Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 11

On account of Reliance Industries Ltd's (RIL) share price hitting a lifetime high on Wednesday, the Indian extended its Tuesday gains and ended higher for yet another session. The Nifty 50 index finished 73 points higher at the 21,618 level, the Sensex surged 271 points and closed at the 71,657 mark whereas the Bank Nifty index gained 118 points and ended at the 47,360 level.

The mid cap index rose less than the Nifty 50 index even as the advance decline ratio remained positive at 1.10:1. Intraday trading tips for Thursday Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Indian stock market sentiments have improved after the pullback in the post lunch session on Wednesday.

Prabhudas Lilladher expert maintained that crucial support for Nifty 50 today has risen towards the 21,450 level. However, Vaishali Parekh went on to add that the Bank Nifty index needs to breach the 48,000 to 48,200 zone decisively for a fresh further upside move. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today — NBCC, IPCA Lab, and RITES.

Stock market today On the outlook for Nifty 50 today, Vaishali Parekh said, "Nifty remained subdued in the initial half of the trading session hovering near the 21,550 zones and thereafter post lunch session witnessed a strong pullback to close just above the 21,600 levels with sentiment once again improving.

The 50 stock index has maintained the support zone of the rising channel pattern on the daily chart and further rise is anticipated with the 21,450 level as the near term support." "Bank Nifty also witnessed a pullback from the 47,000 zone in the morning session but thereafter, remained flat for the rest part of the day with major frontline banking stocks remaining sluggish.

As mentioned earlier, the index needs to breach above the 48000–48200 zone decisively for a fresh further upside move, with currently 46,300 levels maintained as a good support zone," said Parekh. Parekh went on to add that immediate support for Nifty today is placed at the 21500 level, while the resistance is seen at the 21,750 mark.

Bank Nifty would have a daily range of 47,000 to 47,800 level. Stocks to buy today Buy at 62.50, target 97, stop loss 90; Buy at 1116, target 1170, target 1090; and Buy at 524, target 560, stop loss 515. 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!.