Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 5
Buy or sell stocks: On account of disappointing Lok Sabha Election results, the Indian stock market witnessed a bloodbath on Tuesday. The Nifty 50 index tumbled to log its worst session in over four years. The 50-stock index crashed 1379 points and finished at 21,884.
The BSE Sensex nosedived 4,389 points and ended at 72,079. The Bank Nifty index lost 4,051 points and closed at 46,928. Cash market volumes on the NSE rose to a record high of ₹2.71 lakh crore.
The broad market indices fell more than the frontline Indian indices even as the advance-decline ratio touched a low of 0.10:1 – the lowest since March 13, 2024.Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the stock market crash on Tuesday has weakened the bias and sentiment significantly. The Prabhudas Lilladher expert said that the Nifty 50 index has crucial support placed at 21,100 while the 50-stock index has immediate support at 21,600. On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended buying three buy-or-sell stocks — Max Healthcare, Apollo Hospitals, and COLPAL.On the outlook for Nifty today, Vaishali Parekh said, "The Nifty 50 index tanked heavily to form a big bearish candle on the daily chart, crashing 8.5 percent, the highest intraday fall in the last four years, since March 23, 2020, and has weakened the bias and sentiment significantly.
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