Stock Market Guide: Top Picks by Vaishali Parekh for December 28
Market Highlights
- Market Rally: Nifty hits record high at 21,675, extending the Indian stock market rally for the fourth session.
- Expert Advice: Vaishali Parekh predicts continued market rise, highlighting key frontline stocks.
- Top Picks: Parekh recommends LIC Housing Finance, VRL Logistics, and Zen Tech for intraday trading amidst bullish trends.
In line with robust global market sentiments, the Indian stock market extended its rally for the fourth consecutive session on Wednesday (December 27). The Nifty 50 index achieved a new milestone, touching a high of 21,675 and closing at its highest-ever level of 21,654. The BSE Sensex surged by approximately 1%, closing at 72,038, while the Bank Nifty index gained 1.17%, reaching a new peak of 48,347 after closing at 48,282.
Despite broad market indices rising less than the Nifty, the advance-decline ratio remained positive at 1.07:1, indicating overall market strength.
Intraday Trading Tips for Thursday from Vaishali Parekh
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, expressed optimism about the bullish trend in the stock market, anticipating further gains in Indian indices. Parekh noted that the participation of frontline stocks like HDFC Bank, SBI, AXIS Bank, and Kotak Bank could contribute to the market’s positive momentum.
Stock Recommendations for Today
Vaishali Parekh recommended three intraday stocks for today:
LIC Housing Finance (Finance and insurance company)
Buy at ₹524
Target ₹547
Stop Loss ₹515
VRL Logistics (commonly known as the VRL Group)
Buy at ₹750
Target ₹780
Stop Loss ₹740
Zen Tech (designs, develops and manufactures state-of-the-art Combat Training Solutions)
Buy at ₹810
Target ₹850
Stop Loss ₹795
Market Outlook by Vaishali Parekh
Parekh remains optimistic about the Nifty 50, stating, “Nifty created history once again, breaching above the previous peak zone of 21,593 levels, strengthening the trend with an anticipated rise to the next target of 22,300 levels.” She highlighted the strong pullback in Bank Nifty, indicating a breakout above the previous peak and foreseeing a target of 49,800 levels.
Parekh specified immediate support for Nifty at 21,500, with resistance at 21,800. Bank Nifty’s daily range is projected between 48,000 and 48,700 levels.
Investors are advised to consider these recommendations with market conditions in mind, as the bullish trend continues to shape the Indian stock market.