Vaishali Parekh recommends 3 stocks to buy today: Coforge, Lalithaa Jewellery, Titan; target, stop-loss, market outlook
Growing investor scepticism around elevated valuations and delayed monetisation cycles in high-flying AI hardware and chipmakers led global funds to reallocate capital away from overextended semiconductor plays. Indian IT service providers, offering stable execution and attractive valuations, emerged as a preferred defensive destination, capturing redirected global flows.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes Dalal Street bias has improved, but the Nifty 50 index would have the important 50-EMA level in the 23,300 zone, which needs to be decisively breached to establish positive conviction.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said the 50-stock index, after witnessing initial fluctuations, picked up well and continued its upward move, closing in the green near the 23,150 zone, above the resistance hurdle of 23,100, with bias and sentiment improving.
“The Nifty 50 index would have the important 50-EMA level at 23,300 zone, which needs to be decisively breached above to establish conviction and thereafter, can expect further upward move in the coming days with 22,200 zone positioned as the crucial and major support,” Parekh added.
On the outlook for the Bank Nifty today, Vaishali Parekh said, the key benchmark index witnessed a range-bound session, resisting near the 55,900 level, anxiously awaiting the results of the major banking stocks like HDFC Bank, ICICI Bank and Axis Bank, which shall decide the further course of the movement in the coming days.
"A decisive move above the important 200-period MA at 56,900 level is necessary to establish conviction and thereafter, to anticipate for further rise in the coming days, whereas on the downside, the 54,000 zone shall be positioned as the important support which needs to be sustained to maintain the overall bias intact, the Prabhudas Lilladher expert added.
Vaishali Parekh of Prabhudas Lilladher said that support for the Bank Nifty today is at 23,000, while resistance is at 23,400. The Bank Nifty index would have a daily range of 56,600-55,200.
Regarding stocks to buy today, Vaishali Parekh recommended three stocks to buy today: Coforge, Lalithaa Jewellery Mart, and Titan.
1] Coforge: Buy at ₹1,950 | Target ₹2,030 | Stop Loss ₹1,900;
2] Lalithaa Jewellery Mart: Buy at ₹371 | Target ₹385 | Stop Loss ₹360; and
3] Titan: Buy at ₹4,480 | Target ₹4,650 | Stop Loss ₹4,400.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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HomeMarketsStock MarketsVaishali Parekh recommends 3 stocks to buy today: Coforge, Lalithaa Jewellery, Titan; target, stop-loss, market outlook
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