Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 10
Buy or sell stocks for today: Following weak global sentiments, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index, which represents the performance of the top 50 companies listed on the National Stock Exchange (NSE), crashed 345 points and closed below the 22,000 mark at 21,957. The BSE Sensex, the benchmark index of the Bombay Stock Exchange (BSE), tanked 1062 points and finished at 72,404, while the Bank Nifty index, which tracks the performance of the banking sector, nosedived 533 points and ended at a 47,487 level.
Cash market volumes on the NSE, which indicate the liquidity in the market, rose to Rs.1.02 lakh crore. However, the broad market indices, which provide a more comprehensive view of the market, fell more than the Nifty 50 index even as the advance-decline ratio, which measures the number of advancing stocks to declining stocks, fell sharply to 0.17:1 (lowest since March 13, 2024). Also Read: Breakout stocks today: Hero MotoCorp, V Guard to KECL — Sumeet Bagadia recommends five stocks to buy Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the Indian stock market sentiments received a significant dent when the Nifty 50 index breached 22,000 support.
This was in line with the global market trends, which were also weak. The Prabhudas Lilladher expert said that the 50-stock index has next crucial support at 21,750. Vaishali went on to add that Nifty would require a close above 22,250 to improve the Indian stock market bias.
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