Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 12
Buy or sell stocks for today: Indian stock market continued its ritual of touching new highs with BSE Sensex and Nifty 50 indices crossing 70,000 and 21,000 mark respectively. Nifty 50 index remained range-bound throughout Monday session but ended with marginal gains at 20,997 levels, BSE Sensex gained 102 points and finished at 69,928 mark while Bank Nifty index added 52 points and closed at 47,314 levels.
Broad market indices rose more than the Nifty 50 index even as the advance decline ratio rose to 1.46:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that overall trend on Dalal Street is positive and immediate support for Nifty 50 today is placed 20,850 levels.
Prabhudas Lilladher expert went on to add that 50-stock index needs to breach 21,100 hurdle decisively to maintain uptrend and surge to the tune of 20,900 levels. Also Read: Infosys' ADRs fall over 3% after Q2 results as CFO Nilanjan Roy quits On stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three intraday stocks for today — Marico, Godrej Consumer Products and Cummins India.
On outlook for Nifty today, Vaishali Parekh said, "Nifty witnessed another session of consolidation near the 21,000 zone overall taking a breather with bias and sentiment maintained positive with near-term support as of now positioned near 20,850 zone. Again we maintain our view, as mentioned earlier, a decisive breach above 21,000 levels is required to maintain the uptrend and expect for next higher targets of 21,800 to 21,900 levels in the coming days with major support lying near 20,550 zone of the rising trendline level." "Bank Nifty during the intraday session scaled record high of 47,588 levels with frontline banking
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