Monday, February 24, 2025

Buy or sell: Vaishali Parekh recommends three stocks to buy today —January 31, 2025

Must read


Buy or sell stocks: The Indian stock markets closed in the green for the third consecutive day on Thursday, January 30, powered by gains in index heavyweights Reliance Industries, HDFC Bank, and Bharti Airtel. The Nifty 50 index closed closed 0.37 per cent higher at 23,249.50 points, compared to 23,163.10 points in the previous stock market session.

The BSE Sensex index also closed with 0.30 per cent gains after Thursday’s market session at 76,759.81 points, compared to 76,532.96 points at the previous market close. 

Vaishali Parekh’s stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said after a volatile session, the Nifty 50 index ended on a positive note. Volatility is expected to remain on the eve of the Budget 2025 session, with the 23,000 zone as an important support level. Parekh estimates the Nifty 50 Spot index to find support at 23,100 points and face resistance at 23,500 points. The Bank Nifty index will likely move in the 49,000 to 50,000 range.

Parekh recommended three buy-or-sell stocks for Friday: Bharat Electronics Ltd, Container Corporation of India Ltd, and Indian Railway Finance Corporation Ltd (IRFC). 

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty witnessed a highly volatile session on the F&O segment expiry day of the month to end on a positive note near 23,250 zone, with anticipation of further rise till 23,500 level expected. Active participation is visible from the broader markets.”

“Volatility is anticipated on the eve of the budget session with 23,000 zone maintained as the crucial and important support level, with select counters expected to indicate a momentum pick up,” said the stock market expert.

“Bank Nifty, amid fluctuations, resisted near the 49,400 zone with HDFC Bank, ICICI Bank, Axis Bank and SBI technically well placed to anticipate for further upward move in the coming sessions. The index is poised required to breach the important hurdle of 49,700 level during the week. The 47,800 zone would be the crucial support zone, which needs to be sustained during this important scenario,” said Parekh.

Parekh said that the Nifty 50 Spot for today has support at 23,100 points and resistance at 23,500 points. The Bank Nifty index would have a daily range of 49,000 to 50,000. 

Buy or sell stocks by Vaishali Parekh 

1. Bharat Electronics Ltd. (BEL): Buy at 275; Target at 290; Stop Loss at 263. 

2. Container Corporation of India Ltd. (CONCOR): Buy at 757; Target at 800; Stop Loss at 740. 

3. Indian Railway Finance Corporation Ltd. (IRFC): Buy at 145; Target at 152; Stop Loss at 142. 

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.





Source link

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article