Vaishali Parekh Recommends Three Stocks to Buy Amid Nifty's Latest Surge

Indian Stock Market Remains Volatile, Ends Marginally Higher on Friday

The Indian stock market remained volatile on Friday, with the key benchmark indices showing mixed cues. Despite the uncertainty, the Nifty 50 index ended 64 points higher at 23,719. The BSE Sensex gained 231 points and closed at 75,415. The Bank Nifty index also gained 615 points and finished at 54,055.

Sectoral participation remained mixed, with banking, financials, and metals leading the gains, while pharma and IT counters traded relatively subdued. The broader markets remained muted, with both midcap and smallcap indices ending almost unchanged. This was reflected in the overall market breadth.

Gift Nifty Signals a Gap-Up Opening on Monday

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The Gift Nifty Live Chart is signaling a big gap-up opening on Monday. The index is trading around 24,000 levels, nearly 300 points higher than the Nifty spot close on Friday. According to Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, the Gift Nifty live chart is signalling a gap-up opening on Dalal Street.

Nifty 50 Outlook

Vaishali Parekh believes that the 50-stock index may target 24,300 levels after sustaining above the 50-DEMA hurdle placed at 24,000. On the outlook of the Nifty 50 today, Parekh said the index would target to achieve the 50-DEMA level at 24,000 zone in the coming sessions. Further ahead, the 24,300 band would be the crucial hurdle which needs to be breached decisively to establish conviction. On the downside, the index would continue to have the important support at 23,200 zone which needs to be sustained.

Bank Nifty Outlook

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Parekh said that the Bank Nifty index indicated an optimistic move during the session which was missing for a long time and recovering from the 53,500 zone closed the session just above the 54,000 zone with some of the frontline banking stocks like ICICI Bank and Axis Bank indicating improvement in the bias expecting for further rise in the coming sessions.

Vaishali Parekh's Stock Recommendations

Regarding stocks to buy today, Vaishali Parekh recommended the following three stocks:

These recommendations are based on Parekh's analysis of the market trends and technical indicators.