Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 21

In today's volatile stock market, it's essential to have expert guidance to navigate the ups and downs of investing. Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher, has shared her insights and recommendations on three stocks to buy today. Let's dive in and explore her expert analysis.

Market Overview:

After a three-day rise fueled by foreign inflows and positive global cues, the Sensex and Nifty 50 indexes concluded a special trading session on May 18 with significant gains. The small and mid-cap indices outperformed the benchmark indices, while all sectoral indices closed in the green. The Sensex gained 88.91 points to settle at 74,005.94, and the Nifty 50 rose to 22,502.00. As we look ahead, it's crucial to consider key economic indicators that will impact market forecasts.

Nifty 50 Outlook:

According to Vaishali Parekh, the Nifty 50 index faced resistance near the 22,500 zone during the special trading session. The broader market exhibited active participation, signaling positive momentum. Parekh anticipates near-term support around the 22,300 zone, with potential upside movements towards 22,600–22,900 levels in the coming days.

Bank Nifty Outlook:

The Bank Nifty remained subdued in the short session, hovering around the 48,200 levels with a positive bias. Breaking past the significant 50EMA level at 47,700 has strengthened the upward bias, with targets set at 49,000 and 49,700 levels in the near future. The support levels for Bank Nifty are at 47,400, with resistance at 48,500.

Stocks to Buy Today:

Vaishali Parekh recommends three stocks to buy today:

Gujarat State Fertilizers and Chemicals Ltd

• Buy at ₹238.90

• Stoploss at ₹233

• Target at ₹250

Welspun Corp Ltd

• Buy at ₹629

• Stoploss at ₹615

• Target at ₹657

HFCL Ltd

• Buy at ₹100.95

• Stoploss at ₹98

• Target at ₹107

Expert analysis and recommendations can provide valuable insights for stock market investors. By following the guidance of experienced professionals like Vaishali Parekh, investors can make informed decisions and navigate the market with confidence. As always, it's essential to conduct thorough research and consider your risk tolerance before making any investment decisions.
With expert guidance and a strategic approach, investors can capitalize on market opportunities and achieve their financial goals in the long run.
Invest wisely and stay informed!