Buy or sell: Vaishali Parekh recommends three stocks to buy today — 12 February 2025

Buy or sell stocks: Domestic equity benchmarks Sensex and Nifty 50 extended their losing streak for the fifth running day in the previous session to settle a two-week low dragged by across-the-board selling, unabated foreign fund outflows and fresh US tariffs reigniting global trade war fears.

The 30-share BSE Sensex plunged by 1,018 points or 1.32 per cent to settle at 76,293.60. During the session, the index tumbled 1,281.21 points or 1.65 per cent to 76,030.59. The NSE Nifty cracked 309.80 points or 1.32 per cent to 23,071.80, with 44 of its constituents closing lower and six with gains.

The blue-chip Nifty 50 and BSE Sensex have tumbled a shade over two per cent in the past two sessions. The broader, more domestically focused mid-cap and small-cap indexes have slid a steeper five per cent. Sensex is now about 10,000 points below its all-time high of 85,978 points. Sensex has so far slumped three per cent year-to-date (YTD). The domestic currency fell closer to 88-level, falling nearly three per cent against the US dollar this year.

Also Read: Market Mayhem: Nifty Midcap 100 sinks 3%; 50% of index stocks crash up to 60% from recent highs

Stocks to buy today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty 50 witnessed a big bearish candle with heavy profit booking seen to touch the important and crucial support zone of 23,000 level during the intraday session but managed to close near 23,070 levels with bias and sentiment maintained with a very cautious approach as of now.”

For Bank Nifty, the Prabhudas Lilladher stock market expert said, “Bank Nifty gave in with selling pressure witnessed losing almost 600 points to end near the 49,400 zone with bias turning weak having the near-term support of 48,800 levels which needs to be sustained failing which the previous major low of 47,900 can be retested in the coming days. 

Vaishali Parekh recommended three intraday stocks for today: Oil India, Sun Pharmaceutical Industries, and Vedanta Ltd.
 

Also Read: Tata Motors, LIC, Coal India, GAIL… nearly 500 stocks fall to 52-week lows today amid stock market crash

Stock market today

For today’s outlook on the Nifty 50, Parekh said, “The index needs to sustain the 23,000 zones as mentioned earlier, and expect a pullback in the coming sessions. Failing which, the index can drag further to retest the previous low of 23,800 zones.”

On Bank Nifty, she said, “The 50,600 zone has been acting as the tough barrier on the upside, and only a decisive breach above the 200 DMA level of 50,900 shall bring conviction and confirm for a fresh upward move in the coming days.”

The day’s support is seen at 22,900 levels, while the resistance is seen at 23,300 levels. Bank Nifty would have a daily range of 49,000-50,000 levels.

Also Read: LIC, Coal India to GAIL: These 5 PSU stocks hit 52-week low amid stock market crash

Buy or sell stocks by Vaishali Parekh

1] Oil India: Buy Oil India at ₹411 with a target price of ₹425 and a stop loss of ₹400.

2] Sun Pharmaceutical Industries Ltd: Sell Sun Pharmaceutical Industries Ltd at ₹1,700 with a target price of ₹1,670 and a stop loss of ₹1,725.

3] Vedanta Ltd: Sell Vedanta at ₹422 with a target price of ₹400 and a stop loss of ₹435.

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.