Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 7
Buy or sell stocks for today: Following strong global market sentiments, Indian stock market sentiments ended higher for third straight session. Nifty 50 index advanced 181 points and closed at 19,411 levels, BSE Sensex shot up 594 points and ended at 64,958 mark whereas Bank Nifty index finished 301 points up at 43,619 levels.
Broad market indices rose in line with key benchmark indices of Dalal Street even as the advance decline ratio rose to 2.54:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that market sentiments have improved after Nifty 50 index decisively breached the barrier placed at 19,250 levels.
Prabhudas Lilladher expert went on to add that more upside can be expected once the 50-stock index manages to breach resistance placed at 19,550 levels. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today — Cochin Shipyard, Steel Authority of India Ltd or SAIL and Devyani International.
On outlook for Nifty today, Vaishali Parekh said, "Nifty has witnessed a decent pullback in the last 3 sessions to breach above the important and crucial barrier zone of 19,250 levels to improve the bias to some extent anticipating for further rise till 19,500 to 19,550 levels. The levels near 19,200 would act as the support from current levels which needs to be sustained." Stocks to Watch: Honasa Consumer, Wipro, HPCL, Bajaj Finance, Adani Energy "Bank Nifty also moving past the significant 200 period MA has improved the bias and further ahead would need to breach above the important zone of 200 period MA of 44000 level to establish conviction for further steady upward movement.
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