Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 26
Buy or sell stocks for today: After an extended weekend due to the stock market holiday on Monday, the Indian secondary market is expected the follow the global market sentiments, especially after the profit-booking trigger in the US stock market. The US stock market took a breather as most of the major indices ended loser on Monday. The Dow Jones index ended 0.41 percent lower while the S&P 500 index lost 0.31 percent.
Tech-heavy Nasdaq went off 0.27 percent. Coming back to the Indian stock market, in the previous session on Friday last week, the Nifty 50 index went up 84 points and ended at the 22,096 level, the BSE Sensex added 190 points and finished at the 72,831 mark whereas the Bank Nifty index gained 178 points and closed at the 46,863 level. In the board market, the small-cap index outperformed the 50-stock index even as the advance-decline ratio remained positive at 2.7:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index has taken strong support at 50-EMA zones at 21,870 level. The Prabhudas Lilladher expert said that the 50-stock index needs to sustain above 22,000 levels to maintain the uptrend further. However, Vaishali said that the Indian stock market trend may further improve if the Nifty 50 index breaches above the 22,200 level on a closing basis.
On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — Canara Bank, Bharat Forge, and BEL. On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index once again witnessed taking support near the significant 50EMA zone of 21,870 levels and recovered strongly to erase the losses almost to touch the 22,200 zone during the intraday session. The index
. Read more on livemint.com
