Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 22
Buy or sell stocks for today: On account of weak global market sentiments on rising fear of the Iran-Israel war, the Indian stock market ended its four-week winning streak and finished lower on Friday last week. However, Dalal Street ended higher on Friday after losing on all sessions in the week gone by.
The Nifty 50 index finished 151 points higher at the 22,147 level, the BSE Sensex gained 599 points and closed at the 73.088 mark whereas the Bank Nifty index scaled 504 points north and ended at the 47,574 level. In the broad market, the small-cap index finished with a weekly loss of 1.73 percent whereas the mid-cap index corrected over 3 percent in the truncated week that ended last Friday.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Indian stock market bias has improved after the pullback rally on Friday. The Prabhudas Lilldher expert went on to add that the Nifty 50 index has ended above the 50-DEMA of 22,110 after it formed a double bottom at around 21,800 level.
On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks for today — Hindustan Unilever Ltd or HUL, Grasim Industries, and Tata Steel. On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index opened with a bearish outlook near the 21,800 zone almost with a double bottom formation recovered strongly to move past the significant 50-DEMA level of 22,110 zone to improve the bias and sentiment to some extent.
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