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Buy or sell stocks: Vaishali Parekh recommends three shares for today — January 21, 2025

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Buy or sell stocks for today: Domestic equity benchmarks Sensex and Nifty 50 settled higher in the previous session, driven by gains in the banking, financial and power sector stocks amid firm global trends. Donald Trump took oath as the 47th US President and announced various trade and energy policies.

The 30-share BSE Sensex jumped 454.11 points or 0.59 per cent to settle at 77,073.44. Intra-day, it surged 699.61 points or 0.91 per cent to 77,318.94. The NSE Nifty climbed 141.55 points, or 0.61 per cent, to end at 23,344.75 — 29 of its constituents closed higher. The broader, more domestically focussed small-caps and mid-caps rose about one per cent each.

Also Read: $TRUMP meme coin crosses $10-billion market cap after Donald Trump gets sworn in as 47th US President

Among major asset classes, cryptocurrency major Bitcoin has been on an upward trend since Trump’s victory. The original cryptocurrency touched another record level of $109,241 ahead of Trump’s inauguration. With the swearing-in ceremony, $Trump meme coin surpassed the market cap of $10 billion.

While Trump’s win initially boosted a strong rally in risky assets across major global markets, concerns over his tariff plans have raised fears that they could ignite a rise in inflation and potentially lead to trade wars, which have stalled the rally in the past month. US Federal Reserve officials are concerned about the inflationary impacts of Trump’s policies. However, recent data showing cooling inflation in the US has reignited bets on rate cuts.

Vaishali Parekh’s stocks today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty has moved past and closed above the 23,300 zone to improve the bias and sentiment to some extent. Anticipating further upward move, with the broader markets showing active participation to support the benchmark indices.”

Also Read: Upcoming IPOs: Carlyle-acquired Hexaware Tech, five others receive SEBI approval to float IPOs

For Bank Nifty, the Prabhudas Lilladher stock market expert said, “Bank Nifty witnessed a decent pullback to close above the 49,000 zone. Further ahead, a decisive breach above the important hurdle of 49,700 level shall establish conviction. Afterwards, we can anticipate a further rise in the coming days with targets of 50,600 and 51,900 levels achievable.

Vaishali Parekh recommended three intraday stocks for today: Fortis Healthcare, JSW Energy and Max Healthcare Institute.
 

Stock market today

For today’s outlook on the Nifty 50, Parekh said, “The index needs to breach above the 23,500 zones to establish conviction further and thereafter, except for targets of 23,900 and 24,200 levels in the coming days with 23,000 level maintained as the important and crucial support as of now.”

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On Bank Nifty, she said, “The zone around 48,200 would be the important support, which needs to be sustained as of now to maintain the overall bias intact.”

The Nifty 50’s support for the day is seen at 23,200 levels, while the resistance is at 23,500 levels. Bank Nifty would have a daily range of 49,000-50,000 levels.

Buy or sell stocks by Vaishali Parekh

1.Fortis Healthcare: Buy Fortis Healthcare at 654 with a positional target price of 680-700 and a stop loss of 630.

2.JSW Energy: Buy JSW Energy at 579 with a target price of 600 and a stop loss of 566.

3.Max Healthcare: Buy Max Healthcare at 1,060 with a target price of 1,100 and a stop loss of 1,040.

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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