Buy or sell: Vaishali Parekh recommends three stocks to buy today — 24 February 2025

Buy or sell stocks: The Indian stock markets witnessed selling pressure from investors on Friday, February 21, closing lower with heavy losses in the pharmaceutical and automotive stocks, dragging the benchmark indices lower. The Nifty 50 index closed 0.51 per cent lower at 22,795.90 points, compared to 22,913.15 points at the previous market close.

The BSE Sensex index closed 0.56 per cent lower at 75,311.06 points after Friday’s stock market session, compared to 75,735.96 points at the previous market close. 

Vaishali Parekh’s stock recommendations today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 index witnessed selling pressure and closed below the important support zone of 22,800 level. The bias and the sentiment for the index is maintained and a cautious approach is recommended. Parekh estimates the Nifty 50 Spot index to find support at 22,600 points and face resistance at 23,000 points. The Bank Nifty index will likely move in the 48,600 to 49,600 range.

Vaishali Parekh recommended three buy-or-sell stocks for Monday: SBI Life Insurance Co. Ltd, Kaynes Technology India Ltd, and Kansai Nerolac Paints Ltd.

Stock market today

On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty succumbed to selling pressure and closed just below the crucial support zone of 22,800 level with bias and sentiment maintained with a very cautious approach. The index is currently precariously placed and if it sustains below the 22,800 zone, then there can be further slide expected with 22,500 zone as the next important zone to be watched for.”

“On the upside, we continue to maintain our view, only a decisive move past the near-term hurdle of 23,000 zone shall confirm an improvement in bias and expect for further rise,” said the stock market expert.

“Bank Nifty, with profit booking witnessed slipped down below the 50,000 zone to weaken the bias and further ahead, a decisive breach below the important support of 48,500 level shall trigger for fresh selling pressure with next major and crucial support positioned near 47,800 zone. For the bias to improve, the index needs to move past the resistance hurdle of 49,700 zone to anticipate for further rise in the coming days,” said Parekh.

Parekh said that the Nifty 50 Spot for today has support at 22,600 points and resistance at 23,000 points. The Bank Nifty index would have a daily range of 48,600 to 49,600.

Buy or sell stocks by Vaishali Parekh

1. SBI Life Insurance Co. Ltd. (SBILIFE): Buy at ₹1,500; Target at ₹1,550; Stop Loss at ₹1,480.

2. Kaynes Technology India Ltd. (KAYNES): Buy at ₹4,384; Target at ₹5,000; Stop Loss at ₹4,200.

3. Kansai Nerolac Paints Ltd. (KANSAINER): Buy at ₹243; Target at ₹255; Stop Loss at ₹233.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.