Mumbai: On Thursday, the domestic markets ended on a positive note despite some volatility. The Sensex gained 141.34 points (0.18%) to close at 77,478.93, while the Nifty 50 rose by 51.00 points (0.22%) to end at 23,567.00.
Bank Nifty Performance: The Bank Nifty index fluctuated between 51,495 and 51,798, suggesting some struggle in maintaining momentum above the day’s opening range.
Vaishali Parekh’s Stock Picks: Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, shared her insights on market trends and recommended three stocks to buy today: NMDC Ltd, Mahanagar Gas Ltd, and Aarti Industries Ltd.
Market Outlook:
- Nifty: Parekh observed that Nifty is gradually moving towards the target of 23,800. Currently, it has paused around 23,550, but the trend remains strong, suggesting a potential rise soon. Key support is near 23,200, and further upward movement towards 23,800 is expected.
- Bank Nifty: After a strong session previously, Bank Nifty is holding above 51,000. Parekh expects it to target 53,500. For today, support is at 23,400, with resistance at 23,700, and the daily range is between 51,400 and 52,300.
Stocks to Buy Today:
- NMDC Ltd: Buy at ₹273.25; Target: ₹286; Stop Loss: ₹267
- Mahanagar Gas Ltd: Buy at ₹1506; Target: ₹1575; Stop Loss: ₹1470
- Aarti Industries Ltd: Buy at ₹712.50; Target: ₹742; Stop Loss: ₹695
Parekh suggests these stocks based on their positive bias and potential for upward movement.
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