Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 21
Buy or sell stocks for today: Domestic market benchmark Nifty 50 crossed the coveted 22,000 mark for the first time, hitting its fresh record high of 22,215.60, in intraday trade in the previous session, with shares of HDFC Bank, Axis Bank and Power Grid among the top contributors. The domestic market witnessed significant volatility on Tuesday, with the Nifty 50 index swinging 170 points during the session. The Nifty 50 finally closed 75 points, or 0.34 per cent, higher at 22,196.95.
This was the sixth consecutive session of gains for the benchmark index. In these six sessions of gains, Nifty 50 has jumped nearly three per cent. Sensex closed 0.48 per cent higher at 73,057.40.
Gains in select banking heavyweights, including HDFC Bank, Axis Bank, Kotak Mahindra Bank and ICICI Bank, helped market benchmarks end in positive territory on February 20. Also Read: PNC Infra, HG Infra Construction, Ahluwalia Contracts top infra picks by Axis Securities post Q3 The frontline indices shrugged off a drop of 0.2 per cent in the first hour of trade to extend their winning streak to a sixth straight session, their longest winning run in 10 weeks. Financials, the heaviest-weighted among the 13 major sectoral indexes, added 1.23 per cent.
The broader, more domestically focussed small- and mid-caps shed 0.53 per cent and 0.13 per cent, underperforming the benchmarks. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the near-term target for the Nifty 50 index would be 22,400 levels and with strength sustaining, it can march ahead to next target of 22,800 levels with near-term support maintained at 22,000 zone. The Prabhudas Lilladher expert added that Bank Nifty index can carry on with the
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