Stocks to buy today | Vaishali Parekh stock recommendations: Indian equities extended their recovery, supported by firmer global markets, positive business updates from select financial companies and positioning ahead of the RBI’s policy decision, which sustained buying interest through the session.
Brent traded around $101 after retreating from above $102, as recovering Middle East exports and proposed releases from emergency reserves reduced immediate supply concerns. However, this remains a moderation from an elevated level rather than a meaningful normalisation in energy costs. Crude staying near $100 continues to complicate India’s inflation and currency outlook and could influence the RBI’s guidance even if the near-term supply premium eases.
Stock market prediction by Vaishali Parekh
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market bias has improved after the pullback rallies on two successive sessions. However, she maintained that a decisive breach above the 23,000 level is necessary to establish conviction and clarity for further upward move.
Speaking on the outlook for the Nifty 50 index, Vaishali Parekh said, the 50-stock index indicated a strong revival from the low made near the 22,200 zone and with a positive candle formation on the daily chart, has closed on an optimistic note near the 22,800 level with bias and sentiment slightly improving, anticipating a further rise with the 23,000 zone as the initial target in the coming sessions.
“The index would have the crucial support near the 22,200 zone on the downside and on the upside, a decisive breach above the 23,000 level is necessary to establish conviction and clarity for further upward move,” said Parekh.
On the outlook for the Bank Nifty index, Vaishali Parekh of Prabhudas Lilladher said the key benchmark index witnessed some revival, closing just above the 55,000 level, sustaining the 54,000 zone as an important support area, and would need to pick up momentum to improve the overall bias and sentiment.
Vaishali Parekh recommends three stocks to buy today
Regarding stocks to buy today, Vaishali Parekh recommended three shares: IndiGo, IndusInd Bank, and GPIL.
1] IndiGo: Buy at ₹5040 | Target ₹5100 | Stop Loss ₹5020;
2] IndusInd Bank: Buy at ₹902 | Target ₹925 | Stop Loss ₹890; and
3] GPIL: Buy at ₹220 | Target ₹230 | Stop Loss ₹215.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
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