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- The Indian stock market showed a significant recovery on Monday, despite a gapdown opening, with the Nifty 50 index closing 48 points higher at 22,104 and the BSE Sensex ending 111 points higher at 72,776.
- Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, recommends buying NALCO, Coforge, and AB Capital stocks today.
- The overall market recovery, despite a slight dip in the small-cap index, indicates a promising sign for potential trades.
Despite a gapdown opening, the Indian stock market shows significant recovery with the Nifty 50 index closing higher. Expert Vaishali Parekh recommends buying NALCO, Coforge, and AB Capital stocks today.
Indian Stock Market Recovers
The Indian stock market demonstrated a significant recovery on Monday, despite a gapdown opening. The Nifty 50 index concluded 48 points higher at 22,104, while the BSE Sensex ended 111 points higher at 72,776. The Bank Nifty index surged 333 points and settled at 47,754. Notably, cash market volumes on the NSE escalated to ₹0.98 lakh crore.
Expert Stock Recommendations
Vaishali Parekh, a seasoned Vice President of Technical Research at Prabhudas Lilladher, has a keen eye for market trends. She believes the Nifty 50 index sustained near the previous bottom zone of 21,800. The Prabhudas Lilladher expert said that the Indian stock market sentiment has improved as the 50-stock index has closed above the 22,000 mark. Vaishali noted that the index may continue the uptrend and touch 22,250 soon. Regarding stocks to buy today, Vaishali Parekh, with her wealth of experience, recommended three buy or sell stocks for today: NALCO, Coforge, and AB Capital.
Stock Market Today
Looking at the technical indicators for Nifty today, Vaishali Parekh noted, “The Nifty 50 index has sustained near the previous bottom zone of the 21,800 levels, a key support level in technical analysis. It has also witnessed a strong recovery, breaching above the 22,000 zone and closing on a better note near 22,100 levels. This indicates an improvement in sentiment and a potential for further positive movement till the significant 50EMA zone near 22,250 levels in the coming session.”
Buy or Sell Stocks
1] NALCO: Buy at ₹177, target ₹184, stop loss ₹173;
2] Coforge: Buy at ₹4535, target ₹4700, stop loss ₹4440; and
3] AB Capital: Buy at ₹222.35, target ₹232, stop loss ₹217.
Conclusion
The Indian stock market showed a significant recovery on Monday, with the Nifty 50 index closing 48 points higher. Vaishali Parekh, a seasoned Vice President of Technical Research at Prabhudas Lilladher, recommends buying NALCO, Coforge, and AB Capital stocks today, indicating a promising outlook for potential trades.
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