Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 12
Buy or sell stocks for today: After witnessing a sharp sell-off on Thursday, the Indian stock market shifted into a sustainable upside bounce from the lows and closed higher on Friday. The Nifty 50 index gained 64 points and closed at the 21,782 level, the BSE Sensex went up 167 points and closed at the 71,595 mark while the Nifty Bank index shot up 622 points and finished at the 45,634 level.
However, broad market indices continue to remain weak. The small-cap index lost 1.36 percent while the mid-cap index dipped to the tune of 0.82 percent.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the stock market sentiment has improved after the strong bouncing back on Friday. The Prabhudas Lilladher expert went on to add that the Nifty 50 is now facing a hurdle at the 21,800 level after making an immediate base at 21,600 to 21,650 zones.
Parekh said that Dalal Street trends may further improve once the 50-stock index gives a decisive breach above the 21,800 mark on a closing basis. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Aarti Industries, Ambuja Cements, and Syngene International.
On the outlook for the Nifty 50 index, Vaishali Parekh said, "Nifty witnessed volatility in the morning session and with support taken near 21,630 zone, recovered significantly to close near the 21,800 zone with sentiment in a much better position. The index has been maintaining the support zone of 21,700 levels as of now and would need a decisive breach above the 21,800 zone to improve the bias overall." "Bank Nifty opened on a weak note near the 44,900 zone of the significant 200 period MA level but witnessed a decent recovery as the day progressed to end near
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