Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 26
Buy or sell stocks for today: Despite weak global market sentiments on disappointing forecasts from Facebook and Instagram parent Meta, the Indian stock market ended higher for the fifth straight session on Thursday. The Nifty 50 index gained 167 points and closed at a 22,570 level, the BSE Sensex surged 486 points and ended at the 74,399 mark while the Bank Nifty index finished 305 points higher at the 48,494 level. Cash market volumes on the NSE were higher on the monthly F&O expiry day at Rs.
1.39 lakh crore, although lower than the February expiry day volumes of Rs. 1.45 lakh crore. The Small-cap index outperformed the Nifty 50 index, even as the advance-decline ratio stayed firm at 1.19:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Indian stock market sentiments are positive as the Nifty 50 index has formed a “Bullish Engulfing" candle on the chart. The Prabhudas Lilladher expert went on to add that the Nifty 50 index is expected to retest the previous peak zone of 22,775 levels with major support maintained near 22,150 levels. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stock ideas for today — JSW Steel, NMDC, and HUDCO.
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