Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 25

Buy or sell stocks: The Indian stock markets fell more than half a per cent but recovered to end up during Friday's trading session, fueled by index heavyweights like Reliance, Infosys, ICICI Bank, and TCS. The Nifty 50 closed 2.39 per cent higher after Friday's trading session at 23,907.25 points, compared to 23,349.90 points at the previous market close.

The BSE Sensex index closed 2.54 per cent higher at 79,117.11 points, compared to 77,155.79 points at the previous market close. 

Vaishali Parekh's stocks to buy today

Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said the Nifty witnessed a strong pullback from the low near 23,260. To maintain the bias and expect a decent pullback, the index needs to sustain the 23,200-23,300 zone as of now. Parekh estimates the Nifty 50 Spot index to find support at 23,700 points and face resistance at 24,100 points. The Bank Nifty index will likely move in the 50,500 to 51,800 range today.

For today, Parekh recommended three buy-or-sell stocks: BGR Energy Systems Ltd, Exide Industries Ltd, and Tata Motors Ltd. 

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty witnessed a strong pullback from the low made near 23,260 zone with a bullish candle formation on the daily chart moving above the significant 200-period MA of 23,600 levels to anticipate for further rise till 24,400 level with most of the frontline stocks hovering near their oversold zone.”

“The index would need to sustain the 23,200-23,300 zone as of now to maintain the bias and anticipate some decent pullback,” said the stock market expert.

“Bank Nifty has bounced back to move past the 51,000-zone. A positive candle formation on the daily chart from the low made the important 200-period MA at 49,800 level to improve the bias to some extent. Anticipate a pullback till the 52,400 zone. The index needs to sustain the important zone of 49,800 during this volatile and susceptible scenario,” said Parekh.

Parekh said that the Nifty 50 Spot for today has support at 23,700 points, while the resistance lies at 24,100 points. The Bank Nifty index would have a daily range of 50,500 to 51,800. 

Buy or sell stocks by Vaishali Parekh

1. BGR Energy Systems Ltd. (BGRENERGY): Buy at ₹36.7; Target at ₹39; Stop Loss at ₹35. 

2. Exide Industries Ltd. (EXIDEIND): Buy at ₹424; Target at ₹440; Stop Loss at ₹415. 

3. Tata Motors Ltd. (TATAMOTORS): Buy at ₹792; Target at ₹820; Stop Loss at ₹780. 

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.