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Buy or Sell Stocks for Muhurat Trading: Vaishali Parekh Recommends Three Stocks to Buy Today – Samvat 2081

Buy or Sell Stocks for Muhurat Trading: Vaishali Parekh Recommends Three Stocks to Buy Today – Samvat 2081

Stock market today: Following weak sentiment in global markets, the Indian stock market closed lower for the second straight session on Thursday. The Nifty 50 index lost 135 points to close at 24,205, the BSE Sensex corrected 553 points to close at 79,389 and the Nifty Bank index closed 251 points lower at 51,555. Cash market volumes remained stable over the past few days , which indicates a lack of particular conviction among participants on both sides. The small-cap index closed 1.6% higher, although its advance-to-decline ratio remained steady at 1.82:1.

Vaishali Parekh Promotions for Muhurat Trading 2024

Vaishali Parekh, vice-president, technical research, Prabhudas Lilladher, said bias in the Indian stock market has weakened as the Nifty 50 index failed to cross the barrier set at 24,700. Expert Prabhudas Lillader says the Nifty 50 index has crucial support at 24,000. A break below this closing support would indicate sharp selling pressure, and after this break, the 50-share could touch 23,400.

As for stocks to buy today, Vaishali Parekh recommended buying these three stocks during Muhurat Trading 2024: HDFC Bank, BSE and Jio Financial Services.

Stock market today

Speaking on the outlook for Nifty today, Vaishali Parekh said, “The Nifty 50 Index has once again eased bias by creating another lower top on the daily chart and has a crucial support zone at 24,000 levels which, if breached, could reverse the course ” The trend is weak and a new downward movement can be expected. As mentioned earlier, the index will have a major and important support zone at the significant 200-day MA in the 23,400 zone, which will be the deciding factor in the coming days.”

“The Nifty, finding resistance near the 52,400 zone, fell further lower as profit booking became visible and moved below the important 50-EMA level at the 51,700 zone with the bias turning weak. The index will get crucial support around 50,400 levels, below which the trend will turn bearish, expecting another fall,” Parekh said.

Parekh said Nifty has immediate support at 24000 today while resistance is seen at 24400. Bank Nifty will have a daily range of 51000 to 52000.

Buy or sell Vaishali Parekh shares

1) HDFC Bank: Buy at 1738, target 1850, stop loss 1710;

2) HES: Buy at 4480, target 5000, stop loss 4100; And

3) Jio Financial Services: Buy at 322, target 340, stop loss 310.

Disclaimer: The opinions and recommendations expressed above are those of the individual analysts or brokerage firms and not Mint. We advise investors to consult with certified experts before making any investment decisions.