Vaishali Parekh Recommends Top Stocks to Buy as Nifty 50 and Bank Nifty Slide – Key Intraday Trading Tips for September 9

Indian stock markets ended lower on Friday as investors became cautious before the release of the US jobs report. The outcome of this report may influence the US Federal Reserve’s decision on whether to cut interest rates. The Nifty 50 index dropped by 1.17%, closing at 24,852.15 points, down from 25,145.10 in the previous session. Similarly, the BSE Sensex fell by 1.24%, closing at 81,183.93 points compared to 82,201.16 earlier.

Vaishali Parekh’s Stock Picks for Today

Vaishali Parekh, the vice president of technical research at Prabhudas Lilladher, mentioned that the Nifty has been struggling around the 25,300 mark. On Friday, a bearish candle formed, followed by significant profit booking, which led the index to fall below the key support level of 24,900 points. According to Parekh, the Nifty 50 could find support at 24,700 points today, with resistance at 25,000. Meanwhile, the Bank Nifty is expected to trade between 50,200 and 51,000 points.

Stock Market Outlook

Parekh highlighted that the Nifty 50’s near-term support lies at the 24,800 level. If the index falls below this level, there could be stronger selling pressure, and the next major support would be around 24,500 points.

Regarding the Bank Nifty, it recently faced resistance near the 51,600 mark and formed a large bearish candle, breaking below the 50EMA (50-day exponential moving average) at 50,900 points. The next key support for the index is at 49,600, and it must hold this level to keep the overall trend intact.

Buy or Sell Stocks by Vaishali Parekh

1. Marico Ltd. (MARICO)
   • Buy at: ₹665
   • Target: ₹690
   • Stop Loss: ₹652
2. Tata Technologies Ltd. (TATATECH)
   • Buy at: ₹1,112
   • Target: ₹1,150
   • Stop Loss: ₹1,090
3. La Opala Rg Ltd. (LAOPALA)
   • Buy at: ₹340
   • Target: ₹355
   • Stop Loss: ₹332