India’s stock markets, Sensex and Nifty 50, dropped for the sixth day in a row, driven by major selloffs from foreign investors. Nifty 50 fell 0.87% to close at 24,795.75, while the BSE Sensex dropped 0.78%, ending the day at 81,050.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, highlighted that Nifty has fallen 1,500 points from its recent peak, dropping below 25,000, which may lead to further declines. She expects Nifty to find support at 24,600 and resistance at 25,000, while Bank Nifty is set to move between 49,800 and 51,000.
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Parekh recommended three stocks to buy today:
- LTIMindtree Ltd. (LTIM): Buy at ₹6,250, with a target of ₹6,400 and a stop loss at ₹6,150.
- Pricol Ltd. (PRICOLLTD): Buy at ₹465, with a target of ₹485 and a stop loss at ₹455.
- Ambuja Cements Ltd. (AMBUJACEM): Buy at ₹587, with a target of ₹610 and a stop loss at ₹575.
Parekh also warned that geopolitical tensions could further impact the market, with key support levels at 24,300 for Nifty and 49,200 for Bank Nifty.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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