Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 18
Buy or sell stocks for today: Following weak global market sentiments on disappointing Chinese economic data and geopolitical tension in the Middle East, Indian stock market fell on second day in a row. Nifty 50 index registered biggest intraday fall since 13th June 2022 due to the panic selling across the baord led by banking stocks.
The 50-stock index crashed 460 points and closed at 21,571 level, BSE Sensex tanked 1,628 points and closed at 71,500 level whereas Bank Nifty index nosedived 2,060 points and finished at 46,064 mark. Broad market indices fell less than the Nifty even as the advance decline ratio fell to 0.36:1.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that o0verall Indian stock market sentiment has turned weak after heavy selling on Wednesday. Prabhudas Lilladher expert maintained that the Nifty 50 index losed below 21,630 (20 DEMA), which signals further profit booking as next crucial support for Nifty 50 index is now placed at 21,500 level.
On stocks to buy today, Vaishali Parekh suggested three intraday stocks for today — NLC India, Apar Industries and JSW Energy. On outlook for the Nifty 50 today, Vaishali Parekh said, "Nifty witnessed heavy selling pressure and tanked, losing 460 points breaking below the 21630 zone of the 20 DMA level.
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