Chandan Taparia recommendations: How to trade NMDC, IRFC, GAIL India shares today

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Also Read: Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 21 According to him, option data suggests a broader trading range in between 22,000 to 23,000 zones while an immediate range between 22,300 to 22,600 levels. Meanwhile, Bank Nifty managed to hold support near 47,000 zones and reclaimed its 50 DEMA. Now it has to continue to hold above 47,777 zones for a bounce towards 48,250 then 48,500 zones, he added.

Support for Bank Nifty is seen at 47,777 and 47,500 levels. Chandan Taparia has suggested three stocks to buy on Tuesday which he believes are technically placed to likely see an uptrend going ahead. These three stocks to buy today include NMDC, Indian Railway Finance Corporation, and GAIL India.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 21 Here are the three stocks to buy today, May 21. NMDC share price is on overall uptrend; retested breakout on daily chart and inched higher. Buying is visible across metals space which may support the ongoing up move.

NMDC shares have given the highest weekly close ever and all set to test new life high territory. Taparia has a ‘Buy’ call with NMDC share price target of ₹295 apiece. IRFC shares have given a range breakout on the daily chart and managed to close above the same.

Buying is visible across railway PSU stocks which may support the ongoing up move. It has formed a strong bullish candle on a daily scale and supports are gradually shifting higher. Momentum indicator Relative Strength Index (RSI) is positively placed which may take prices higher.