Buy or sell after exit poll: Vaishali Parekh recommends three stocks to buy today — June 3
Buy or sell stocks for today: After the end of Lok Sabha Election 2024 on Saturday last week, and the majority of the Exit Polls predicting the third term for the Narendra Modi government in New Delhi, the Indian stock market is expected to extend to remain volatile on the penultimate day of the Lok Sabha Election results date. On Friday last week, frontline indices of the Indian stock market ended marginally higher after erasing most of its early morning losses.
The Nifty 50 index finished 42 points higher at the 22,530 mark, while the BSE Sensex ended 75 points northward at 73,961. The Bank Nifty index gained 301 points and closed at 48,983.
Cash market volumes on the NSE touched a record high of ₹2.29 lakh crore – aided by trades for MSCI and FTSE rebalancing. The small-cap index rose 0.76 percent even as the advance-decline ratio improved to 0.81:1.Vaishali Parekh, a respected figure in the financial industry and Vice President — Technical Research at Prabhudas Lilladher, shares her insights on the current state of the Nifty 50 index.
She believes that the index has topped out at the 23,100 level and is precariously placed before the Lok Sabha Election results date, which is scheduled on 4th June 2024. According to Parekh, a decisive breach by the Nifty 50 index above the 22,800 level would improve the Indian stock market bias.
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