Buy or sell: Vaishali Parekh recommends three stocks to buy today — July 5

Buy or sell stocks for today: Following strong global market sentiments on overwhelming gains on Wall Street, the Indian stock market finished higher for the second straight session. The Nifty 50 index closed marginally higher at 24,302, whereas the BSE Sensex ended 62 points up at the 80,049 mark. The Bank Nifty index edged 14 points higher and closed at 53,103. Cash market volumes on the NSE rose around 2 percent to ₹1.38 lakh crore. The broad market indices rose more than the Nifty 50 index even as the advance-decline ratio fell to 1.19:1.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the overall Indian stock market sentiment is positive as the Nifty 50 index is sustaining above the 24,300 mark. The Prabhudas Lilladher expert maintained that the 50-stock index is set to touch 24,500 and 24,900 in the near term. Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy-or-sell stocks: RCF, NOCIL, and NLC India.

Stock market today

On the outlook for Nifty today, Vaishali Parekh said, "Nifty has been steadily on the rise from 23,350 levels, making new highs with the undertone maintained very bullish. We anticipate a further rise to the next targets of 24,500 and 24,900 levels in the coming days. The psychological near-term support would be at the 24,000 zone, below which the bias can turn a little bit weak."

"The Bank Nifty index, except for HDFC Bank as of now, rest of the frontline banking stocks has indicated improvement in the bias to anticipate further upward movement to carry the index to new heights with targets of 53,500 and 55,100 levels visible in the coming days," said Parekh.

Parekh went on to add that the Nifty today has immediate support at 24,150, while the resistance is at 24,450. The Bank Nifty will have a daily range of 52,600 to 53,700.

Vaishali Parekh's stock recommendations today

1] RCG: Buy at ₹202.45, target ₹215, stop loss ₹198;

2] NOCIL: Buy at ₹302.65, target ₹317, stop loss ₹298; and

3] NLC India: Buy at ₹262.56, target ₹275, stop loss ₹257.

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.