Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 12
Buy or sell stocks for today: Following a choppy trend in the global markets, the Indian stock market erased all its gains in the closing bell on Tuesday. The Nifty 50 index ended marginally higher at 23,264, while the BSE Sensex finished 33 points lower at 76,456.
The Bank Nifty index ended 75 points southward at 49,705. Cash market volumes on the NSE were lower at ₹1.25 lakh crore.
The broad market indices ended positively, even as the advance-decline ratio fell marginally to 1.72:1.Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the Nifty 50 index is facing a hurdle at 23,400. The 50-stock index needs a decisive breach above this resistance zone to trigger a fresh bull trend on Dalal Street.
The Prabhudas Lilladher expert said that the 50-stock index may touch 23,800 in the near term after breaching the 23,400 hurdle on a closing basis.For intraday trading on Wednesday, Vaishali Parekh from Prabhudas Lilladher has recommended three stocks that could potentially yield profitable returns: Can Fin Homes, Indian Oil Corporation or IOC, and M&M Finance.Discussing the outlook for the Nifty 50 index, Vaishali Parekh emphasized, "The Nifty 50 index has been facing resistance near the 23,400 zone, which is proving to be a significant barrier. A decisive breach above this zone could potentially trigger a fresh upward move in the coming days.
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