Buy or sell: Vaishali Parekh recommends three stocks to buy after Trump-Zelensky meeting

Mint

3 days ago

Buy or sell stocks: Following the positive outcome from the Trump-Putin meeting, GST reforms and optimistic hopes from the Trump-Zelensky meeting, the Indian stock market ended higher on Monday for the third straight session. The Nifty 50 index finished 245 points higher at 24,876, the BSE Sensex ended 676 points higher at 81,273, and the Bank Nifty index gained 393 points and closed at 55,734.
Sector-wise, Nifty Auto led the charge with a stellar gain of 4.18%, followed by Nifty Realty, which rose 2.17%, and Nifty Metal, up 1.86%. FMCG and PSU Bank indices also traded positively, advancing 1.2% and 0.4%, respectively. On the downside, Nifty IT dipped 0.57%, while Energy, Pharma, and Media sectors remained essentially flat. Broader markets outperformed the benchmarks, with the Nifty Midcap 100 rising 1.08% and the Nifty Smallcap 100 adding 1.38%.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has improved as the Nifty 50 index closed above 50-DEMA resistance at 24,815 levels. Now, a decisive breakout above 25,100 would inject a fresh bull trend on Dalal Street. She said the market is expected to react to the outcome of the Trump-Zelensky meeting yesterday at the Oval Office.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index, after a long consolidation near the 100-DEMA level, finally indicated a strong pullback with a bullish candle formation to close above 50-DEMA level of 24,815 zone with bias and sentiment improving, and as mentioned earlier, a decisive breach above the 25,100 level shall establish conviction, and thereafter, we can expect stability in the coming sessions. Active participation from the broader markets has eased out the pessimism to some extent, which can trigger further upward movement of the indices."
"The Bank Nifty index, taking support near the 100-DEMA level of the 54,978 zone, has given an INSIDE BAR breakout above the 55600 zone during the intraday session, and we can expect a further rise with an initial target of the 56,500-56,800 level expected in the coming sessions. With the bias maintained intact till now, the crucial zone of the 55,000 level needs to be sustained to anticipate further recovery on the index," said Parekkh.
Parekh said that immediate support for the Nifty 50 index is 24,700, while the resistance is 25,100. The Bank Nifty would have the daily range of 55,000-56,300.
Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: UTI AMC, Nykaa, and Ola Electric Mobility.
1] UTI AMC: Buy at ₹ 1385, Target ₹ 1450, Stop Loss ₹ 1350;
2] Nykaa: Buy at ₹ 218, Target ₹ 228, Stop Loss ₹ 212; and
3] Ola Electric Mobility: Buy at ₹ 41, Target ₹ 45, Stop Loss ₹ 39.
Russian and Ukrainian presidents Vladimir Putin and Volodymyr Zelensky looked set for a peace summit after fast-moving talks Monday between Donald Trump and European leaders that focused on the key issue of long-term security guarantees for Kyiv.
The hope of a breakthrough rose after Trump said he had spoken by phone with Russian counterpart Putin, whom he had met in Alaska last week, following a "very good" meeting with the Europeans and the Ukrainian president at the White House.
It would be the first meeting between the Russian and Ukrainian leaders since Moscow's brutal invasion nearly three and a half years ago, and comes as Trump tries to live up to his promise to end the war quickly.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.