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Top 3 stocks to buy today: The key benchmark indices of the Indian stock market are likely to open the session on a cautious note, as elevated crude oil prices and escalating tensions in the Middle East continue to overshadow otherwise supportive regional cues. Although GIFT Nifty, trading around 23,950 against the Nifty's previous close of 23,897.70, points to a flat start, investors are expected to remain reluctant to build aggressive positions as geopolitical risks continue to cloud the near-term outlook. The Gift Nifty live chart is oscillating around 23,950, just above Friday's spot Nifty 50 close of 23,897. However, the index is trading below its Friday's close of 24,010. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market may have a flat-to-negative start on Monday as the Gift Nifty live chart is trading below its previous close, but slightly above Friday's spot Nifty close. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the 50-stock index once again witnessed a narrow-range movement, finding resistance near the 24,000 level and closing with some profit booking near the 23,900 zone, with bias and sentiment maintained in a very cautious approach. “Nifty's important and crucial support of 23,800 level is under threat, and the index hovering just below the 100-period MA of 24,000 level would need a significant positive move to move past the 50-EMA level at 24,200 zone to improve the bias and thereafter, establish conviction to continue with the upward move,” said Parekh. On the outlook of the Bank Nifty today, the Prabhudas Lilladher expert said, the key benchmark index, once again with a lull session, continues to remain stagnant near the important 200-period MA at the 57,500 zone with the major and crucial support positioned near the 100-period MA at the 56,500 level, which needs to be sustained to maintain the trend intact. “On the upside, the 58,000 zone continues to be the tough resistance hurdle which desperately needs to be conquered to trigger a breakout and thereafter, expect a fresh further upward move,” said Parekh. Regarding the buy or sell indicator for Monday, Vaishal Parekh recommended three stocks to buy today: TD Power Systems, Vikran Engineering, and Greenply Industries. 1] TD Power Systems: Buy at ₹730 | Target ₹760 | Stop Loss ₹720; 2] Vikran Engineering: Buy at ₹59 | Target ₹63 | Stop Loss ₹57; and 3] Greenply Industries: Buy at ₹303 | Target ₹320 | Stop Loss ₹294. Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions. Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91). Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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