BackBuy or sell: Vaishali Parekh recommends three stocks to buy today — June 18
Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — SBI Life, Kiri Industries, and Delhivery
PremiumBuy or sell stocks for today: The Indian stock market continued to move into a narrow range movement with a positive bias and ended higher on Friday last week. The Nifty 50 index gained 66 points and closed at 23,465, while the BSE Sensex surged 181 points and ended at 76,992. The Bank Nifty index finished 155 points higher at 50,002. Cash market volumes on the NSE were higher at Rs.1.35 lakh crore. The broad market indices rose more than the Nifty even as the advance-decline ratio fell to 1.39:1.
Vaishali Parekh's stocks to buy today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the overall Indian stock market trend is strong, and the Nifty 50 index is heading towards its next target of 23,800. The Prabhudas Lilladher expert said the Bank Nifty today is facing a hurdle at 50,200. She noted that by decisively breaching this resistance, the Nifty Bank index may touch 51,000 in the near term.
Regarding stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — SBI Life, Kiri Industries, and Delhivery.
Stock market today
On the outlook for Nifty today, Vaishali Parekh said, "Nifty during the week consolidated with 23,450 zones capped on the upper end and support maintained near 23,200 zones with stability maintained after the high fluctuations witnessed a week before. With the overall trend maintained strong, the index is heading towards the next near-term target of 23,800 levels with the 23,200 zone maintained as the strong base."
"The Bank Nifty index has been quite sluggish with 50,200 levels acting as a resistance barrier and would need a decisive breach above that zone with a near-term target of 51,000 visible and after that, with strength sustaining, can achieve 52,400 and 53,500 levels in the coming days," said Parekh.
Parekh went on to add that the Nifty today has immediate support at 23,300 while resistance is seen at 23,600. The Bank Nifty would have a daily range of 49,700 to 50,400.
Buy or sell stocks by Vaishali Parekh
1] SBI Life: Buy at ₹1470, target ₹1540, stop loss ₹1440;
2] Kiri Industries: Buy at ₹337.60, target ₹352, stop loss ₹330; and
3] Delhivery: Buy at ₹406.45, target ₹426, stop loss ₹397.
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.
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