Buy or Sell: Vaishali Parekh Recommends Three Stocks to Buy Today — July 12 | Stock Market News
Despite positive global market sentiments, the Indian stock market remained steady and ended flat on Thursday. The Nifty 50 index closed slightly lower at 24,315, while the BSE Sensex dropped 24 points to finish at 79,897. The Bank Nifty index gained 81 points, closing at 52,270. After three consecutive days of gains, the India VIX Index fell over 3 percent, ending at 14. Trading volumes on the NSE cash market were down 5.5 percent to ₹1.40 lakh crore. However, broad market indices ended positively, with the advance-decline ratio rising to 1.52:1.
Vaishali Parekh’s Stocks to Buy Today
Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, noted that the Nifty 50 index has been consolidating within a narrow range of 24,150 to 24,450 for the past week. She believes the next bullish move on Dalal Street could happen if the index breaks through the 24,450 resistance level decisively. If this happens, Parekh expects the Nifty to reach the 24,900 mark.
For today, Vaishali Parekh recommends buying the following three stocks: Coal India Ltd, NIIT, and Balrampur Chini Mills.
Stock Market Outlook Today
Commenting on the Nifty’s outlook, Vaishali Parekh said, “Nifty has been consolidating for the past six sessions, facing resistance near the 24,450 zones and maintaining support near the 24,150 zones. The overall bias remains positive, but a decisive break above 24,450 is needed to continue the positive trend, with the next target at 24,900.”
Regarding the Bank Nifty, she added, “The Bank Nifty has seen a gradual decline over the last six sessions but recovered from a low near 51,750 to end flat, keeping the positive bias intact. The index faces resistance at 53,200 and needs a clear breakout above this level for further upside, with the next target at 55,100.”
For today, Vaishali Parekh identified immediate support for the Nifty at 24,200 and resistance at 24,500. The Bank Nifty’s daily range is expected to be 51,900 to 52,700.
Vaishali Parekh’s Stock Recommendations Today
- Coal India Ltd: Buy at ₹500, target ₹530, stop loss ₹488.
- NIIT: Buy at ₹116, target ₹123, stop loss ₹113.
- Balrampur Chini Mills: Buy at ₹445, target ₹468, stop loss ₹436.
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