Stocks to Buy: Vaishali Parekh, Vice President, Technical Research at Prabhudas Lilladher, has said about the stock market movement today that Nifty is holding above the 25,000 range and with a positive bias, Nifty has reached new highs near the level of 25,130. Once again, with profit booking closing near the 25,000 zone, it looks ready to rise further to the next target of 25,600 level. At the same time, regarding the stocks to buy today, Vaishali Parekh has recommended three stocks. These include Engineers India Limited, IndusInd Bank Limited and Wipro Limited.
On the outlook for Nifty50 and Bank Nifty indices, Parekh said, “Nifty is well poised for further upside towards the next target of 25,600 level, provided the support near 24,900 level holds for now.
Regarding Bank Nifty, Parekh said, “Bank Nifty is resisting near 51,400 levels during the session, seeing sluggish movement compared to the overall Nifty index. Nifty 50 has support at 24,900 for today, while resistance is at 25,200. The daily range of Bank Nifty index will be 50,800 to 51,700.
Adani Group will invest ₹3500 crore in this state, shares will be in focus today
Vaishali Parekh’s suggested stocks
Engineers India Limited: Buy at Rs 220, target at Rs 240 and stop loss at Rs 213.
Indusind Bank Ltd: Buy at Rs 1,415, target Rs 1,450 and do not forget to place a stop loss at Rs 1,390.
Wipro Limited: Buy at Rs 534.6, target Rs 560 and stop loss at Rs 522.
Let us tell you that the benchmark index of the Indian stock market, Nifty 50, touched a new record high level on Wednesday, August 28. After Wednesday’s trading session, Nifty closed at 25,052.35 points with a gain of 0.14 percent, while in the previous trading session Nifty closed at 25,017.75 points.
The 30-share sensitive index Sensex of Bombay Stock Exchange closed at 81,785.56 with a gain of 0.09 percent in the morning, while in the previous market it had closed at 81,711.76 points.
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own and not of anytv. Investing in the stock market is subject to risks and consult your advisor before investing.)
