Expert’s Picks: Vaishali Parekh Recommends Three Stocks to Buy Today — May 29

Today, the Indian stock market closed lower for the third consecutive session, influenced by weak global cues. The Nifty 50 index dropped by 44 points, ending at 22,888, while the BSE Sensex decreased by 220 points, closing at 75,170. The Bank Nifty index also experienced a decline of 139 points, concluding at 49,142. Market volumes on the NSE Cash segment decreased by almost 16% compared to the previous day. Despite this, the broad market indices fell more than the Nifty, with the advance-decline ratio sharply declining to 0.4:1.

According to Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, the overall sentiment in the Indian stock market remains cautiously optimistic. The Nifty 50 index has crucial support levels at 22,780 to 22,800, and a positive market bias is anticipated once it surpasses the hurdle at 23,100 on a closing basis.


Parekh recommends three stocks to consider buying today: Sun TV, Hindustan Unilever Ltd (HUL), and HDFC Life.

Regarding the outlook for the Nifty today, Parekh stated, “The Nifty 50 index had a volatile session today, ranging between 22,850 and 23,000 levels, with an overall cautiously positive bias. We need to wait and observe further developments to stabilize. Nifty has significant support at 22,780 to 22,800 levels and needs to decisively breach the 23,100 zones for a positive bias and increased confidence.”

Parekh also mentioned key support and resistance levels for the Sensex/Nifty, with support at 74,500/22,750 and resistance at 75,800/23,050. Additionally, Parekh provided a daily range of 48,500 to 50,000 levels for the Bank Nifty.

Here are Parekh’s recommendations for buying or selling stocks:

  1. Sun TV: Buy at ₹660, target ₹720, stop loss ₹630
  2. HUL: Buy at ₹2,395, target ₹2,600, stop loss ₹2,300
  3. HDFC Life: Buy at ₹578, target ₹630, stop loss ₹550

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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