Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 18 | Stock Market News

Buy or sell stocks for today: Domestic equity benchmarks Sensex and Nifty 50 logged across-the-board selling pressure in the previous session, dragged by a continued flight of foreign capital amid a negative global market trend. Investors maintained a cautious approach in the market ahead of the much-awaited US Federal Reserve’s interest rate decision, due later today, for which Wall Street traders have priced in a quarter-point policy reduction.

For the second day in a row, the 30-share BSE benchmark Sensex tanked 1,064.12 points, or 1.30 per cent, to 80,684.45, below the psychological 81,000 level. The Nifty tumbled 332.25 points or 1.35 per cent to 24,336.

All sectoral indexes except media fell. The more domestically focused small-caps and mid-caps declined 0.7 per cent and 0.8 per cent, respectively. The Indian rupee weakened to its lifetime low. Foreign investors likely sold stocks after data showed India’s trade deficit widened to a record level in November. Investors’ wealth tumbled ₹4.92 lakh crore on Tuesday.

The market capitalisation of BSE-listed firms eroded by ₹4,92,644.06 crore to ₹4,55,13,913.24 crore ($5.36 trillion). While a 25 basis points (bps) interest rate cut is widely expected and priced in for later today, markets are bracing for US Fed policymakers to scale back its easing next year in anticipation of higher inflation under the Donald Trump administration.

Vaishali Parekh’s stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty has been finding resistance near the 24,750 zone for quite some time and tanked heavily, breaking below the important 50EMA level of 24,450 zone, weakening the overall bias and turning the sentiment into a cautious approach.”

For Bank Nifty, the Prabhudas Lilladher expert said, “Bank Nifty has slipped down from the resistance zone of 53,800 levels with heavy profit booking witnessed and would have the significant 50EMA-level of 52,200 as the next important support, a breach of which would further weaken the trend.”

Vaishali Parekh recommended three intraday stocks for today: RateGain Travel Technologies, Aster DM Healthcare, and National Fertilizers Ltd.

Stock market today

For today’s outlook on the Nifty 50, Parekh said, “The index would have the psychological support zone of 24,000 level and would be eagerly awaiting the US Fed outcome, which can decide the further directional move in the coming days.”

On Bank Nifty, she said, “At the same time, as mentioned earlier, for further fresh upside move, a decisive breach above the 53,850 zone is necessary to confirm a breakout in the coming days.”

Nifty 50’s support for the day is seen at 24,200 levels, while the resistance would be at 24,500 levels. Bank Nifty would have the daily range of 52,200-53,500.

Buy or sell stocks by Vaishali Parekh

1.RateGain Travel Technologies: Buy RateGain Travel Technologies at ₹741.90 with a target price of ₹775 and a stop loss of ₹725.

2.Aster DM Healthcare: Buy Aster DM Healthcare at ₹488 with a target price of ₹514 with a stop loss of ₹476.

3.National Fertilizers Ltd: Buy National Fertilizers Ltd at ₹125.50 with a target price of ₹135 and a stop loss of ₹122.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.