Buy or Sell: Vaishali Parekh Recommends Three Stocks to Buy Today — 6 February 2025
Stock Market Today: Nifty and Sensex Performance
Buy or Sell: Vaishali Parekh Recommends Three Stocks to Buy Today — 6 February 2025The Indian stock market witnessed a mixed session on Wednesday, with key benchmark indices closing in the red. The BSE Sensex slipped 312.53 points (0.40%) to close at 78,271.28, while the NSE Nifty 50 dropped 42.95 points (0.18%) to settle at 23,696.30.
Despite losses in benchmark indices, mid-cap and small-cap stocks saw significant gains, with the small-cap index rising by 1.9% and mid-caps advancing by 0.7%. Market experts believe that investors are waiting for the RBI’s policy announcement on Friday, which is expected to include a 25 basis point rate cut—a move that could further boost market sentiment.
Expert Recommendation: Stocks to Buy Today
Renowned market analyst Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, shared her insights on the market’s direction. She pointed out that Nifty faced resistance at the 23,800 level and remained rangebound. The index, however, continues to maintain a positive bias as investors look forward to the RBI policy outcome.
For the Bank Nifty, Parekh noted that the index traded within a narrow range of 50,300-50,500 levels, with 49,700 acting as strong support. A breakout above 50,900 is required to confirm further upward momentum.
Based on her technical analysis, Parekh recommended three intraday stocks for 6 February 2025, with specific target prices and stop-loss levels. These stocks are:
- Jindal Steel & Power Ltd (JSPL)
- Adani Ports and Special Economic Zone Ltd
- Central Depository Services (India) Ltd (CDSL)
Vaishali Parekh’s Stock Picks for 6 February 2025
1. Jindal Steel & Power Ltd (JSPL)
- Buy at: ₹819
- Target Price: ₹860
- Stop Loss: ₹800
JSPL has been exhibiting strong bullish momentum, with recent breakouts indicating further upside potential. Investors can consider buying at ₹819, aiming for a target of ₹860, while maintaining a stop-loss at ₹800 to manage risk.
2. Adani Ports and Special Economic Zone Ltd
- Buy at: ₹1,145
- Target Price: ₹1,180
- Stop Loss: ₹1,120
Adani Ports continues to demonstrate steady growth, backed by strong fundamentals and increased cargo handling capacity. A breakout above ₹1,180 could trigger a further rally, making it a good pick for the day.
3. Central Depository Services (India) Ltd (CDSL)
- Buy at: ₹1,351
- Target Price: ₹1,420
- Stop Loss: ₹1,310
CDSL remains a high-potential stock, supported by the increasing number of retail investors entering the market. The technical setup suggests an upward move towards ₹1,420 if it sustains above ₹1,351.
Market Outlook: Key Support and Resistance Levels
For Nifty 50, the key levels to watch are:
- Support: 23,500
- Resistance: 23,900
For Bank Nifty, the range is:
- Support: 50,000
- Resistance: 50,900
Parekh emphasized that the 200-period moving average (MA) at 24,000 is a crucial resistance level for Nifty. A decisive break above this level could confirm a strong bullish trend in the coming days. Similarly, Bank Nifty must breach 50,900 to sustain an upward rally.
Key Financial Ratios of Recommended Stocks
| Stock | Current Price (₹) | P/E Ratio | P/B Ratio | Market Cap (₹ Cr) | Dividend Yield (%) | 52-Week High (₹) | 52-Week Low (₹) |
|---|---|---|---|---|---|---|---|
| JSPL | 819 | 12.5 | 1.8 | 83,500 | 1.2 | 900 | 580 |
| Adani Ports | 1,145 | 25.3 | 4.1 | 2,45,000 | 0.8 | 1,250 | 900 |
| CDSL | 1,351 | 30.2 | 6.5 | 14,500 | 0.5 | 1,450 | 1,050 |
Final Thoughts
With Nifty and Sensex trading in a range-bound manner, expert recommendations provide valuable insights for traders looking for short-term opportunities. The RBI’s upcoming policy decision could be a major factor influencing market trends.
Investors are advised to keep an eye on the recommended stocks, follow stop-loss strategies to mitigate risks, and stay updated on market developments.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.