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Buy or Sell: Vaishali Parekh recommends three stocks to buy today – April 22

Vaseline 2 months ago

Buy or sell shares for today: Reflecting weak global market sentiment and rising fears over the Iran-Israel war, the Indian stock market ended its four-week winning streak and ended lower last Friday. However, Dalal Street ended higher on Friday after losing on all sessions last week. The Nifty 50 index ended 151 points higher at the 22,147 level, the BSE Sensex gained 599 points to close at 73,088, while the Bank Nifty index scaled 504 points north to end at the 47,574 level. In the broad market, the small-cap index ended with a weekly loss of 1.73 percent, while the mid-cap index corrected more than 3 percent in the shortened week that ended last Friday.

Vaishali Parekh’s stock recommendations

Vaishali Parekh, Vice President – ​​Technical Research at Prabhudas Lilladher believes that bias in the Indian stock market has improved after Friday’s pullback rally. The Prabhudas Lilldher expert added that the Nifty 50 index ended above the 50-DEMA of 22,110 after it formed a double bottom around the around 21,800 level. As for the stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy or sell stocks for today: Hindustan Unilever Ltd or HUL, Grasim Industries and Tata Steel.

Fair today

Speaking about the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index opened with a bearish outlook near the 21,800 zone, almost with a double bottom formation that recovered strongly to move past the significant 50-DEMA level of the 22,110 zone to improve the prospects.” With volatility still expected, the index needs to move decisively past the 22,350 zones to gain conviction and anticipate further gains in the coming days.”

“The Bank Nifty index produced a strong bullish candle recovering from 46,600 levels to end on a positive note near the 47,600 zones moving above the important 50-DEMA level of 47,180 zones and with slightly improved sentiment a further increase can be expected,” Parech said.

Vaishali Parekh of Prabhudas Lilladher added that Nifty has immediate support at 22,000 levels today while resistance is at 22,300 levels. Bank Nifty is said to have a daily range of 47,100 to 48,000 levels.

Vaishali Parekh shares should be bought today

1) HELP: Buy from 2231, target 2310, stop loss 2185;

2) Grasim Industries: Buy from 2273, target 2350, stop loss 2225; And

3) Tata Steel: Buy from 162, target 170, stop loss 158.

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to contact certified experts before making investment decisions.

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