CSB Bank, Nykaa & Emami: Vaishali Parekh shares her views on these 3 stocks

Vaishali Parekh, Vice-President - Technical Research at Prabhudas Lilladher on Friday said mid-caps would comparatively a safer bet amid the current market scenario. The market expert picked CSB Bank Ltd as one of her top picks for the day. "CSB Bank has shown good volume and it is holding on very. With a stop of Rs 320, one can buy this stock for a target of Rs 360-370," Parekh told BT TV today.

The other stock which she liked was FSN E-Commerce Ventures Ltd (Nykaa). "Risk-reward ratio looks favourable for Nykaa. While keeping a stop loss at Rs 145, the stock is likely ready for a target price of Rs 165-170."

When asked about FMCG (fast-moving consumer goods stocks), she preferred Emami Ltd. "The stock is currently taking support at Rs 500 level. If this support level is held on, we can see a bounce back coming in till the level of Rs 540-545," Parekh stated.

Emami has forayed foray into juice category with 'AloFrut' through a strategic investment in Axiom Ayurveda and its subsidiaries/associates by acquiring 26% equity stake for an undisclosed amount.

Sharing views on select cement stocks, the market expert said ACC Ltd is technically well-placed on the charts. In contrast, Ambuja Cements Ltd and UltraTech Cement Ltd are under pressure, Parekh suggested.

Meanwhile, Indian equity benchmarks traded higher in early deals amid positive global cues. Broader market (mid- and small-cap) shares were also positive.

14 out of the 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty Pharma, Nifty PSU Bank and Nifty Healthcare were outperforming the NSE platform by rising as much as 1.35 per cent, 1.09 per cent and 1.17 per cent, respectively. However, Nifty IT was down 0.71 per cent.

On the stock-specific front, NTPC Ltd was the top gainer in the Nifty pack as the stock surged 2.91 per cent to trade at Rs 243.95. UPL, Hindalco, Dr Reddy's and Tata Motors rose up to 2.08 per cent.

In contrast, LTIMindtree, Infosys, Adani Enterprises, Wipro and Tata Consultancy Services (TCS) were among the top laggards.

The overall market breadth was positive as 1,970 shares were advancing while 799 were declining on BSE.

During the previous session, foreign institutional investors (FIIs) sold shares worth Rs 3,364.22 crore of shares, while domestic institutional investors (DIIs) bought Rs 2,711.48 crore shares during the previous session, provisional exchange data showed.

(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)

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