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Business News/ Markets / Stock Markets/  Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 27
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 27

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — KPIT Technologies, Gail, and Chambal Fertilisers

Stock market today: The near-term support for the Nifty today is 22,800, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)Premium
Stock market today: The near-term support for the Nifty today is 22,800, believes Vaishali Parekh of Prabhudas Lilladher. (Photo: Courtesy Prabhudas Lilladher)

Buy or sell stocks for today: After making fresh highs above 23,000 in early trade, the Nifty 50 index settled flat on Friday last week. The BSE Sensex went off 7 points and ended at 75,410, while the Bank Nifty index finished 203 points higher at 48,971. The mid-cap index closed 0.23 percent higher even as the advance-decline ratio fell to 0.66:1.

Stocks to buy today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the overall outlook for the Indian stock market is positive. The Prabhudas Lilladher expert said that the Nifty 50 index touched the 23,000 mark on Friday, and the 50-stock index is now set to touch the 23,200 and 23,500 marks soon. The near-term support for the Nifty today is 22,800. Regarding stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today: KPIT Technologies, Gail, and Chambal Fertilisers.

Also Read: Trade setup for stock market today: Eight stocks to buy or sell on Monday

Stock market today

Vaishali Parekh said on the outlook for the Nifty 50 index, "The Nifty 50 index witnessed a decent gain during the week, scaling the all-time high zone and breaching above the 23,000 levels to strengthen the trend, and sentiment was maintained positive. The index is buoyant, with further targets of 23,200 and 23,500 levels expected in the coming days, and 22,800 would be the important near-term support zone that needs to be sustained."

"The Bank Nifty has gained strength with a big bullish candle formation breaching above the crucial 48,300 zone and has opened the gates for next higher targets of 49,600 and 50,700 levels in the coming days. The index needs to maintain above the near-term important support of 47,500 levels for the bias to remain intact," Parekh said.

Parekh went on to add that the Nifty today has support at 22,800 levels while resistance is seen at 23,200 levels. The Bank Nifty would have a daily range of 48,600 to 49,400 levels.

Shares to buy today

1] KPIT Technologies: Buy at 1551.55, target 1610, stop loss 1520;

2] GAIL: Buy at 204.45, target 213, stop loss 200; and

3] Chambal Fertilisers: Buy at 406, target 422, stop loss 398.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
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Published: 27 May 2024, 06:43 AM IST
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