Buy or Sell: Vaishali Parekh Recommends Three Stocks to Buy Today as Nifty 50 Hits Record High

Despite global market concerns due to rising US-China tensions, the Indian stock market continued its upward trend on Thursday. The Nifty 50 index gained 187 points, closing at a record high of 24,800. The BSE Sensex rose by 626 points, reaching 81,343, while the Bank Nifty index increased by 223 points, ending at 52,620. Cash market volumes on the NSE increased by 18% to ₹1.48 lakh crore, though broad market indices showed a decline with an advance-decline ratio of 0.47:1.

Vaishali Parekh’s Stock Recommendations

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market is bullish. She predicts that the Nifty 50 index might soon reach 25,000, with a potential higher target of 25,400.

For today’s stock picks, Vaishali Parekh recommends:

1. Snowman Logistics: Buy at ₹76.55, target ₹81, stop loss ₹74.50.
2. Ajanta Pharma: Buy at ₹2285, target ₹2400, stop loss ₹2235.
3. Chambal Fertilisers: Buy at ₹512, target ₹535, stop loss ₹500.

Market Outlook

On Nifty’s outlook, Parekh notes, “After two sluggish sessions, the Nifty index saw a strong bullish candle, reaching 24,800 levels. With a strong undertone, it could achieve 25,000 soon, ahead of the budget announcement. The index continues to gain strength, making new highs daily, with support now at 24,400 and higher targets at 25,000 and 25,400.”

For the Bank Nifty index, Parekh observes, “The index has been hovering between 52,800 and 52,000. A decisive break above 52,800 could trigger an upward move, with targets of 53,500 and 55,100 in the coming days.