Vaishali Parekh stock recommendations

Buy or Sell: Vaishali Parekh Recommends Three Stocks to Buy Today — July 4

Vaishali Parekh’s Top Stock Picks for July 4, 2024

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, has recommended three stocks to buy today, July 4, 2024. The stocks are EPL, FSL, and Archean Chemicals.

Stock Recommendations for Today

Vaishali Parekh has identified three stocks to buy today: SAIL, Paras Defence, and NMDC. Here’s a closer look at her recommendations:

SAIL (Steel Authority of India Limited)
- Buy at: ₹151.60
- Target: ₹158
- Stop Loss: ₹148
Paras Defence
- Buy at: ₹1500
- Target: ₹1570
- Stop Loss: ₹1470
NMDC
- Buy at: ₹251.20
- Target: ₹264
- Stop Loss: ₹245

Market Overview

The Indian stock market showed strength on Wednesday, boosted by positive global market sentiments and the buzz around the US Fed rate cut. Key indices hit new lifetime highs, with the Nifty 50 ending at 24,286 after reaching a peak of 24,309. The BSE Sensex closed at 79,986 after hitting a high of 80,074. Bank Nifty also saw gains, closing at 53,089 after reaching a peak of 53,256. Vaishali Parekh stock recommendations

Cash market volumes on the NSE rose 2.4% to ₹1.36 lakh crore, with broad market indices rising more than the Nifty. The advance-decline ratio was a positive 1.7:1. Vaishali Parekh stock recommendations

Expert Insights

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, notes that the Nifty 50 has regained strength and hit a new high above the 24,300 mark. She predicts that the index will reach near-term targets of 24,500 and 24,900. Vaishali Parekh stock recommendations

Nifty 50 Outlook:

Support Levels: Near-term support at 24,000 and major support at 23,700
Resistance Levels: Immediate resistance at 24,400
Target Levels: 24,500 and 24,900

Bank Nifty Outlook:

Support Levels: Daily support at 52,000 and overall trend strong as long as 51,000 is sustained
Target Levels: 53,500 and 55,100
Daily Range: 52,600 to 53,700

Conclusion

With the Nifty 50 and Bank Nifty indices reaching new highs, Vaishali Parekh’s stock picks—SAIL, Paras Defence, and NMDC—are well-positioned for potential gains. These recommendations align with the market’s positive momentum and the technical outlook for the coming days. Vaishali Parekh stock recommendations