The Indian stock market is holding steady near record highs. On Tuesday, the Nifty 50 closed slightly up at 25,017.75, while the BSE Sensex ended just above at 81,711.76. The market remains positive, supported by hopes of interest rate cuts from the US Federal Reserve.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that Nifty managed to stay above the 25,000 mark and is likely to rise in the coming days. She expects Nifty to find support at 24,900 and face resistance at 25,200, while the Bank Nifty index is expected to move between 50,900 and 51,800 today.
Parekh recommends buying the following three stocks today:
- Bombay Dyeing and Manufacturing Co. Ltd.: Buy at ₹229; Target ₹245; Stop Loss ₹222.
- Banco Products India: Buy at ₹675; Target ₹710; Stop Loss ₹660.
- LIC Housing Finance: Buy at ₹682; Target ₹700; Stop Loss ₹670.
She believes the market sentiment has improved and expects further gains in the near term, with Nifty aiming for a target of 25,600 points. The Bank Nifty is also showing strength, with possible targets of 52,500 and 53,400 levels.
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