Buy or Sell: Vaishali Parekh Recommends Three Stocks to Buy Today Amid Record High Nifty 50 Surge | Stock Market News
The Indian stock market closed higher on Monday, buoyed by strong global cues. The Nifty 50 index gained 131 points to finish at a record high of 24,141. The BSE Sensex rose by 443 points, ending at 79,476, while the Bank Nifty index climbed 232 points to close at 52,574. Cash market volumes on the NSE dropped to ₹1.20 lakh crore. The broader market indices outperformed the Nifty, with the advance-decline ratio improving to 2.6:1.
Vaishali Parekh’s Stock Picks
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, sees the Nifty 50 index holding strong above the 24,000 mark and aiming for targets of 24,500 and 24,800. She also notes that the Bank Nifty index is gaining momentum, heading towards 53,500 and 55,100. For today’s trading, Parekh recommends buying Birlasoft, Chambal Fertilisers, and Aarti Industries.
Nifty Outlook
On the outlook for the Nifty 50 index, Vaishali Parekh commented, “Nifty has regained its positive momentum, maintaining support at 24,000 and aiming for higher targets of 24,500 and 24,800 in the coming days.”
Bank Nifty Outlook
Regarding the Bank Nifty index, Parekh noted, “The Bank Nifty index is showing a higher low formation on the daily chart, gaining strength and targeting levels of 53,500 and 55,100.”
Nifty Support and Resistance
Parekh mentioned that the Nifty has immediate support at 24,000, with resistance at 24,300. For the Bank Nifty, the daily range is expected to be between 52,200 and 53,000.
Vaishali Parekh’s Stock Recommendations Today
- Birlasoft: Buy at ₹717.60, target ₹745, stop loss ₹703.
- Chambal Fertilisers: Buy at ₹523.15, target ₹545, stop loss ₹512.
- Aarti Industries: Buy at ₹705, target ₹732, stop loss ₹690.
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