Top Stock Picks for Today: Vaishali Parekh Recommends Jindal Steel, Hindustan Oil, and Everest Kanto Cylinder
The Indian stock market had a mixed day on Wednesday, with the Sensex and Nifty 50 ending with small gains after a somewhat volatile session. The IT sector outperformed, thanks to positive economic data from the US.
- The BSE Sensex rose by 149.85 points (0.19%) to close at 79,105.88.
- The Nifty 50 edged up by 4.75 points (0.02%) to finish at 24,143.75.
- The Nifty Midcap 100 gained 0.59%, and the Nifty SmallCap 100 advanced by 0.64%.
Vaishali Parekh’s Stock Picks for Today:
- Jindal Steel: Buy at ₹929.75, target ₹975, stop loss ₹908.
- Hindustan Oil Exploration Company: Buy at ₹251.75, target ₹268, stop loss ₹245.
- Everest Kanto Cylinder: Buy at ₹167.30, target ₹175, stop loss ₹163.
Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that Nifty had a quiet session with limited movement. The 24,000 zone is a crucial support level that needs to hold for the overall trend to stay positive.
For Bank Nifty, she mentioned that it’s near an important support level at 49,700. To improve the market outlook, Bank Nifty needs to break above the 50,700 resistance zone.
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