Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 20

livemint.com:

Subscribe to enjoy similar stories. Buy or sell stocks today: Indian stock market indices Sensex and Nifty 50 closed relatively subdued on Thursday, September 19, compared to global and Asian indices, in response to the United States Federal Reserve's (FED) rate cut on Wednesday. The Nifty 50 index closed 0.15 per cent higher at 25,415.80 points, compared to 25,377.55 points at its previous market close.

The BSE Sensex closed 0.29 per cent higher at 83,184.80 points after Thursday's market session, compared to 82,948.23 points at the previous close. Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said that Nifty has once again created history, reaching new highs at 25,611 level. Thereafter, it witnessed heavy profit booking among the broader markets to slightly create an atmosphere of a cautious approach.

Parekh estimates the Nifty 50 Spot index to get support at 25,300 points and face resistance at 25,600 points. The Bank Nifty index will likely move in a range of 52,700 to 53,600 today. For today, Parekh recommended three buy-or-sell stocks: Indian Hotels Co.

Ltd, Century Textiles & Industries Ltd, and Dabur India Ltd. For the outlook on the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty once again created history scaling new high at 25,611 level, thereafter, witnessing heavy profit booking especially among the broader markets to slightly create an atmosphere of cautious approach." “The index would have the crucial support of 24,200 level while on the upside 25,900 level is the initial target," said the stock market expert. “Bank Nifty has been gradually gaining strength and retested the previous peak zone of 53,357 level to improve the bias and can anticipate for further rise once