Tue, Feb 27, 2024 12:39 PM
Buy or sell: Vaishali Parekh recommends three stocks to buy today!
A Flip by Avya Verma
📌Investors may remain cautious ahead of the Maharashtra elections due to potential political uncertainties. 📌Foreign Portfolio Investors (FPIs) have maintained their bearish stance on Indian markets in November. 📌The rise in U.S. Treasury bond yields, with the 10-year yield reaching 4.44% and the 2-year yield at 4.3%. 📌NTPC Green Energy IPO is set to open for subscription on November 19.
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Foreign investors have pulled out Rs 22,420 crore from the Indian equity market so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising US dollar as well as Treasury yields. With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far.
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On the structural front, all Major indices including Nifty 50, Bank Nifty, Midcap, Small Cap have approached their 200 days EMA amid oversold conditions. Over past two years, on multiple occasions, mean reversion towards 200 days EMA resulted into technical pullback. 📌This week, Buy Larsen & Toubro in the range of 3,530-3,630 for the target of 4,060 with a stop loss of 3,340.
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