Buy or sell stocks: Vaishali Parekh recommends three shares for today — January 15, 2025 | Stock Market News

Buy or sell stocks for today: Indian markets saw a strong rebound on Tuesday, January 14, following four consecutive sessions of selling pressure that dragged frontline indices to a seven-month low.

The Nifty 50 rose 0.39% to close at23,176.05, while the Sensex registered a 0.22% gain, ending the day at 76,499.63. Mid-cap and small-cap stocks, which faced a bearish sentiment in recent days, also recorded gains.

The Nifty Small-cap 100 index surged 1.98 per cent to finish at 17,257, and the Nifty Midcap 100 index advanced 2.45 per cent, closing at 53,676.

Although the frontline indices closed in positive territory, they surrendered a portion of their early gains towards the session’s end. Similarly, while broader market indices pulled back from their intraday highs, they managed to outperform the frontline indices.

Several factors, including the strong rebound of the Indian rupee, a drop in crude oil prices, domestic inflation reaching a four-month low, value buying at lower levels, and favourable global signals, especially from China, contributed to the positive note.

A continuation of this recovery in the upcoming trading sessions will hinge on the U.S. inflation data, with the Consumer Price Index (CPI) report set to be released on Wednesday.

Market participants will also closely monitor Thursday’s jobless claims data, which will offer more insight into the U.S. economy following Friday’s impressive nonfarm payroll numbers.

Vaishali Parekh’s stocks today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty has witnessed a slight pullback to reach above the 23,000 zone. It would need to carry on with the positive momentum further to restore some lost sentiment and regain strength.

For Bank Nifty, the Prabhudas Lilladher stock market expert said, “BankNifty gained by more than 600 points to indicate a significant bounce back and has closed above the 48,500 zone, slightly improving the bias.”

Stock market today

For today’s outlook on the Nifty 50, Parekh said, “The index needs to move past the important levels of 23,300 and 23,500 zone decisively to establish conviction, and thereafter expect a further rise in the coming days.”

On Bank Nifty, she said, “The levels near 49,700 would be important, which needs to be breached above decisively to establish conviction for further rise. The PSU Banks have indicated a significant spurt with volume participation, anticipating a further upward before the upcoming budget session.”

The support for the day is seen at 23,000 levels while the resistance is seen at 23,350 levels. Bank Nifty would have a daily range of 48,300-49,300 levels.

Buy or sell stocks by Vaishali Parekh

1.Nalco: Buy Nalco at ₹198 with a target price of ₹210 and a stop loss of ₹190.

2. Sun Pharmaceuticals: Buy Sun Pharma shares at ₹1,767 with a target price of ₹1,800 and a stop loss of ₹1,745.

3. CG Power: Buy CG Power at ₹638 with a target price of ₹680 and a stop loss of ₹600.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.