Stocks to buy | Vaishali Parekh’s stock recommendations: The key benchmark indices of the Indian stock market ended higher on Monday. The Nifty 50 index ended 134 points higher, while the BSE Sensex gained 473 points. Among the sectoral indices, FMCG and Capital Markets outperformed, rising by more than 1.5%, while the Healthcare index was the biggest laggard, shedding over 1%.
The advance was notable for its breadth, with mid- and small-cap stocks participating alongside the benchmark indices, suggesting that the session was driven by broader buying rather than a narrow rebound in heavyweight stocks.
Stock market outlook by Vaishali Parekh
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that Dalal Street bias has improved following Monday’s pullback rally.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said the 50-stock index witnessed a volatile session, with an intraday low near the 22,400 zone, then recovered to close near the 22,550 level, improving the bias and sentiment, with the market mildly easing out as of now.
“The Nifty 50 index would have the near-term support at the 22,200-22,300 zone, while on the upside we anticipate further moves ahead till the 22,800-23,000 levels in the coming days,” she said.
On the outlook for the Bank Nifty index, Parekh said the key benchmark index took support near the 53,800 zone and, after witnessing a decent pullback, closed above the 54,500 zone, improving the bias; a further rise is anticipated. One can expect the next targets at the 10-DMA level of 55,280 and the 20-DMA level of 55,900 in the coming days, with 53,800 remaining the near-term support level.
“The support for the day is seen at 22,400 levels, while the resistance would be seen at 22,800 levels. BankNifty would have the daily range of 54,000-55,300 levels,” said Vaishali Parekh of Prabhudas Lilladher.
Vaishali Parekh’s stock recommendations for today
Regarding stocks to buy today, Vaishali Parekh recommended these three shares: ITC, MRPL, and KEI Industries.
1] ITC: Buy at ₹368 | Target ₹383 | Stop Loss ₹358;
2] MRPL: Buy at ₹172 | Target ₹183 | Stop Loss ₹167; and
3] KEI Industries: Buy at ₹4612 | Target ₹4800 | Stop Loss ₹4500.
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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