Buy or sell: Vaishali Parekh recommends three stocks to buy today — 24 September

Buy or sell stocks today: India's benchmark stock market indices, Sensex and Nifty 50, extended their winning streak for a third straight session, hitting record highs on Monday, 23 September 23. Gains were driven by strong performances in the financial services sector, with additional support realty and auto stocks. 

The Nifty 50 closed 0.57% higher at 25,939.05 points, up from 25,790.95 in the previous session. The BSE Sensex closed 0.45% higher at 84,928.61 points, compared to 84,544.31 points at Friday's market close.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, noted that the Nifty 50 has notched up robust gains moving towards the 26,000 mark in its last two sessions. She expects the index to maintain its upward trend, with an initial target of 26,400. Parekh estimates the Nifty 50 Spot index to find support at 25,800 points and face resistance at 26,100 points. The Bank Nifty index will likely move in a range of 53,800 to 54,600 today.

For today, Parekh recommended three buy-or-sell stocks: AU Small Finance Bank Ltd, JSW Energy Ltd, and Bharat Petroleum Corporation Ltd.

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty index in the last 2 sessions has indicated a strong robust gain moving towards the 26,000 landmark and thereafter, with strength indicated has the initial target of 26,400 levels with indicators showing upside potential.”

“The 25,600 level would be the immediate strong support for the index which needs to be sustained to carry on with the positive move further ahead,” said the stock market expert.

“Bank Nifty has breached above the 54,000-zone indicating a strong uptrend with bias and sentiment much improved anticipating for further rise with next target of 55,100 achievable in the coming days. The levels near 53,300 zone shall be the immediate support for the index which needs to be sustained,” said Parekh.

Parekh said that the Nifty 50 Spot for today has support at 25,800 points, while the resistance lies at 26,100 points. The Bank Nifty index would have a daily range of 53,800 to 54,600.

Buy or sell stocks by Vaishali Parekh 

1. AU Small Finance Bank Ltd. (AUBANK): Buy at ₹735; Target at ₹766; Stop Loss at ₹720. 

2. JSW Energy Ltd. (JSWENERGY): Buy at ₹792; Target at ₹830; Stop Loss at ₹775. 

3. Bharat Petroleum Corporation Ltd. (BPCL): Buy at ₹338; Target at ₹354; Stop Loss at ₹331.

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.