Buy or Sell: Vaishali Parekh recommends three stocks to buy today — September 25

Buy or Sell Stocks Today: Domestic equity benchmarks Sensex and Nifty 50 continued their winning streak on Tuesday and hit all-time record highs, but stabilised after fluctuating between marginal gains and losses throughout the day. Gains in metal stocks on China's fresh monetary stimulus measures were later wiped out by profit-booking, especially in select banking and fast-moving consumer goods (FMCG) stocks.

During the morning trade, the Sensex crossed the 85,000 mark for the first time and the Nifty 50 touched the historic 26,000 level at the last moment. According to traders, after the record rise, investors do not get clear guidelines.

The 30-share BSE Sensex closed 14.57 points, or 0.02 per cent, lower at 84,914.04. During the day, it jumped 234.62 points, or 0.27 per cent, to a new all-time peak of 85,163.23.

The Nifty50 closed marginally higher by 1.35 points or 0.01 per cent at 25,940.40. During the day's trade, it climbed 72.5 points or 0.27 per cent to hit its fresh record intra-day high of 26,011.55. It took 38 sessions for the NSE index to reach 26,000 from 25,000.

Last Wednesday, the US Federal Reserve cut interest rates by 50 basis points, raising hopes of increased foreign investment in Indian equities. The most significant boost on the day came when China, a top producer of several metals including steel and coal, took a slew of measures to boost its sluggish economy.

The Nifty metal index jumped 3 per cent, the most among 13 key sectoral gains, to its highest level in nearly two months. Shares of Tata Steel, Hindalco and JSW Steel rose between 0.5 per cent and 4 per cent, while NALCO emerged as the biggest index gainer, rallying over 6 per cent. Analysts said a growing domestic economy would prevent Chinese steelmakers from dumping low-priced steel in other countries, including India, in search of profits.

In global markets, gold prices hit an all-time high on Tuesday, driven by several positive triggers such as expectations of an interest rate cut by the US Fed and China's economic stimulus measures. Spot gold rose 0.2 per cent to $2,633.25 per ounce after touching a record $2,639.95 earlier in the day. US gold futures rose 0.2 per cent to $2,657.90.

International crude oil prices rose two per cent to a three-week high following monetary stimulus from the world's biggest importer China and concerns that conflict in the Middle East could hit regional supplies. At the same time, another storm threatened supplies in the US, the world's biggest crude producer.

Brent futures rose $1.27, or 1.7 per cent, to settle at $75.17 a barrel, while US West Texas Intermediate (WTI) crude rose $1.19, or 1.7 per cent, to settle at $71.56. This was the highest close for Brent since September 2. In the domestic market, crude oil futures were last up 1.46 per cent. It traded at Rs 5,985 per barrel on the Multi Commodity Exchange (MCX).

Vaishali Parekh shares to buy today

Vaishali Parekh, VP – Technical Research, Prabhudas Lilladher, said, “After a strong rally in the last two sessions, Nifty has again created history by breaching the psychological mark of 26,000 and maintained a strong bullish trend, expecting further upside.”

For Bank Nifty, Prabhudas Lilladher expert said, “After a good rally seen from 50 EMA zone of 51,000 levels, Bank Nifty has taken a breather near 54,200 zone and the bias remains positive.”

With regard to stocks that investors can buy, Vaishali Parekh recommends three intraday stocks for today: LTIMindtree, Apollo Tyres and Aurobindo Pharma.

stock market today

For today's outlook on Nifty 50, Parekh said, “The next target for the Nifty 50 index is 26,400, with the 25,600 zone holding as near-term support for now.”

According to the expert, “Support for the day is seen at Rs 25,800 level, while resistance is seen at Rs 26,100 level.”

Regarding Bank Nifty, Parekh said, “The next targets for the Bank Nifty index in the coming days will be 55,100 and 56,600 levels, provided the support zone of 52,300 holds.”

Stocks to buy today

1. Aurobindo Pharma: Buy Aurobindo Pharma at a target price of 1,500 1,600 with stop loss 1,460.

2. LTImindtree: Buy LTIMindtree at a target price of Rs 6,350 6,600 with stop loss 6,250.

3. Apollo Tyres: Buy Apollo Tyres at a target price of Rs 529 550 with stop loss 520.

Disclaimer: The views and recommendations expressed in this analysis are those of the individual analysts or broking companies and not of Mint. We strongly advise investors to seek advice from certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.