Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 9

Following weakness in the global market, the Indian ended lower on Monday. The Nifty 50 index slipped 197 points and closed at 21,513 level, Sensex nosedived 670 points and closed at the 71,355 mark whereas the Bank Nifty index crashed 708 points and finished at 47,450 level. The small cap index fell 0.36%, outperforming the Nifty 50 index, even as the advance decline ratio fell sharply to 0.64:1.

Intraday trading tips for Tuesday Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index witnessed a big bearish candle on Monday and the 50 stock index is close to its crucial support zone of 21,500 level. Prabhudas Lilladhher expert went on to add that the next crucial support for Nifty today is placed at the 21,350 mark.

Parekh went on to add that volatility and fluctuations may continue for a few more sessions. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Hemisphere Properties, VETO Switch Gears, and Redington. Stock market today On the outlook for Nifty 50 today, Vaishali Parekh said, "Nifty after the small pullback, once again witnessed a big bearish candle with heavy profit booking seen to erode the gains and has arrived near the crucial support zone of 21,500 levels with bias turning cautious.

The next important support level would be near 21,350 levels of the lower band of the ascending channel pattern on the daily chart below which the bias and sentiment shall turn weak and with the result season beginning, we anticipate volatility and fluctuations in the market." "Bank Nifty tanked heavily losing more than 700 points and closing near 47,450 levels with all the major frontline banking stocks shedding their gains.

With the index eroding heavily, the bias has turned a little bit cautious with the next major support zone maintained near 46,300 levels," said Parekh. Parekh went on to add that immediate support for Nifty today is placed at the 21,350 zone while the resistance is seen at the 21,650 level. Bank Nifty would have a daily range of 47,000 to 47,800 levels.

Stocks to buy today Buy at 172, target 182, stop loss 168; Buy at 131.85, target 142, stop loss 129; and Buy at 181, target 191, stop loss 177. 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!.