Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 18
Buy or sell stocks: On account of weak global cues, after the hotter-than-expected US PPI print, the Indian stock market ended lower on Friday. The Nifty 50 index lost 123 points but managed to close above 22,000 levels.
The BSE Sensex finished 453 points lower at the 72,643 mark while the Bank Nifty index ended 195 points south at the 46,594 level. However, a strong buying interest was witnessed in the small-cap and mid-cap stocks as the broad market registered a sharp rebound ahead of the market close on the weekend session.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Indian stock market bias has turned cautious. The Prabhudas Lilladher expert went on to add that the Nifty 50 index has a crucial support placed at 21,900 to 21,850 levels.
Vaishali Parekh further added that the 50-stock index is in the 21,850 to 22,300 zone and a bullish or bearish trend can be assumed on the breakage of either side of the range. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — Jindal Saw, GNFC, and Godrej Properties.
Also Read: Stock market today: Biocon, RBL Bank, SAIL among 11 stocks under F&O ban list on Monday — 18th March On the outlook for the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index during the week witnessed a slide from the 22,500 zone to hold support near the 21,900 levels with the bias turning little bit cautious. The trend shall remain intact as long as the significant 50EMA zone of 21,850 levels is sustained as of now and a decisive move past the 22,300 zone shall improve the bias to some extent." "The Bank Nifty index witnessed erosion during the week moving just below the important 50EMA level of 46,600 to slightly
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