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Buy or Sell: Vaishali Parekh Recommends Top Stocks for September 20 Amid Nifty 50’s Steady Climb After US Fed Rate Cut

Indian stock market indices, Sensex and Nifty 50, had a quiet day on Thursday, September 19, compared to global and Asian markets. This was after the US Federal Reserve announced a rate cut on Wednesday. The Nifty 50 closed 0.15% higher at 25,415.80 points, up from its previous close of 25,377.55 points.

The BSE Sensex also rose slightly, closing 0.29% higher at 83,184.80 points, compared to 82,948.23 points at its previous close.

Vaishali Parekh’s Stock Picks

Vaishali Parekh, the vice president of technical research at Prabhudas Lilladher, mentioned that Nifty has hit a new high at 25,611 but saw heavy profit-taking, making investors cautious. She expects Nifty 50 to have support at 25,300 points and face resistance at 25,600 points. Bank Nifty, on the other hand, is expected to trade between 52,700 and 53,600 points today.

For today’s trading, Parekh recommends buying the following three stocks:

  1. Indian Hotels Co. Ltd. (INDHOTEL): Buy at ₹691; Target ₹720; Stop Loss ₹675.
  2. Century Textiles & Industries Ltd. (CENTURYTEX): Buy at ₹2,805; Target ₹3,100; Stop Loss ₹2,680.
  3. Dabur India Ltd. (DABUR): Buy at ₹665; Target ₹680; Stop Loss ₹654.

Market Outlook

On Nifty 50, Parekh says it has support at 25,300 and resistance at 25,600. She adds that Nifty made history by reaching 25,611 but saw profit booking, particularly in broader markets, causing a cautious mood. The next target for Nifty is 25,900 points, with 24,200 as a crucial support level.

For Bank Nifty, Parekh explains that the index is gaining strength, retesting its previous peak of 53,357. If it breaks above 53,400, it could rise further with a target of 55,100 points. For now, 52,000 is an important support zone.

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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