Stock Market Volatility: Expert Recommends 3 Stocks to Buy Now

Navigating the Turbulent Stock Market

The Indian stock market continued its rollercoaster ride today, swinging between gains and losses. The Nifty 50 index, a key benchmark, dipped 174 points to close at 24,826, while the BSE Sensex fell 624 points to 81,551. Despite these declines, mid-cap and small-cap stocks bucked the trend, finishing in positive territory.

Vaishali Parekh’s Positive Outlook

Nifty 50 on the Rise?

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, remains optimistic about the market’s direction. She points out that the Nifty 50’s position above 24,500 indicates a positive bias. Parekh believes the index could surge to 25,400 once it breaks through and sustains above the crucial 25,000 level.

Support and Resistance Levels

Parekh emphasizes the importance of key levels for the Nifty 50. She sees 24,500 as a vital support level that needs to hold for the positive momentum to continue. On the upside, she expects resistance near 25,000. For the Bank Nifty index, she suggests a range of 55,000 to 56,000 for the day.

Vaishali Parekh’s Top Stock Picks

Based on her analysis, Parekh recommends three stocks for investors to consider buying today:

• Reliance Power:

  Buy at ₹52, with a target price of ₹56 and a stop-loss of ₹47

• Aarti Industries:

  Buy at ₹477, with a target price of ₹505 and a stop-loss of ₹468

• Refex Industries:

  Buy at ₹459, with a target price of ₹480 and a stop-loss of ₹445