Purchase or Sell: Today, January 20, Vaishali Parekh suggests purchasing three stocks

Purchase or Sell: Today, January 20, Vaishali Parekh suggests purchasing three stocks

Purchase or Sell: Today, January 20, Vaishali Parekh suggests purchasing three stocks

Purchase or Sell Stocks: Vaishali Parekh suggests investing in Hindustan Copper, Jamna Auto, and Can Fin Homes as three stocks to purchase today.

Stock Market Today: According to Vaishali Parekh of Prabhudas Lilladher, the 50-stock index is facing resistance above 21,750 levels, while the Nifty 50 index now has important support at 21,300.

Buy or Sell Stocks for Today: On Saturdays and Sundays, the Indian stock market is usually closed, but on January 20, 2024, trades will be conducted on Dalal Street from 9 AM to 3:30 PM. This judgment was made prior to Monday, January 22, the Ram Temple 'Pran Pratishtha' event at Ayodhya. As a result, India's stock market will be closed on Sunday, January 21, 2024, and Monday, January 22, 2024.

The key benchmark indexes of the Indian stock market saw a strong comeback on Friday thanks to positive sentiments throughout the world. The Nifty 50 index concluded 160 points higher at 21,622 points and the BSE Sensex closed 496 points higher at 71,683 points after three days of declines. Still, the Bank Nifty index ended the day slightly down at 45,701.

suggestions for intraday trading

After a strong decline on Friday, Vaishali Parekh, vice-president of technical research at Prabhudas Lilladher, thinks that the market's attitude has changed. Expert Prabhudas Lilladher, however, said that if the 50-stock index makes a clear break above the 21,750 region, the general trend would improve. According to Vaishali, the Nifty 50 index still has short-term support around 21,300.

Vaishali Parekh has recommended three intraday stocks to purchase today: Can Fin Homes, Jamna Auto, and Hindustan Copper.

current stock market

Vaishali Parekh provided the following analysis on the Nifty 50's prognosis for today: "The index saw gains once again after a strong rebound from the 21,300 zone, with some improvement in bias and sentiment and a near-term objective of 21,700. Anticipated till." level 21,750. If the index shows a clear break above 21,750 regions to revisit the all-time high and the short-term support is held above 21,300 levels in the next days, the overall trend should improve.

However, since HDFC Bank continued to lose money and is very close to its 52-week low of ₹1460, the Bank Nifty stayed quiet and had a tiny negative bias. The index will have a sizable and crucial support zone, according to Parekh. , "The important 200 period MA area needs to hold the 44,600 levels."

Parekh went on to say that the Nifty 50 index's current levels of support are around 21,500, while 21,750 represents resistance. The Bank Nifty will fluctuate between 45,400 and 46,000 points per day.

stocks that are worthwhile purchasing right now

1] Indian Copper: Purchase at ₹264.85, aim for ₹280, and halt loss at ₹260;

Two] Jamna Auto: Purchase at ₹112.45, aim for ₹119, and halt loss at ₹109; and

3] Can Fin Homes: Purchase at 794, aim for 822, and halt loss at 784.