Highlighting a broad positive sentiment, the midcap and smallcap indices extended their upward journey for the fourth conscative day. The nifty midcap 100 gained 0.44%, and the nifty smallcap 100 surged 1.49%. Market Breadth Remained Positive For The Second Day, with Advanceing Stocks Significantly Outnumbering Declining Oones, reflected in a Robust BSE Advance-Decline Ratio of 2.34-2.34 -TS Highest SENCE may 14th.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, BELIEVES The Indian Stock Market Sentiment Has Improved As The Nifty Index Has Closed Above 25,200. The prabhudas liladher expert said a decisive break Above 25,250 May Trigger a Fresh Uptrend, and the Key Benchmark Index May Soon Touch 25,600 Levels. On the lower side, 24,800 is immediati support for the 50-stock index.
Speaking on the outlook of the nifty 50 today, Vaishali Parekh Said, “The Nifty 50 Index Indicated A Strong Closing Above The 25,200 Zone Afer A Long Wait With Further Rising In the Coming Reservation Overall Sentiment Easing Out And Bias Improving as of now. And 26,200 Levels Visible. On the downside, the near-term support shall be elevated to the 24,800 zone, which needs to be sustained to maintain the overall bias intact. “
“The bank nifty index has moved into the positive territory Above The 56,000 Zone With Bias and Sentment Improving, Expecting Furter Rise in the Coming Days, and Once A Decisive also about 57,000 zone It shall trigger a fresh upward move with Higher Targets of 58,500 and 60,000 Levels Achievable. Positioned Near the 55,400 Level, which needs to be sustained as of now, “said parakh.
Parekh said that support for nifty today is placed at 25,100, while the resistance is at 25,500. The bank nifty would have a daily range of 56,200 to 57,200.
Vaishali Parekh’s stock recommendations today
Regarding Stocks to Buy Today, Vaishali Parekh Recommended These Three Buy-or-Sell Stocks: Reliance Power, EIH, and Archean Chemical Industries.
1]Reliance Power: Buy at 66, target 72, Stop Loss 63;
2]EIH: Buy at 363, target 390, Stop Loss 350; and
3]Archean Chemical Industries: Buy at 633, target 660, Stop Loss 620.
Disclaimer: The views and recommendations made about individual analysts or broking companies and not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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