Market Upbeat: Vaishali Parekh Recommends 3 Stocks to Buy Now!
Market Shows Strength After a Positive Start
The Indian stock market had a solid opening on Monday, but ultimately traded within a narrow range. Despite this, the Nifty 50 index climbed 148 points, reclaiming the psychologically important 25,000 mark. The BSE Sensex also saw a good day, adding 455 points to close at 82,176. The Bank Nifty index gained 173 points, finishing at 55,572. All sectors ended in the green, with auto and IT leading the charge.
Vaishali Parekh Sees Continued Growth
Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the market has gained momentum. The Nifty 50’s bounce back from the 24,460 level, and its recent retest of the 25,000 mark, signal further upward movement. Parekh predicts the index could reach 25,400 soon.
Looking Ahead: Key Levels to Watch
Parekh points out that the crucial support zone for the Nifty is around 24,500. As long as this level holds, the positive outlook remains. She expects the Nifty to face resistance at 25,200. For the Bank Nifty, Parekh anticipates a daily trading range between 55,200 and 56,000, with a potential breakout above 55,800 triggering further gains towards 57,200 and 58,500.
Parekh’s Top Stock Picks
Based on the market’s current performance, Parekh recommends buying these three stocks:
- Jamna Auto: Buy at ₹92, Target ₹96, Stop Loss ₹90
- HUDCO: Buy at ₹238, Target ₹250, Stop Loss ₹232
- IFCI: Buy at ₹57, Target ₹65, Stop Loss ₹54
