Expert Stock Picks: Vaishali Parekh Recommends 3 Stocks to Buy Today — October 17

The Indian stock market continued its downward trend, with the Sensex falling by 319 points (0.39%) to 81,501.36 and the Nifty 50 slipping 86 points (0.34%) to close at 24,971.30 on Wednesday. Weak global cues, along with concerns over inflation and lackluster quarterly results, weighed on investor sentiment.

Vaishali Parekh’s Stock Recommendations

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, highlighted that the Nifty 50 index has been consolidating and faces resistance near the 25,200 mark. It recently dipped below the critical 25,000 level and the 50-EMA (Exponential Moving Average) of 25,050, making the market’s outlook cautious. The Nifty is expected to find strong support at 24,700, and it’s crucial for the index to hold this level.

For the Bank Nifty, Parekh noted that it is encountering strong resistance around 52,000 but managed to stay just above the 50-EMA of 51,750. The Bank Nifty needs to stay above 51,000 to maintain its positive momentum.

Today’s Stock Picks by Vaishali Parekh

Parekh has recommended three stocks to buy today, focusing on companies with potential for short-term gains.

1. KPI Green Energy Ltd
   • Buy Price: ₹839
   • Target: ₹880
   • Stop Loss: ₹820
2. Union Bank of India
   • Buy Price: ₹112
   • Target: ₹120
   • Stop Loss: ₹108
3. Dishman Carbogen Amcis Ltd
   • Buy Price: ₹188
   • Target: ₹200
   • Stop Loss: ₹182

Outlook for Nifty and Bank Nifty

• Nifty 50 Support: 24,800 | Resistance: 25,100
• Bank Nifty Support: 51,400 | Resistance: 52,200

According to Parekh, maintaining these support levels is crucial for the market to hold its ground amid current challenges.