Nifty 50 Hits Record High: Vaishali Parekh Recommends 3 Hot Stocks to Buy Today! | Stock Market News

Buy or sell stocks for today: Despite declines in European markets and mixed signals from Asian markets, the Indian stock market ended at a record high on Tuesday. The Nifty 50 index closed 26 points higher at 24,613, the BSE Sensex gained 51 points to end at 80,716, while the Bank Nifty index dropped 59 points to finish at 52,396. Cash market volumes on the NSE were 5.1 percent lower at ₹1.25 lakh crore. The mid-cap index ended negatively, although the advance-decline ratio remained positive at 1.05:1.

Vaishali Parekh’s stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that the Nifty 50 index is encountering resistance at 24,650. However, she maintained a positive outlook on the Indian stock market. She believes the Nifty is slowly moving towards 24,900, with crucial support now above 24,300.

For today, Vaishali Parekh recommended buying these three stocks: Coal India Limited, Indraprastha Gas Limited (IGL), and Arvind.

Stock market today

Regarding the Nifty’s outlook, Vaishali Parekh said, “The Nifty 50 index continues to make new highs but has shown some consolidation around the 24,650 zone. It has been moving slowly but with a positive bias, aiming for the next target of 24,900 in the coming days, with immediate support at 24,300.”

“The Bank Nifty index has been resisting near the 52,700 zone for some time and needs to break above that level to continue its uptrend, aiming for targets of 53,500 and 55,100. The immediate support is near the 51,900 zone,” said Parekh.

Parekh added that the Nifty today has immediate support at 24,500, while the resistance is at 24,700. The Bank Nifty’s daily range would be between 52,000 and 52,800.

Vaishali Parekh’s stock recommendations today:

1] Coal India: Buy at ₹512.50, target ₹535, stop loss ₹500;

2] IGL: Buy at ₹540.75, target ₹565, stop loss ₹528; and

3] Arvind: Buy at ₹384, target ₹400, stop loss ₹376.