Buy or sell: Vaishali Parekh recommends three stocks to buy today — 22 April 2025

Buy or sell stocks: Propelled by strong Q4 earnings from key private sector lenders such as ICICI Bank and HDFC Bank, the Indian stock market ended higher for the fifth straight session on Monday. The Nifty 50 index finished 273 points higher at 24,125, the BSE Sensex shot up 855 points northward at 79,408, while the Bank Nifty index rallied 1,014 points and closed at 55,304.

Sectoral performance was broadly positive. Nifty IT surged 2.5%, led by strong moves in Tech Mahindra and HCL Tech. Nifty Auto advanced over 2%, while Metal, Oil & Gas, PSU Bank, and Realty indices each posted gains exceeding 2%. On the downside, the Nifty FMCG index underperformed, slipping nearly 1%, dragged lower by losses in ITC, Hindustan Unilever, and Varun Beverages. Broader markets outshone the frontline indices, with the Nifty Midcap 100 climbing 2.5% and the Nifty Small Cap 100 rising 2.2%, reflecting strong participation across the market spectrum.

Stock market today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market is in a bull trend. The Nifty 50 index regained the psychological 24,000 mark and closed above 24,100, indicating that the index is poised to touch 24,800 and 25,300 levels.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index extended the gains further with a strong session witnessed once again to close above the important 200-period MA of 24,050 level to strengthen the trend and has further scope of upward movement in the coming days. The index has indicated a robust move in the last 2 weeks and has now further upside targets of 24,800 and 25,300 levels with the near-term important support positioned near the 100-period MA at the 23,400 zone, which needs to be sustained as of now."

"The Bank Nifty index witnessed another strong upward move to record a high level scaling above 55,000 zones. It is a strong territory with an overall positive trend. As mentioned earlier, the index would have the next upside targets of 56,200 and 57,500 levels, with the 53,800 level maintained as the important and crucial support zone, which needs to be sustained," said Parekh.

Parekh said that support for Nifty today is placed at 24,000, while the resistance is at 24,400. The Bank Nifty would have a daily range of 54,700 to 56,000.

Vaishali Parekh's stock recommendations today

Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: Castrol, MRPL, and JSW Energy.

1] Castrol: Buy at ₹205, Target ₹215, Stop Loss ₹200;

2] MRPL: Buy at ₹141, Target ₹153, Stop Loss ₹135; and

3] JSW Energy: Buy at ₹522, Target ₹550, Stop Loss ₹508.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.