Nifty 50 Gains for 6th Day; Vaishali Parekh Recommends 3 Stocks to Buy Today — August 23

The Indian stock market index, Nifty, closed higher for the sixth straight session on Thursday, August 22, driven by positive global market trends. The Nifty ended 0.17% higher at 24,811.50 points, up from its previous close of 24,770.20 points. Similarly, the BSE Sensex closed 0.18% higher at 81,053.19 points, compared to 80,905.30 points on the previous day.

Vaishali Parekh’s Stock Recommendations

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that Nifty is showing continued strength, moving steadily towards the 24,800 mark. She expects the index to target the 25,000 zone soon. According to her, Nifty 50 has support at 24,700 points and resistance at 25,000 points. For Bank Nifty, the expected daily range is between 50,600 to 51,500 points.

Today, Vaishali Parekh recommends buying the following three stocks:

1. Tata Chemicals Ltd. (TATACHEM)

• Buy Price: ₹1,085.45
• Target Price: ₹1,130
• Stop Loss: ₹1,060

2. Indian Hotels Co. Ltd. (INDHOTEL)

• Buy Price: ₹644.60
• Target Price: ₹674
• Stop Loss: ₹630

3. Latent View Analytics Ltd. (LATENTVIEW)

• Buy Price: ₹510.90
• Target Price: ₹535
• Stop Loss: ₹498

Stock Market Outlook

Parekh mentioned that Nifty is gradually advancing towards the 25,000 mark with strong market sentiment. The broader market is also gaining momentum, supporting the benchmark index, and a continued rise is expected, maintaining a bullish trend. Bank Nifty closed positively, facing resistance near the 51,000 level. A decisive move above 51,000 could trigger a further upward trend, with potential targets of 52,600 and 53,500 in the coming days.

For today’s trading session, Parekh emphasized that Nifty 50 has support at 24,700 points, with resistance at 25,000 points. The Bank Nifty index is expected to trade within a range of 50,600 to 51,500 points.