After ‘Black Monday’ Fears, Vaishali Parekh Points to 3 Resilient Stocks
Buy or sell: Vaishali Parekh recommends three stocks that you should buy right now -three stocks to buy today - Zen Technologies, Pidilite Industries and Asian Paints
After ‘Black Monday’ Fears, Vaishali Parekh Points to 3 Resilient Stocks
In the wake of Donald Trump's tariffs shock and The Indian markets plunged to the bottom on Friday, creating fears of a ' "Black Monday" 1987'. In 1987, the Nifty 50 index fell 345 points, and ended at 22,904. The BSE Sensex dropped 930 points, and ended at 75,364, while the Bank Nifty index went off to 94 points, and closed at 51,502. The BSE Small-cap index plummeted 3.43 percent, and the Mid-cap index sank at around 3.08% in the course of Friday's auctions.
Stocks to buy today
Vaishali Parekh is Vice President, Technical research at Prabhudas Lilladher, believes that the Indian sentiment in the stock market has weakened since market sentiment has turned weak as the Bank Nifty today index has fallen below the 50-DEMA level of 23,120. The Prabhudas Lilladher analyst said that the frontline index is significantly below the psychological support at 23,000.
Vaishali Parekh stock recommendations today
In terms of share market today to purchase in the present, Vaishali Parekh recommended three buy or sell stocks: Zen Technologies, Pidilite Industries, and Asian Paints.
• 1 Zen Technologies: Buy at Rs1445, with a target of Rs1520 Stop loss of Rs1400
• 2 Pidilite Industries: Buy at Rs2903, with a target of Rs3000 Stop loss Rs2850; and
• 3 Asian Paints: Buy at Rs2352, with a target of Rs2430 Stop loss 2300 Rs.
Black Monday 1987
On Black Monday on October 19, 1987, global markets were smashed and The US Dow Jones Industrial Average falling 22.6 percent..
Fast forward nearly one century. On April 6 2025 Jim Cramer, an American television journalist and market analyst warned of a'bloodbath' similar to one on the Monday of April 7, in the wake of US president Donald Trump's tariff-related rants. Cramer advised the POTUS to "reach out" to other countries that haven't put up sanctions against the US.
October 19 1987, also referred to by the name 'Black Monday' witnessed an increase in the Dow Jones Industrial Average (DJIA) drop by 22.6 percent in just one day.
