Vaishali Parekh Recommends Eternal, Urban Company, and Rain Industries for Intraday Trade on 22 September

For Eternal, the suggested buy level is ₹335.90, with a target of ₹352 and a stop-loss at ₹328. Urban Company is recommended at a buy price of ₹173.40, aiming for a target of ₹182 while setting a stop-loss at ₹169. Rain Industries is advised to be bought at ₹212.18, with a target of ₹223 and a stop-loss placed at ₹208.

The recommendations come amid a mixed session in domestic markets, where the Nifty closed 0.29% higher at 23,414 and the Sensex gained 0.81% to settle at 74,894. Despite the uptick in large-cap indices, the Nifty Midcap 100 declined 0.23% and the Nifty Smallcap 100 remained flat.

Sectoral trends showed gains in pharma, realty, FMCG, consumer durables, and oil and gas, each rising between 0.53% and 1.27%. In contrast, metal and PSU bank stocks were the notable underperformers.

Parekh noted that the Nifty is gradually recovering from the 23,100 zone and has moved above 23,400, though sustained conviction would require a clear break above 23,800. On the downside, the 23,000 level remains a critical near-term support, while 24,000 acts as a key resistance for a broader positive shift.

For Bank Nifty, Parekh observed a slow recovery from the 55,700 low, with the index closing near 56,500. She highlighted that a sustained move above the 200-period moving average at 57,300 would improve bias, while a break above 58,500 is necessary to signal a fresh upward trend. The intraday range for Bank Nifty is expected between 56,000 and 57,000.

Parekh also outlined broader levels for the Nifty, citing 23,300 as intraday support and 23,600 as resistance. The disclaimer accompanying the advice reminds investors to consult certified experts before making investment decisions.