Buy or sell: Vaishali Parekh recommends buying these three stocks today – January 10

Stock Market News: Domestic benchmark indices Nifty 50 and Sensex ended flat on Tuesday sessions in the midst of mixed global cues. Moreover, the investors are looking forward to important macroeconomic data as well as the December quarter earnings of IT giants Tata Consultancy Services (TCS) and Infosys, scheduled this week. The 30-share Sensex ended slightly higher by 30.

99 points, or 0. 04%, at 71,386. 21, after rising sharply during the day.

The Nifty 50 ended the day 31. 85 points, or 0. 15%, higher at 21,544.

85. The BSE smallcap gauge rose 0. 37% and the midcap index increased 0.

07% in the broader market. Among the sectoral indices, realty surged 2. 52%, power rose 1.

1%, autos jumped 1. 02%, healthcare rose 0. 90%, capital goods jumped 0.

89%, and consumer discretionary rose 0. 68%. Conversely, the loser sectors were consumer durables, bankex, telecommunication, and FMCG.

“Positive sentiments in the Indian IT sector fuelled by a US tech rally and demand on emerging technologies, overshadowed the anticipated muted Q3 results of the sector. Auto & realty continued to remain favourites on account of strong demand. Market optimism about potential softening of US inflation is driving expectations of near-term rate cuts, bolstering overall sentiment.

But in-between profit booking is emerging due to mixed cues from Asian markets as well high valuation concerns,” said Vinod Nair, Head of Research, Geojit Financial Services. Day trade guide by Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher for Wednesday’s session: Nifty 50 daily range 21,400-21,700 Parekh said Nifty 50 has been hovering between a tight range for some time with bias maintained positive and, as said earlier, needs to breach the 21,700–21,750 zone decisively to indicate a fresh breakout for further upward move. At the same time, the 21,450 levels, where 20 DMA lies, are acting as a strong support zone as of now.

With a break below 20 DMA, the next support is at the 21,250 level. Bank Nifty also has the overall sentiment and bias intact and needs to breach the 48000–48200 zone decisively for a fresh further upside move, with currently 46300 levels maintained as a good support zone, according to Parekh. “However, the support for the day is seen at 70,900/21,400, while the resistance is seen at 71,800/21,700.

Bank Nifty would have a daily range of 46,800–47,800 levels,” said Parekh. Vaishali recommends buying the following stocks: Buy DCX Systems Ltd at 351. 05 with a stoploss of 340 and a target price of 375.

Buy Ltd at 424. 85 with a stop loss of 410 and a target price of 460. Buy TD Power Systems Ltd at 282.

55 with a stop loss of 275 and a target price of 300. Nifty Spot Index Support – 21,400/21,450 Resistance – 21,750/21,800 Bank Nifty Spot Index Support – 46,800/46,900 Resistance – 47,800/48,000 Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away!.