Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 29
Buy or sell stocks for today: After rising for five straight sessions, the Indian stock market came under profit-booking stress and ended lower on Friday last week. The Nifty 50 index lost 150 points and closed at the 22,419 level, the BSE Sensex shed 609 points and finished at the 73,730 mark whereas the Bank Nifty index corrected 293 points and ended at the 48,201 level.
However, the broad market continued to rally northward even as the advance-decline ratio remained firm at 1.06:1. The small-cap index gained 0.27 percent whereas the mid-cap index shot up 0.83 percent.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Indian stock market bias has turned cautious as the Nifty 50 index succumbed to the short-term resistance placed at 22,600 level. The Prabhudas Lilladher expert went on to add that the 50-stock index now has an important support zone near the significant 50EMA level of 22,150.
Parekh said that Nifty breaching below this support may turn the Indian stock market bias weak. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — CUB, Pidilite Industries, and Godrej Properties.
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