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Buy or sell stocks: Vaishali Parekh recommends three shares for today — January 16, 2025

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Buy or sell stocks for today: Indian markets closed higher for the second straight session on Wednesday, January 15, driven by gains in heavyweight stocks, Reliance Industries, State Bank of India, and Kotak Mahindra Bank. Mid- and small-cap stocks also saw strong buying interest for the second day in a row, following a sell-off  the prior week.

The Nifty 50 posted a 0.16% increase, closing at 23,213, while the Sensex advanced 0.29% to finish at 76,724.

Also Read | Six stocks to buy and sell today — 15 January

Meanwhile, the Nifty Small-cap 100 index climbed 0.56% to 17,353, and the Nifty Midcap 100 index gained 0.41%, closing at 53,899. A continuation of this rally will likely hinge on the US Consumer Price Index (CPI) data, set to be released later today.

Investors will be watching these figures, which offer greater insight into the US Federal Reserve’s approach to rate cuts. Last week’s robust US jobs data dampened market hopes for several rate cuts this year.

Vaishali Parekh’s stocks today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty witnessed a volatile session resisting near the 23,300 zone and slipped down to end on a flat note. The bias and sentiment stay with a cautious approach till a decisive breach above the 23,500 zone is not confirmed.”

For Bank Nifty, the Prabhudas Lilladher stock market expert said,”Amid fluctuations, BankNifty found resistance near the 49,000 zone and ended on a flat note. The bias remains very cautious and would need a decisive breach above 49,700 levels.”

Also Read | The market in 2025 will be a story of two halves, says Ashish Gupta of Axis MF

Stock market today

For today’s outlook on the Nifty 50, Parekh said, “The 23,000 zone would be the important and crucial support, which needs to be sustained to maintain the overall trend intact. With frontline stock results in the coming days, we expect continued volatility in the market.”

On Bank Nifty, she said, “The level of 47,900 would be the important support zone as of now, which the index needs to sustain.”

The support for the day is seen at 23,100 levels and the resistance at 23,400 levels. BankNifty would have a daily range of 48,300-49,300 levels.

Also Read | Stocks to buy: Raja Venkatraman recommends three stocks for today — 15 January

Buy or sell stocks by Vaishali Parekh

1.ONGC: Buy ONGC at 257 with a target price of 280 and a stop loss of 248.

2. Raymond: Buy Raymond at 1,580 with a target price of 1,700 and a stop loss of 1,580.

3. Aarti Industries: Buy Aarti Industries at 431 with a target price of 420 and a stop loss of 445.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.

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