Top 3 Stocks to Buy Today: Expert Vaishali Parekh Recommends Cipla, M&M, and Valiant Organics

The Indian stock market saw strong gains on Monday, August 26, as both major indices rose nearly 1%. This positive trend came after investors reacted well to a speech by Jerome Powell at Jackson Hole on Friday. The Nifty 50 index closed 0.76% higher at 25,010.60 points, while the BSE Sensex went up 0.75% to close at 81,698.11 points.

Expert Stock Picks from Vaishali Parekh

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that Nifty has gained strength steadily, surpassing the 25,000 mark, showing a positive trend. She believes the Nifty 50 index has an initial target of 25,600 points, with support at 24,900 and resistance at 25,200. For the Bank Nifty index, the expected range is between 50,800 and 51,600 points today.

Stocks to Buy Today

Vaishali Parekh recommends three stocks to buy:

1. Cipla Ltd. (CIPLA): Buy at ₹1,593; Target at ₹1,650; Stop Loss at ₹1,560.
2. Mahindra and Mahindra Ltd. (M&M): Buy at ₹2,794; Target at ₹2,850; Stop Loss at ₹2,740.
3. Valiant Organics Ltd. (VALIANTORG): Buy at ₹403; Target at ₹420; Stop Loss at ₹390.

Market Outlook Today

According to Parekh, Nifty has shown steady growth and continues to move positively towards the next target of 25,600. She points out that if the index maintains a strong bias, further gains are possible, with an important support level at 24,750.

For the Bank Nifty, Parekh suggests it needs to stay above the 51,000 mark to show confidence in further increases, with next targets at 52,500 and 53,400. The immediate support level is 50,800. Today, Nifty has support at 24,900 and resistance at 25,200, while Bank Nifty is expected to move between 50,800 and 51,600 points.