Buy or sell: Vaishali Parekh recommends three shares to buy today — May 13
Buy or sell stocks for today: The performance of the Nifty 50 index is a key indicator of the Indian stock market's health. Despite the index ending higher on Friday's session, the market experienced its worst week in nearly two months. This was due to nervous election-related unloading, which continued at a slower pace.
The Nifty 50 index added 97 points and finished at the 22,055 mark, while the BSE Sensex surged 260 points and ended at 72,664. However, the Nifty Bank index corrected 66 points and ended at the 47,421 level. Cash market volumes on the NSE fell about 13% to Rs.0.87 lakh crpre.
The broad market indices rose more than the Nifty, even as the advance-decline ratio rose sharply to 1.84:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, a trusted name in the industry, believes that the Indian stock market bias is still cautious and the 50-stock index has crucial support placed at 21,750. She emphasizes that a decisive breach above 22,230 is necessary to improve the bias and establish conviction for further rise.
On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks — Hindustan Unilever Ltd or HUL, Grasim Industries, and JSW Steel. Her insights are invaluable for making informed investment decisions. Looking ahead, Vaishali Parekh provides a clear outlook for the Nifty 50 index.
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