Buy or sell: Eicher Motors to LIC Housing Finance — Vaishali Parekh recommends three stocks to buy today — 1st April
Buy or sell stocks: On the last trade session in FY24, the Indian stock market witnessed a decisive intraday upside breakout. The Nifty 50 index went up 203 points and ended at the 22,326 level, the BSE Sensex shot up 655 points and finished at the 73,651 mark whereas the Bank Nifty index surged 338 points and closed at the 47,124 level.
In the broad market, the small-cap index gained 0.33 percent while the mid-cap index scaled 0.62 percent north on the last trade session of FY24. Vaishali Parekh, Vice President — Technical Research a Prabhudas Lilladher believes that the Nifty 50 index gained strength and one can anticipate retesting the peak zone of 22,526 levels.
The Prabhudas Lilladher expert went on to add that the 50-stock index is set to test next higher targets of 22,700 and 23,200. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks — Deepak Fertilisers, Eicher Motors, and LIC Housing Finance.
On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 witnessed a strong run up on the final day of the financial year 2023-2024 to end on a strong note near 22,350 zones with an intraday high of 22,516 levels on the back of heavy buying witnessed among the frontline stocks. The index has once again gained strength and one can anticipate retesting the peak zone of 22,526 levels in the coming days with next higher targets of 22,700 and 23,200 levels expected." "The Bank Nifty index also gained momentum during the intraday session to touch the high of 47,440 levels with improvement in the bias and ended the day near 47,100 levels.
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