Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 29
Buy or sell stocks for today: After trading choppy during morning deals, Indian stock market witnessed sharp upside in later half and ended higher on Tuesday. Nifty 50 index gained 95 points and ended at 19,889 levels, BSE Sensex surged 204 points and closed at 66,174 mark whereas Bank Nifty index finished 111 points higher at 43,880 levels. Broad market indices rose less than the Nifty even as the advance decline ratio remained firm at 1.12:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Indian stock market mood has turned bullish after Nifty 50 index gave breakout at 19,850 levels. Prabhudas Lilladher expert said that Nifty 50 index is now set to touch 20,000 and 20,200 levels. On stocks to buy today, Vaishali Parekh recommended three stocks to buy today — L&T Finance, Hindustan Copper and Concor.
On outlook for Nifty 50 today, Vaishali Parekh said, "Nifty finally indicated a breakout above the tough resistance barrier of 19,850 zone to improve the bias and further is anticipated to retest the previous peak zone of 20,200 levels in the coming days. The index has the next visible targets of 20,000 level and thereafter 20,222 level with 19,800 to 19,850 zone maintained as the important support zone from current levels." "Bank Nifty also witnessed gradual pullback to attain the important 50EMA level of 43,900 zone and would need a decisive breach above the significant 200 period MA of 44,400 zone to confirm the positive trend and anticipate for further rise with conviction," said Parekh. Parekh went on to add that immediate support for Nifty today is placed at 19,800 while the resistance is seen at 20,000.
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