Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 30

Buy or sell stocks: The Indian stock markets closed higher for the second consecutive day on Wednesday, January 29, fueled by gains in banking and IT stocks. The Nifty 50 index closed 0.9 per cent higher at 23,163.10 points, compared to 22,957.25 points at the previous stock market close.

The BSE Sensex index closed 0.83 per cent higher at 76,532.96 points, compared to 75,901.41 in the previous market session. 

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 witnessed a decent pullback and closed above the 23,150 zone, with active participation from the broader markets ahead of the upcoming Union Budget 2025. Parekh estimates the Nifty 50 Spot index to find support at 23,000 points and face resistance at 23,400 points. The Bank Nifty index will likely move in the 48,800 to 49,800 range.

Parekh recommended three buy-or-sell stocks for Thursday: Hindustan Aeronautics Ltd, Anant Raj Ltd, and SRF Ltd. 

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty witnessed a decent pullback to close above the 23,150 zone, with active participation from the broader markets ahead of the budget session to ease out the sentiment to some extent. At the same time, high volatility is anticipated in the coming sessions this week.”

“There can be (an)  attempt to break above the important hurdle of 23,400 zone during this week with 23,000 zone maintained as the crucial and important support level,” said the stock market expert.

“Bank Nifty witnessed a marginal pullback as compared to Nifty index once again, finding resistance near the 49,200 zone, slightly easing out the sentiment. It would aim to breach the hurdle of 49,700 level during the week. The 47,800 level would be the crucial support zone, which needs to be sustained, a break below which can trigger intensified selling pressure,” said Parekh.

Parekh said that the Nifty 50 Spot for today has support at 23,000 points and resistance at 23,400 points. The Bank Nifty index would have a daily range of 48,800 to 49,800. 

Buy or sell stocks by Vaishali Parekh

1. Hindustan Aeronautics Ltd. (HAL): Buy at ₹3,655; Target at ₹3,800; Stop Loss at ₹3,550.

2. Anant Raj Ltd. (ANANTRAJ): Buy at ₹587: Target at ₹630; Stop Loss at ₹555.

3. SRF Ltd. (SRF): Buy at ₹2,650; Target at ₹2,710; Stop Loss at ₹2,610.

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.