Buy or sell stocks today: India’s Nifty stock index closed higher for the sixth consecutive session on Thursday, August 22. Boosted by positive signals from global markets, the index closed 0.17 percent higher at 24,811.50 points, compared to 24,770.20 points at the previous close.
The Bombay Stock Exchange (BSE) Sensex closed 0.18 percent higher at 81,053.19 points after Wednesday’s session, compared to 80,905.30 points at the previous close.
These Vaishali Parekh shares you should buy today
Vaishali Parekh, Vice President, Technical Research, Prabhudas Lilladher, says Nifty continues to gain strength and is steadily reaching the 24,800 zone. As market sentiment remains strong, it is expected to target the 25,000 zone. Parekh estimates that the Nifty 50 Spot Index will find support at 24,700 points and resistance at 25,000 points. The Bank Nifty Index would see a daily range of 50,600-51,500 today.
In terms of stocks to buy today, Vaishali Parekh recommends three stocks to buy or sell: Tata Chemicals Ltd., Indian Hotels Co. Ltd. and Latent View Analytics Ltd.
Stock market today
Commenting on the outlook for the Nifty 50 and Bank Nifty Index, Vaishali Parekh said, “Nifty continues to gain steady strength and is gradually reaching the 24800 zone, with the trend and sentiment as mentioned earlier remaining strong and expected to target the 25000 zone in the coming days.”
“The broader markets are also gaining strength and supporting the benchmark index. A further increase is expected, so that an upward trend will continue,” said the stock market expert.
“Bank Nifty closed on a positive note, facing resistance near the 51,000 zone and as mentioned earlier would need a decisive break above the 51,000-mark barrier to trigger a fresh upside move, with the next targets at 52,600 and 53,500 visible in the next few days,” Parekh said.
Parekh added that the Nifty 50 has a support at 24,700 today while the resistance is at 25,000. The Bank Nifty index would have a daily range of 50,600-51,500.
Buy or sell stocks buy Vaishali Parekh
1. Tata Chemicals Ltd. (TATACHEM): Buy at ₹1,085.45; target at ₹1.130; Stop Loss at ₹1,060.
2. Indian Hotels Co. Ltd. (INDHOTEL): Buy at ₹644.60; target at ₹674; Stop Loss at ₹630.
3. Latent View Analytics Ltd. (LATENT VIEW): Buy at ₹510.90; target at ₹535; Stop Loss at ₹498.
Disclaimer: The views and recommendations expressed in this article are those of individual analysts. They do not reflect the views of Mint. We advise investors to seek advice from certified professionals before making any investment decisions.
