Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 6

livemint.com:

Buy or sell stocks for today: The Indian stock market erased some of the previous day losses and ended higher after the NDA allies pledged support for the alliance to form a government for the third term. The Nifty 50 index gained 735 points and closed at 22,620, whereas the BSE Sensex shot up 1303 points and finished at 74,382.

The bank Nifty index ended 2126 points higher at 49.054. In the broad market, the mid-cap index outshined the frontline Indian indices even as the advance-decline ratio rose sharply to 3.49:1.Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Nifty 50 index has moved above the 50-EMA zone of 22,400.

The Prabhudas Lilladher expert added that a decisive breach above 22,900 by the 50-stock index may further improve the Indian stock market bias and sentiment. She said the Bank Nifty index needs to sustain above the significant 50-EMA level of the 48,150 zone to maintain the bias intact.On stocks to buy today, Vaishali Parekh recommended buying three buy-or-sell stocks: HDFC Life, ITC, and Coal India.Also Read: Trade setup for stock market today: Five stocks to buy or sell on ThursdayOn the outlook for Nifty today, Vaishali Parekh said, "Nifty, after witnessing the heavy erosion a day before, bulls regained some lost strength to gain 735 points to end near the 22,600 zone once again moving above the significant 50-EMA level of 22,400 zone.