Buy or sell: Gift Nifty signals gap-up start, Vaishali Parekh recommends three stocks to buy today

Buy or sell stocks, 22 June 2026: The key benchmark indices of the Indian stock market snapped their five-session winning streak on Friday and ended lower amid a broad-based sell-off led by the IT pack. After a subdued start, the Nifty 50 traded with a negative bias for most of the session as persistent selling in heavyweight technology and select banking counters kept the index under pressure. However, a rebound in the final half hour of trade helped trim some of the losses. Consequently, the Nifty 50 index settled at 24,013.10, down 0.64%.

Sectoral participation remained mixed, with IT emerging as the biggest drag on the market. Realty and auto stocks also traded under pressure, while pockets of resilience were visible in pharma and select metal counters. Broader markets fared relatively better, with both midcap and smallcap indices ending with gains of nearly half a per cent each, indicating that the weakness was primarily concentrated in heavyweight stocks.

What does the Gift Nifty Live Chart signal?

The Gift Nifty Live Chart is signalling a positive start for the Indian stock market today. The index is trading around 150 points above Friday's spot Nifty close.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the key indices of the Indian stock market may open on a positive note, as the Gift Nifty Live Chart is oscillating around 24,165, nearly 150 points above Friday's spot Nifty close.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, the key benchmark index witnessed a gap-down opening below the 24,000 zone on the back of weak cues from the IT sector, which dragged the index to a weak start and thereafter, with consolidation visible, closed the session just above the 24,000 zone.

“With the overall bias still maintained positive, one can expect a further upward move once the support zone near the 50-EMA at the 23,800 level is sustained and, with conviction established, can anticipate a further rise in the coming days,” said Parekh.

On the outlook for the Bank Nifty today, Vaishali Parekh said the index indicated a weak start, with some profit booking, followed by a gradual recovery in the second half, and closed near the 57,700 zone, with bias maintained in a cautiously positive approach.

“The important 200-period MA at the 57,000 level would be the near-term support, which needs to be sustained as of now, and on the upside, can anticipate the index to achieve further targets of 59,200 and 60,500 levels in the coming days,” said Parekh.

Vaishali Parekh's stock recommendations for today

Regarding intraday stocks for today, Vaishali Parekh recommended these three buy-or-sell stocks: Lenskart, Hindalco Industries, and HDFC Life.

1] Lenskart: Buy at ₹510, Target ₹530, Stop Loss ₹500;

2] Hindalco Industries: Buy at ₹1016, Target ₹1045, Stop Loss ₹1000; and

3] HDFC Life: Buy at ₹593, Target ₹605, Stop Loss ₹580.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.