Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, has identified three stocks for investors to consider buying on November 25, 2024. Her recommendations come amid a recovering Indian stock market, where the Nifty 50 index has shown resilience and is currently navigating key support and resistance levels.
Market Overview
The Indian stock market experienced fluctuations but ended positively during the last trading session. The Nifty 50 closed at 23,907.25, marking a 2.39% increase, while the BSE Sensex surged by 2.54% to close at 79,117.11. This rally was largely driven by major index constituents such as Reliance, Infosys, ICICI Bank, and TCS.
Key Levels to Watch
Vaishali Parekh highlights that the Nifty has established support at 23,700 and faces resistance at 24,100. For the market to maintain its upward trajectory, it is crucial for the Nifty to sustain levels above 23,200-23,300. The Bank Nifty is expected to trade within a range of 50,500 to 51,800 today.
Recommended Stocks for Today
Parekh has recommended three stocks that investors should consider:
1. BGR Energy Systems Ltd (BGRENERGY)
- Buy at: ₹36.7
- Target Price: ₹39
- Stop Loss: ₹35
BGR Energy Systems has shown potential for growth as it approaches key resistance levels. Investors are advised to enter at the recommended price with a defined stop loss to manage risk.
2. Exide Industries Ltd (EXIDEIND)
- Buy at: ₹424
- Target Price: ₹440
- Stop Loss: ₹415
Exide Industries is positioned well within its trading range and is expected to benefit from positive market sentiment. The target price reflects a favorable risk-reward ratio based on current market conditions.
3. Tata Motors Ltd (TATAMOTORS)
- Buy at: ₹792
- Target Price: ₹820
- Stop Loss: ₹780
Tata Motors has demonstrated strong performance indicators and is poised for further gains if it maintains momentum above critical support levels.
Conclusion
Investors looking for opportunities in the current market environment may find value in the stocks recommended by Vaishali Parekh. With the Nifty showing signs of recovery and key technical indicators supporting further upside potential, these selections could provide promising returns.
Disclaimer
The views and recommendations provided in this analysis are those of individual analysts and do not represent the views of Mint or any affiliated entities. Investors are encouraged to consult with certified financial experts before making any investment decisions due to the inherent risks involved in trading.
