Buy or sell: Vaishali Parekh recommends three stocks to buy today — Nov 5
2 months ago

Buy or sell: Vaishali Parekh recommends three stocks to buy today — Nov 5

Live Mint  

Buy or sell stocks: The benchmark indices of the Indian stock market, Sensex and Nifty 50, witnessed a broad sell-off on Monday, dragging them down more than 1 per cent. The Nifty 50 index closed 1.27 per cent lower on November 4 at 23,995.35 points, compared to 24,304.35 points at the previous market close. Vaishali Parekh's stocks to buy today Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said that the Nifty witnessed heavy profit booking after facing resistance near the 24,500 zone and slipping below the 24,000 level to form a bearish candle. For today, Parekh recommended three buy-or-sell stocks: Dredging Corporation of India Ltd, Infosys Ltd, and Hindustan Zinc Ltd. Stock market today On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty witnessed heavy profit booking after resisting near 24,500 levels and slipping down below 24,000 levels significantly to form a bearish candle pattern on the daily chart to turn the sentiment a little bit cautious.” “The index would have the near-term support at the 200 DMA level of 23,500, below which the bias would turn weak and can expect further slide, and with the US election outcome event nearing, high volatility and fluctuations are expected in the coming days,” said the stock market expert.

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