Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 29
Buy or sell stocks for today: Following weak global cues, the Indian stock market ended lower for the third straight session. The Nifty 50 index went down 44 points and closed at 22,888, whereas the BSE Sensex shed 220 points and closed at 75,170.
The Bank Nifty index lost 139 points and finished at 49,142. Cash market volumes on the NSE fell nearly 16 percent compared to the previous day.
The broad market indices fell more than the Nifty, even as the advance-decline ratio fell sharply to 0.4:1.Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that the overall Indian stock market sentiment is cautiously optimistic despite the Nifty 50 index swinging between the 22,850 to 23,000 closing range. The Prabhudas Lilladher expert said the 50-stock index has crucial support at the 22,780 to 22,800 mark.
Vaishali noted that market bias would tune positively once the Nifty 50 index breaches its hurdle placed at 23,100 on a closing basis.On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks — Sun TV, Hindustan Unilever Ltd or HUL, and HDFC Life.On the outlook for Nifty today, Vaishali Parekh said, "The Nifty 50 index witnessed a volatile session swinging between 22,850 and 23,000 levels, with the overall bias maintained cautiously positive. We need to watch and wait for further developments to settle down.
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