The Indian stock market finished Wednesday's trading session higher due to positive mood on the world market. The Nifty 50 and the Bank Nifty, two of the three benchmark indexes, increased to fresh highs of 22,775 and 49,057, respectively. At 22,753, the Nifty 50 index closed at its highest point ever. Slightly less than 19 points separated the BSE Sensex from its lifetime peak of 75,124, as it concluded above the critical 75,000 threshold at 75,105. Even though the advance-decline ratio increased to 1.13:1, the mid-cap index did better in the overall market than the Nifty 50 index.
The stocks that Vaishali Parekh recommends
According to Prabhudas Lilladher Vice President of Technical Research Vaishali Parekh, sentiment on the Indian stock market is generally bullish. According to Prabhudas Lilladher, an analyst, the Nifty 50 index has nearly reached its initial objective of 22,800. If this level is broken, the 50-stock index may move up to 23,200.
Vaishali Parekh suggested buying or selling three stocks today: Mukand, State Bank of India (SBI), and Sumitomo Chemical India.
Current Stock Market
"The Nifty 50 index index has slowly and gradually surged ahead making new highs with the overall bias and sentiment maintained strong with the initial target of 22,800 almost achieved," stated Vaishali Parekh when discussing the forecast for the Nifty 50 today. As previously said, if the bullish trend continues, we expect the index to reach its next goal of 23,200 levels in the upcoming days."
"The Bank Nifty created history by conquering the 49,000 zone with a gradual rise witnessed and with improved bias is expected to surge ahead with next target of 49,800 level achievable," Parekh stated.
Parekh continued, saying that the Nifty's current levels of resistance will be found around 22,900, and that the Nifty has immediate support at 22,600. The daily range for the Bank Nifty will be between 48,600 and 49,400 levels.
Buy stocks recommended by Vaishali Parekh for today:
1] SBI: Buy at ₹779, goal ₹810, stop loss ₹765;
2] Sumitomo Chemical India: Purchase at ₹404.35, aim for ₹425, and halt loss at ₹396.
3-Mukand: Purchase at ₹172, aim for ₹180, and halt loss at ₹168.
