Buy or sell stocks: Vaishali Parekh recommends three stocks for today – January 14, 2025

Buy or sell shares for today: Domestic equity benchmarks Sensex and Nifty 50 extended their losing streak for the fourth time in a row, dragged by heavy selling in global equities and a spike in international crude oil prices, amid continued concerns over slowing domestic corporate earnings.

On Monday, the 30-share BSE benchmark Sensex fell 1,048.90 points or 1.36 per cent to settle at 76,330.01. During the day, the price fell by 1,129.19 points, or 1.45 percent, to 76,249.72. The NSE Nifty fell 345.55 points, or 1.47 percent, to close at 23,085.95. Both benchmarks closed at about seven-month lows.

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The broader, more domestically focused small- and mid-caps fell four percent each, reflecting relatively richer valuations that could be tested if corporate earnings disappoint, market analysts said. The midcap index recorded the biggest decline in seven months.

Strong US employment data dashed expectations for an early rate cut, and the rupee posted its sharpest one-day decline in almost two years. The continued outflow of foreign funds also dampened investor sentiment. Investors now anticipate just one rate cut of 25 basis points by the US Federal Reserve in 2025.

That lifted 10-year government bond yields to a 14-month high and pushed the US dollar higher, making emerging markets less attractive for investment. This exacerbated foreign outflows, leading to a sharp decline in Indian markets.

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Investors lost ₹24.69 lakh crore in market appreciation in the last four days. In the last four sessions, Sensex gained 1,869.1 points or 2.39 percent. The market capitalization of companies listed on the BSE has eroded ₹24,69,243.3 crore ₹4,17,05,906.74 crore ($4.82 trillion) in four days.

The sharp fall in stock prices on Monday saw the market capitalization of BSE-listed companies dip below the $5 trillion mark. Meanwhile, government data on Monday showed India’s retail inflation had eased to a four-month low of 5.22 percent in December 2024, mainly due to the easing of food basket prices.

Vaishali Parekh shares today

Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said: “Nifty has fallen below the important and crucial support zone of 23,250-23,300 levels, weakening the overall trend and triggering a further decline, thereby increasing the bias and sentiment have changed into a very cautious mood. mode.”

According to Parekh, weak global signals and falling value of the rupee are major concerns for the Indian economy, which needs improvement to anticipate a market revival.

About Bank Nifty, stock market expert Prabhudas Lilladher said, “Bank Nifty has broken the 48,500 zone, become much weaker compared to the Nifty and witnessed a losing streak for the fourth consecutive session.”

Vaishali Parekh has recommended three intraday stocks for today: Piramal Pharma Ltd, Poonawalla Fincorp Ltd and Precision Camshafts Ltd.

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Fair today

On today’s outlook for the Nifty 50, Parekh said, “On the other hand, the index has the next major support near the 22,800 level and then the base of the descending channel, which is around 22,300 zones.

On Bank Nifty, she said, “Without respite from the selling pressure, the index is in a precarious position and has a next support zone at 47,300 and 46,700 levels, below which the overall trend would turn bearish.”

The support of Nifty 50 for today is at 22,850 levels while the resistance is at 23,300 levels. Bank Nifty is said to have a daily range of 47,400-48,600 levels.

Buy or sell shares of Vaishali Parekh

1. Piramal Pharma Ltd: Buy Piramal Pharma Ltd at ₹233 with a target price of ₹250 and a stop loss of ₹225.

2. Poonawalla Fincorp Ltd: Sale of Poonawalla Fincorp Ltd ₹303 with a target price of ₹290 and a stop loss of ₹310.

3.Precision Camshafts Ltd: Buy Precision Camshafts Ltd at ₹350 with a target price of ₹370 and a stop loss of ₹338.

Disclaimer: The views and recommendations expressed in this analysis are those of individual analysts or brokerage firms, not Mint. We strongly advise investors to consult 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.