Buy or sell: Vaishali Parekh recommends three stocks to buy today

The Bank Nifty index outperformed the frontliners and jumped 957 points, or nearly 2%, to close at 51,398. Cash market volumes on the NSE rose to ₹1.77 lakh crore aided by a clutch of bulk deals. Broad market indices fell more than the Nifty even as the advance decline ratio fell to 0.65:1. 

Vaishali Parekh’s stocks to buy today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that Nifty would have the target of 23,800 levels while 23,200 would remain as the crucial support level. The Prabhudas Lilladher expert said the Bank Nifty has indicated a big positive bullish candle formation moving past the 51,000 zone to trigger a breakout and anticipate further rise in the coming sessions. 

Regarding stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — Coforge, Balrampur Chini Mills and Clean Science and Technology.

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Stock market today

On the outlook for Nifty today, Vaishali Parekh said, “Nifty has been gradually moving ahead making new highs but with fluctuations and volatility witnessed some profit booking to end marginally in the red near 23,500 zone. The index would have the important near-term target of 23,800 level, while 23,200 zone would remain as the crucial support level as of now”. 

Most of the frontline banking stocks indicating a positive spurt has signified strength for the Bank Nifty index to carry on with the positive move further ahead for the next target of 53,500 levels, she added. 

According to Parekh, Nifty today has support at 23,400 levels while the resistance would be seen at 23,650 levels. Bank Nifty would have the daily range of 51,000 – 52,000 levels.

Also Read: Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 20

Buy or sell stocks by Vaishali Parekh

1] Coforge: Buy at ₹5,395; Target ₹5,600; Stop Loss: ₹5,280

2] Balrampur Chini Mills : Buy at ₹440.85; Target ₹462; Stop Loss: 430

4] Clean Science and Technology: Buy at ₹1,394; Target ₹1,455; Stop Loss: ₹1,365

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 20 Jun 2024, 07:53 AM IST