Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 28
Buy or sell stocks for today: Despite strong global cues, the Indian stock market remains range-bound and ended flat on Monday. The Nifty 50 index finished 24 points lower at 22,932 after touching a new peak of 23,110 mark.
The BSE Sensex ended 19 points lower at the 75,390 mark after touching a new lifetime high of 76,009. However, the Bank Nifty index gained 310 points and closed at 49,281.
Cash market volumes on the NSE were flat compared to the previous day. The mid-cap index closed 0.63 percent higher even as the advance-decline ratio remained negative at 0.62:1.Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the overall Indian stock market mood will remain positive till the Nifty 50 index trades above the 22,800 mark.
The Prabhudas Lilladher expert said Dalal Street's mood may improve further once the 50-stock index breaches the 23,200 hurdle decisively. Parekh added that the Bank Nifty index crossing above the 49,200 zones has improved the bias and can expect further rise for the following targets of 49,600 and 50,700 levels in the coming days.Also Read: Lok Sabha Elections 2024 trading strategy: How to trade on results date?Regarding stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — Indian Hotels Company or IHC, Hindustan Petroleum Corporation Limited or HPCL, and Birlasoft.On the outlook for the Nifty 50 index today, Vaishali Parekh said, "The Nifty 50 index has once again made an all-time new high, breaching above the 23,100 zone during the intraday session but failed to give a close above the 23,000 levels with profit booking in the final hours eroded the gains to some extent.
Read more on livemint.com
