Buy or sell stocks today: Indian stock market indices Sensex and Nifty 50 surged over one per cent each to hit fresh record highs in the morning market session on Friday, September 20. The Nifty 50 index closed 1.48 per cent higher at 25,790.95 points after Friday’s trading session, compared to 25,415.80 points at the previous market close.
The BSE Sensex closed 1.63 per cent higher at 84,544.31 points after Friday’s session, compared to 83,184.80 points at the previous market close.
Vaishali Parekh’s stocks to buy today
Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said that the Nifty indicated a big bullish candle after a short period of consolidation to gain strength, reaching an all-time high and breaching the 25,800 zone, with sentiments getting much better. Parekh estimates the Nifty 50 Spot index to get support at 25,650 points and face resistance at 26,000 points. The Bank Nifty index will likely move in a range of 53,600 to 54,400 today.
For today, Parekh recommended three buy-or-sell stocks: Havells India Ltd, Century Plyboards (I) Ltd, and Indegene Ltd.
Stock market today
On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty indicated a big bullish candle after a short period of consolidation to gain strength scaling the all-time high and breaching the 25,800 zone with sentiment getting much better.”
“The index has almost reached the 25,900 level and with the frontline stocks gaining momentum, has much steam to achieve the next target of 26,300 level in the coming days,” said the stock market expert.
“Bank Nifty finally conquered above the previous peak of 53,357 zone, to hit the new high above 54,000 levels with upside potential visible and is anticipated to rise further with a majority of the frontline banking stocks beginning to gain strength. The index would have the next immediate target of 55,100 levels as mentioned earlier with 52,000 zone as the important support zone,” said Parekh.
Parekh said that the Nifty 50 for today has support at 25,650, while the resistance lies at 26,000. The Bank Nifty index would have a daily range of 53,600 to 54,400.
Buy or sell stocks by Vaishali Parekh
1. Havells India Ltd. (HAVELLS): Buy at ₹2,048; Target at ₹2,150; Stop Loss at ₹2,000.
2. Century Plyboards (I) Ltd (CENTURYPLY): Buy at ₹895; Target at 940; Stop Loss at ₹870.
3. Indegene Ltd (INDGN): Buy at ₹662; Target at ₹700; Stop Loss at ₹648.
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 taking any investment decisions.
