Parekh Picks 3 Stocks as Gift Nifty Signals Tepid Open Above 24,000
Updated
Updated · TradingView · Sep 2
Parekh Picks 3 Stocks as Gift Nifty Signals Tepid Open Above 24,000
1 articles · Updated · TradingView · Sep 2
Summary
Gift Nifty pointed to a muted Indian market open on Sept. 2, trading below its previous close and Tuesday’s spot Nifty close even as it indicated Nifty 50 could start above 24,000.
Surging crude oil, higher global bond yields and escalating US-Iran war tensions were cited as the main drags on sentiment, keeping benchmark indices under pressure.
Vaishali Parekh said Nifty faces resistance near 24,150 and a bigger hurdle at 24,400, while 23,800 remains the crucial support investors should watch to keep the broader uptrend intact.
Bank Nifty closed near 57,400 and remains stuck in a 57,000-58,500 range, with Parekh saying a decisive move above 58,600 is needed to open targets of 59,600 and 60,500.
For intraday trades, she recommended buying Mphasis at Rs 2,505, Jindal Stainless at Rs 734 and Rain Industries at Rs 206.55, each with specified targets and stop-loss levels.