Buying or selling stocks: The Indian stock market had a strong comeback, completing Monday's trading session higher, despite a gapdown beginning. The BSE Sensex finished 111 points higher at 72,776 while the Nifty 50 index finished 48 points higher at 22,104. The Bank Nifty index reached 47,754 after rising 333 points. Notably, the NSE's cash market volumes increased to ₹0.98 lakh crore. The advance-decline ratio dropped to 0.70:1 and the small-cap index finished marginally down, but overall market rebound remains encouraging for possible trades.
Invest in Vaishali Parekh's stocks right now
Experienced Vice President of Technical Research at Prabhudas Lilladher Vaishali Parekh has a good sense of market trends. According to her, the Nifty 50 index held onto its previous bottom at 21,800. According to the Prabhudas Lilladher expert, the closing of the 50-stock index over the 22,000 threshold has boosted the mood of the Indian stock market. According to Vaishali, the index can soon reach 22,250 and continue its upward path. Using her extensive knowledge, Vaishali Parekh suggested buying or selling three stocks today: AB Capital, Coforge, and NALCO.
Current stock market
Vaishali Parekh observed, "The Nifty 50 index has sustained near the previous bottom zone of the 21,800 levels, a key support level in technical analysis," after examining the Nifty's technical indicators today. It has also seen a robust comeback, closing at 22,100 levels and breaking over the 22,000 zone. This suggests that mood has improved and that there may be more bullish action in the upcoming session, maybe reaching the important 50EMA zone at 22,250 levels."
"The Bank Nifty index also took support near the rising trendline zone near 47,000 levels and indicating a strong recovery has moved past the significant 50EMA level of 47,700 zones to improve the bias and can anticipate a further rise in the coming sessions," Parekh stated.
According to Parekh, the Nifty's immediate support is at 22,000, while the resistance is at 22,250. The daily range for the Bank Nifty will be between 47,400 and 48,200 levels.
Purchase or sell stocks
1] NALCO: Purchase at ₹177, aim for ₹184, and halt loss at ₹173;
2] Coforge: Purchase at 4535, aim for 4700, and halt loss at 4440; and
3. AB Capital: Purchase at ₹222.35, aim for ₹232, and halt loss at ₹217.
