 25 basis point reduction. It also unexpectedly reduced the cash reserve ratio (CRR) requirement for banks by 100 bps and shifted its policy stance to neutral from accommodative.

Against this backdrop, BSE Sensex jumped 746.95 points, or 0.92%, to settle at 82,188.99. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. The benchmarks also recorded their first weekly gain after two straight weeks of decline.

Rate-sensitive sectors led gainers, with the realty index climbing 4.74%, auto index 1.50%, and the Bankex 1.25%.

The BSE MidCap and SmallCap indices also recorded gains, however, they trailed the benchmark Sensex. The mid-cap index rose 0.91% while the small-cap index was up 0.43%. The advance-decline ratio also favoured buyers.

The sharp rally in trade on Friday also added ₹3.6 lakh crore to investor wealth, taking the market capitalisation of all BSE-listed firms to ₹451.13 lakh crore.

Stock market today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes both Nifty 50 and Bank Nifty are poised for further gains in the coming days following a sharp rally on Friday. The technical analyst further predicts that the Nifty 50 will cross the 26,000 levels once the 25,116 zone is decisively breached.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "Nifty indicated a strong bullish candle on the daily chart post the RBI Policy outcome, which boosted the overall sentiment of the market players and closed on a strong note above the 25000 level to anticipate for further rise in the coming days. The index has gained strength with most of the frontline stocks indicating a positive revival to expect for further gains, and once the recent peak of 25116 zone is breached decisively, one can expect fresh targets of 25600 and 26000 levels in the coming days."

Commenting on the outlook for Nifty Bank, the Prabhudas Lilladher analyst said, "Bank Nifty gave a strong breakout above the tough resistance of 55,800-56,000 zone with a bullish candle formation on the daily chart to enter a new territory and can expect for further upward movement in the coming days. The index has overall strengthened the trend further with most of the PSU Banks also beginning to participate in the rally to support the benchmark index and can anticipate for fresh upside targets of 57700 and 60000 levels in the coming days."

The support for the day is seen at 24800 levels while the resistance is seen at 25300 levels, Parekh said, adding that Bank Nifty would have the daily range of 56000-57300 levels.

Vaishali Parekh's stock recommendations

Regarding stocks to buy today, Vaishali Parekh recommended buying these three stocks: Jaiprakash Power Ventures, Vedanta and Bandhan Bank.

1) JP Power: Buy at ₹16.2, for a target of ₹20, and keep a stop loss at ₹15.5

2) Vedanta: Buy at ₹448, for a target of ₹470, and keep a stop loss at ₹435

3) Bandhan Bank: Buy at ₹174, for a target of ₹183, and keep a stop loss at ₹169

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.