Best Stocks to Buy Today After India-Pakistan Ceasefire
Best stocks to buy today: The new ceasefire agreement between India and Pakistan has led to some geopolitical relief, however, Indian stock markets remain volatile. After a good start to the week, domestic indices had also closed poorly, in which the uncertainty anywhere and everywhere caused investor unease.
Market activity After Ceasefire
Even after the ceasefire agreed by India and Pakistan, Indian stock markets saw substantial selling last week. On Friday, Nifty 50 fell 265 points, or 1.1%, closing at 24,008, just above the nice round number of 24,000. The BSE Sensex fell by a big 880 points (1.10%), closing at 79454, its biggest intra-day decline since April 7.
This decline happened following a day when markets had also taken Thursday off for a holiday and border tensions had continued to be severe enough to influence investor sentiment a great deal.
Expert Perspective – Technical Analysis and levels of Aim
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher noted that Nifty 50 finds support in the vicinity of 23800 points, with resistance at 24400 points. Parekh commented that the next distinct breakout (on one side of the above range) will determine the market in the short term.
She pointed out, “After the Nifty 50 index fell below the important 200-period moving average (MA) of 24,050, market sentiment is very bearish. To re-establish the bull trend, we need a clear breakout above 24,400.” Until then, market players should remain vigilant.
Bank Nifty Update
The Bank Nifty really saw selling pressure after starting weak around 53,600 to close at the same level after making a 770-point intraday loss. The index is below support at 54,000, with the next important level to watch is 52,000. Parekh recommends watching the daily levels of 53,400 to 54,600.
Vaishali Parekh Stock Picks
In the midst of the turmoil, Vaishali Parekh has identified three potential stocks from technical indicators and market action. These picks come with the freshest information on economic and political developments.
Protean eGov Solutions
Buy Price: ₹1269
Target Price: ₹1320
Stop Loss: ₹1230
This stock has an established track record of moving up and is still going up. By doing constant consolidation at high levels, Protean eGov has a good risk-reward for investors.
MMTC
Buy Price: ₹52
Target Price: ₹56
Stop Loss: ₹50
MMTC looks like it is getting out of its consolidation phase and is supported by good trading volume. As a result of ceasefire developments, it is seen as a good trade in the short term as it is garnering interest from investors.
GRSE (Garden Reach Shipbuilders and Engineers)
Entry Price: ₹1799
Target Price: ₹1900
Stop Loss Position: ₹1730
GRSE remains a strong marker in defense. Currently, price progression suggests there is more to come. In light of current defenses, we continue to be an added watch list.
In Conclusion
Tension between India and Pakistan has cooled with the recent ceasefire, but the markets certainly remain jittery. In the coming months, traders and investors should continue to check key levels and trust technicals.
The latest news on business will continue to inform the marketplace, as a result traders must stay astute and adaptable as international events dictate market sentiment. The market recommendations (Protean eGov, MMTC, GRSE) offered by Vaishali Parekh, represent a mix of moderate safety and growth outlook in uncertain times.
