Buy or sell stocks: Vaishali Parekh recommends three shares for today — January 17, 2025 | Stock Market News

Buy or sell stocks for today: Indian markets continued their positive momentum for the third consecutive session on Thursday, January 16, driven by global trends. Key US CPI data for December was below expectations, raising hopes that the US Federal Reserve might reduce interest rates sooner than anticipated.

The expectations for a rate cut, along with strong earnings from major US financial institutions like JP Morgan, Wells Fargo, Citibank, and Goldman Sachs, and the announcement of a ceasefire agreement between Israel and Hamas, helped fuel optimism and supported the bullish market sentiment.

Amid these favorable developments, the Nifty 50 finished the day with a 0.42% increase, closing at 23,311, while the Sensex ended at 77,042, also reflecting a 0.42 per cent rise from the prior close.

The Nifty Smallcap 100 index climbed 1.67 per cent, reaching 17,643, while the Nifty Midcap 100 index ended with a 1.08 per cent gain at 54,483.

Vaishali Parekh’s stocks today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Amid some volatility during the intraday session, the Nifty managed to close above the 23,300 zone, slightly improving the bias and sentiment.”

For Bank Nifty, the Prabhudas Lilladher expert said, “Witnessing a decent pullback,   BankNifty closed above the 49,000 zone, slightly improving the bias. A decisive close above the important 49,700 level shall establish conviction for a further rise in the coming days.”

Stock market today

For today’s outlook on the Nifty 50, Parekh said, “A decisive breach above the 23,500 zone is much required to establish conviction and thereafter, anticipate for further rise in the coming days, with targets of 23,900 and 24,200 levels expected by the month end. The 23,000 zone would be the important and crucial support level as of now.”

On Bank Nifty, she said, “The PSU Banks have started picking up with volume participation. A decisive move past the 200-period MA at 50,800 level shall further strengthen the trend overall.”

The Nifty’s support for the day is seen at 23,150 levels and the resistance at 23,500 levels. BankNifty would have a daily range of 48,900-49,800 levels.

Buy or sell stocks by Vaishali Parekh

1.HAL: Buy HAL at ₹3,919 with a target price of ₹4,200 and a stop loss of ₹3,800.

2. Biocon: Buy Biocon at ₹393 with a target price of ₹410 and a stop loss of ₹380.

3. Swan Energy: Buy Aarti Industries at ₹688 with a target price of ₹670 and a stop loss of ₹720.

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.