Sensex & Nifty Surge as US Election Nears: Top Stock Picks for November 6 from Vaishali Parekh

Indian stock markets, including the Sensex and Nifty 50, rebounded with strong gains on Tuesday, fueled by optimism ahead of the US presidential election results. The Nifty 50 rose by 0.91% to close at 24,213.30, while the BSE Sensex climbed 0.88% to end at 79,476.63.

Key Market Levels to Watch

Vaishali Parekh, VP of technical research at Prabhudas Lilladher, notes that Nifty has seen high volatility recently, with major swings and a near-term support level at 23,800. For today, Nifty is expected to find support at 24,000, with resistance around 24,400. For Bank Nifty, Parekh suggests a trading range of 51,600 to 52,800.

A clear move above 24,500 for Nifty and above 52,500 for Bank Nifty could confirm an upward trend. For now, Bank Nifty is holding support around 51,000, with 50,400 as a critical level to maintain its current trend.

Vaishali Parekh’s Top Stock Picks Today

1. Hindustan Aeronautics Ltd. (HAL)
   • Buy at: ₹4,250
   • Target: ₹4,550
   • Stop Loss: ₹4,000
     
2. Reliance Industries Ltd. (RELIANCE)
   • Buy at: ₹1,300
   • Target: ₹1,350
   • Stop Loss: ₹1,280
     
3. Vedanta Ltd. (VEDL)
   • Buy at: ₹469
   • Target: ₹480
   • Stop Loss: ₹453

According to Parekh, these stocks show strong potential for gains with specific entry points and stop-loss measures to manage risk.