Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 20
Buy or sell stocks for today: On account of the participatory rally in majority segments, the Indian stock market ended higher for the fifth straight session. The Nifty 50 index hit a new high of 22,186 before ending at 22,122 level.
The BSE Sensex shot up 281 points and closed at the 72,708 mark while the Bank Nifty index added 150 points and ended at 46,535 level. The small-cap index outperformed the Nifty 50 index even as the advance-decline ratio remained high at 1.55:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the outlook for the Indian stock market is highly bullish. The Prabhudas Lilladher expert went on to add that the Nifty 50 index is now heading for the immediate target of 22,400 and 22,800 levels.
However, Parekh said that Nifty today has crucial support placed at 21,800 level and any dip in the index should be seen as a buying opportunity. Also Read: Zee, Ashok Leyland, Bandhan Bank among 11 stocks under F&O ban list today On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Sun Pharma, Cochin Shipyard, and Grasim Industries.
On the outlook for the Nifty 50 index, Vaishali Parekh said, "Nifty created history once again hitting the All-Time High level of 22,186 figure during the intraday session gaining for the 4th consecutive session strengthening the trend and is anticipated for further gains. With the strong support maintained near the 21,800 zone, the index is expected for higher targets of 22,400 and 22,800 levels in the coming days." Also Read: SAIL, CIL, Apollo Hospitals, MSTC among 14 stocks to trade ex-dividend today "Bank Nifty once again witnessed resistance near the 46,700 zone and overall remained subdued for the
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