Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 1
Buy or sell stocks for today: Aided by monthly F&O expiry and MSCI rebalancing volumes, the Indian stock market witnessed sharp upside movement in the last 30 minutes of the Thursday session. The Nifty 50 index ended 31 points higher at 21,982 level, the BSE Sensex went up 195 points and closed at 72,500 mark, whereas the Bank Nifty index scaled 157 points north and ended at 46,120 level.
Cash market volumes on the NSE rose to 1.45 lakh crore due to MSCI rebalancing volumes. Broad market indices rose more than the Nifty 50 index even as the advance-decline ratio rose to 1.01:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the Nifty 50 index has taken support at 21,850 zones. The Prabhudas Lilladher expert went on to add that the overall Indian stock market trend may remain cautious until the 50-stock index breaches above the psychological 22,000 level decisively.
On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today, and those shares are Sun Pharma Advanced Research (SPARC), Lloyds Engineering, and Castrol India. Also Read: India's Q3 GDP growth at 8.4%, beats D-Street estimates; economy grows at fastest pace in 6 quarters: 5 key highlights On the outlook for the Nifty 50 index, Vaishali Parekh said, "Nifty 50 index after the slide witnessed in the previous session, took support near the 21,850 zones and recovered in the final hours to breach above the 22,000 zone, but the overall bias remains cautious with a conviction yet to be established for the index to convincingly move past the 22,000 levels.
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