The Indian stock market had a rough day, with the Sensex and Nifty 50 falling over 1% on Monday. Nifty 50 dropped 1.27%, closing at 23,995.35, while the Sensex slipped 1.18% to end at 78,782.24 points.
Vaishali Parekh’s Stock Picks for Today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that Nifty faced resistance near 24,500 and fell below 24,000, creating a bearish sentiment. She anticipates support for Nifty at 23,800, with resistance at 24,200, while Bank Nifty may trade between 50,500 and 52,000.
Here are Parekh’s top stock recommendations for today:
- Dredging Corporation of India Ltd. (DREDGECORP)
- Buy Price: ₹1,022
- Target: ₹1,050
- Stop Loss: ₹1,000
- Infosys Ltd. (INFY)
- Buy Price: ₹1,765
- Target: ₹1,800
- Stop Loss: ₹1,745
- Hindustan Zinc Ltd. (HINDZINC)
- Buy Price: ₹544
- Target: ₹575
- Stop Loss: ₹520
Parekh cautions that Nifty could continue to slide if it breaks below 23,500, especially with potential market volatility due to the upcoming U.S. election. She advises traders to watch these levels closely for both Nifty and Bank Nifty, as a break in either direction could signal the next market trend.
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