Buy or sell: Vaishali Parekh of Prabhudas Lilladher recommends three stocks to buy today — 29 May 2025

Mint

29-05-2025

Buy or sell stocks: After a lacklustre trading session, the Indian stock market ended lower on Wednesday. The Nifty 50 index ended 73 points lower at 24,752. The BSE Sensex finished 239 points downside at 81,312, while the Bank Nifty index added 64 points and closed at 55,417. The India VIX Index finished 2.79 per cent lower at around 18.01. A mixed trend was seen among the sectors, where Media and PSU Bank were the top performers, whereas FMCG and Auto lagged. Divergence was seen in the Broader market's performance, where Midcaps ended in red while Smallcaps outperformed the Frontline Index by ending the day in green.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market is cautious and optimistic as the Nifty 50 index is sustaining above 24,500. The Prabhudas Lilladher expert said the Nifty 50 index is trading in the tight 24,500 to 25,000 range, and a bullish or bearish trend can be assumed on the breakage of either side of the range. However, she maintained that 24,500 support may remain sacrosanct, and the benchmark index may soon touch 25,400 after breaking above 25,000 on a closing basis.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index remained range-bound throughout the session, and with some profit booking witnessed closed near the 24,750 level, with the index overall consolidating within a narrow band for quite some time. With the sentiment maintained with a cautiously positive approach, the index would need to breach above the 25,000 zone decisively, having the near-term support near the important 20-period MA at the 24,650 level, which, if sustained, can regain the positive move for further rise in the coming days. The support for the day is seen at 24,500 levels, while the resistance is seen at 25,000 levels."
"The Bank Nifty index has sustained the crucial support zone of 55,000 levels once again and has closed near the 55,400 level, keeping the bias intact, and with most of the PSU banking stocks looking well set for further rise, we expect the index to gain strength in the coming days. As mentioned earlier, the index would need a decisive breach above the zone of 56,000 levels to improve the bias and thereafter trigger a further rise in the coming days. The Bank Nifty index would have a daily range of 55,000 to 56,000 levels," Parekh said.
Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: Bank of India, NCC, and CSB Bank.
1] Bank of India: Buy at ₹ 119, Target ₹ 130, Stop Loss ₹ 115;
2] NCC: Buy at ₹ 237, Target ₹ 255, Stop Loss ₹ 230; and
3] CSB Bank: Buy at ₹ 372, Target ₹ 400, Stop Loss ₹ 360.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.