Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 27

Buy or sell stocks for today: The Indian stock market extended its upside movement for the third straight session on Wednesday. The Nifty 50 index finished 147 points higher at 23,868, whereas the BSE Sensex shot up 620 points and closed at 78,674. The Bank Nifty index ended 264 points higher at 52,870. In the broad market, the small-cap index scaled 0.15 percent higher, while the mid-cap index ended 0.29 percent lower.

Vaishali Parekh's stocks to buy today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that the Indian stock market mood has turned highly bullish as the Nifty 50 index has decisively breached above 23,800. The Prabhudas Lilladher expert said that the 50-stock index is now heading for the next short-term target of 24,500 while the index has made a new baseline at 23,500.

Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy or sell stocks: GMR Infra, Snowman Logistics, and Biocon.

Stock market today

On the outlook for Nifty today, Vaishali Parekh said, “Nifty has gained strength since the last three sessions to almost touch the 23,900 zone, breaching above our target of 23,800 levels. It is aiming for the next higher target of 24,500 levels in the coming days. The index has elevated the support zone to 23,500 levels and, with the strong, robust move witnessed, is expected to rise further in the coming days.”

"The Bank Nifty index is well poised for further rise, almost reaching the 53000 zone, and with the important support maintained near 51000 levels, has much scope for upside movement in the coming days with higher targets of 53500 and 55100 levels visible, as mentioned earlier," said Parekh.

Parekh went on to add that the Nifty's immediate support today is at 23,700, while the resistance is at 24,000. The Bank Nifty would have a daily range of 52,500 to 53,400.

Vaishali Parekh's stock recommendations today

1] GMR Infra: Buy at ₹98.30, target ₹104, stop loss ₹96;

2] Snowman Logistics: Buy at ₹74.40, target ₹78, stop loss ₹72.50; and

3] Biocon: Buy at ₹352, target ₹370, stop loss ₹345.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.