Buy or sell: Vaishali Parekh recommends three stocks to buy today — 23 April 2025
Buy or sell stocks: The Indian stock market gained for the sixth successive session. However, the weak global cues capped the market gains on Tuesday, April 22. The Nifty 50 index closed 41.70 points or 0.17% higher at 24,167.25 points after Tuesday's stock market session, compared to 24,125.55 points at the previous market close.
The BSE Sensex index closed 187.09 points or 0.24% higher at 79,595.59 points, compared to 79,408.50 points in the previous stock market session.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 index, after witnessing a strong run, finally halted near the 24,200 zone. The bias is maintained positive with the near-term support at the 23,800 zone. Parekh estimates the Nifty 50 Spot index to find support at 24,000 points and face resistance at 24,300 points. The Bank Nifty index will likely move in the 55,000 to 56,400 range.
Vaishali Parekh recommended three buy-or-sell stocks for Wednesday: Tube Investments, Godawari Power and Ispat, and Coal India.
On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, 'Nifty, after the strong run witnessed in the last 2 weeks, finally halted near 24,200 zone taking a breather and hovered near the important 200 period MA at 24,050 taking support with bias maintained positive having the near-term significant support positioned near 23,800 zone which once sustained, can expect for further upward move in the coming days.'
'The undertone has been maintained strong and with the trend getting stronger, one can anticipate positive gains in the coming days with higher targets visible,' said the stock market expert.
'Bank Nifty, extended the gains further but witnessed some resistance near the 56,000 zone after the overheated sessions witnessed in the last 2 weeks and some profit booking cannot be ruled out in the coming sessions. The zone near 55,500 level would be the near-term support for the index which if sustained, thereafter can expect for further upward move in the coming days with the upside targets of 56,200 and 57,500 levels, still open for the index,' said Parekh.
Parekh said that the Nifty 50 Spot for today has support at 24,000 points and resistance at 24,300 points. The Bank Nifty index would have a daily range of 55,000 to 56,400.
1. Tube Investments of India Ltd. (TIINDIA): Buy at ₹ 2,657; Target at ₹ 2,800; Stop Loss at ₹ 2,600.
2. Godawari Power and Ispat Ltd. (GPIL): Buy at ₹ 198; Target at ₹ 215; Stop Loss at ₹ 192.
3. Coal India Ltd. (COALINDIA): Buy at ₹ 399; Target at ₹ 430; Stop Loss at ₹ 382.
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 making any investment decisions.
First Published: 23 Apr 2025, 06:28 AM IST
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