Buy or sell: Vaishali Parekh recommends three stocks to buy today — July 16

Buy or sell stocks for today: Despite mixed trends from the global markets, the Indian stock market ended higher on Monday. The Nifty 50 index gained 84 points and closed at the 24,586 mark; the BSE Sensex shot up 145 points and finished at 80,664, whereas the Bank Nifty index ended 177 points higher at 52,455. Most sectors ended in green, with buying seen in PSU Bank, Oil & Gas, Realty, and Healthcare. PSU's Banking sector was up 3 per cent after media reports suggested that the government may introduce amendments to the Banking Regulation Act 1949 and other laws to push reforms during the upcoming Budget session.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that the bias for the Indian stock market has remained strong, as the Nifty 50 index is gaining strength with time. The Prabhudas Lilladher expert said that the next initial target of the 50-stock index is 24,900. Vaishali predicted improvement in the Bank Nifty sentiments.

Regarding stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended buying these three buy-or-sell stocks on Tuesday: Petronet LNG, Varun Beverages Ltd or VBL, and Samvardhana Motherson.

Stock market today

On the outlook for Nifty today, Vaishali Parekh said, "Nifty has been slowly and steadily gaining strength, inching every day in the north direction. With the bias maintained strong, it has the next initial target of 24,900 levels, as mentioned earlier. With mid-cap and small-cap stocks also participating actively, the undertone is maintained very positively and can carry on with the positive move further ahead."

"The Bank Nifty index has overall shown consolidation and with a gradual rise witnessed is once again indicating improvement in the bias expecting for the further rise and would need a decisive breach above 53,350 zones to confirm a breakout and anticipate for a further rise in the coming days," said Parekh.

Vaishali Parekh's stock recommendations for today

1] Petronet LNG: Buy at ₹350, target ₹368, stop loss ₹340;

2] Varun Beverages Ltd or VBL: Buy at ₹1628, target ₹1710, stop loss ₹1590; and

3] Samvardhana Motherson: Buy at ₹201.55, target ₹214, stop loss ₹195.

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.