Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 23

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Also Read: Wall Street today: US stocks drift ahead of Fed minutes, Nvidia drops as investors await earningsOn Wednesday, the fear gauge India VIX fell 1.6% to 21.5, indicating minimal volatility in the Indian stock market. With the domestic market's medium-to-long-term outlook remaining solid, investors' attention has shifted from election-related concern to stock fundamentals.According to a CNBC news report, members of the Federal Reserve expressed a lack of confidence in their ability to proceed with interest rate cuts down as they were increasingly concerned about inflation during their most recent meeting.The Federal Open Market Committee's April 30-May 1 policy meeting minutes, which were made public on Wednesday, revealed that policymakers were unsure of when it would be appropriate to ease.Also Read: Top Events on May 23: PM Modi in Punjab, Odisha on cyclone alert, heatwave in Delhi, and moreAccording to Parekh, the Nifty 50 has witnessed a steady rise in the last 3–4 sessions, reaching the 22,600 zone with bias maintained positive and with active participation witnessed from the broader markets as well in recent times.

The index can carry on with the positive move for the next target of 22,900 level in the coming days, with 22,300 level as the important support zone. Bank Nifty witnessed some profit booking to slip towards the support zone of 47,400 levels but recovered to end near the 47,800 zone to restore the lost sentiment.

The index needs to decisively move past the 48,300 zone to establish conviction for a further rise till 49,600 and 49,900 levels. The support for the day is seen at 22,450 levels, while the resistance is seen at 22,700 levels.