Buy or sell: Gift Nifty down, Vaishali Parekh recommends three stocks to buy today — 3 June 2026

Buy or sell stocks, 3 June 2026: The key benchmark indices of the Indian stock market witnessed a highly volatile session on the weekly Nifty expiry on June 2 and managed to close near the 23,500 mark. After slipping to an intraday low of 23,229.15, the market staged a sharp recovery in the latter half of the session, with the Nifty rebounding nearly 250 points from the day's low. The recovery was primarily driven by short covering and strong buying interest in IT stocks. However, ongoing geopolitical uncertainties continue to keep investors' sentiment cautious.

At close, the Sensex gained 382.50 points or 0.52% to settle at 74,649, while the Nifty 50 index advanced 100 points or 0.43% to close at 23,483. On the sectoral front, the Nifty IT index emerged as the top performer, surging 4.30% and significantly outperforming the broader market. Buying interest was also witnessed in Consumer Durables, FMCG, and Auto stocks. On the other hand, Nifty Healthcare, Pharma, and Oil & Gas indices remained under pressure and ended as the major laggards of the session. Broader markets also participated in the recovery, with the Nifty Midcap 100 index rising 0.19% and the Nifty Smallcap 100 index gaining 0.40%.

What Gift Nifty signals?

The Gift Nifty Live Chart is signalling a gap-down opening as the index is trading below the spot Nifty close on Tuesday. The index today opened marginally higher at 23,498 but soon came under selling pressure, touching an intraday low of 23,457.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market may open gap down on Wednesday, as the Gift Nifty is trading below Tuesday's spot Nifty close. She said the Nifty 50 index has crucial support at 23,200, which needs to remain sacrosanct for the key benchmark to reach 24,000 in the near term.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The index has been moving within a range having the resistance near the 50-EMA zone at 24,000 level, which needs to be breached decisively to trigger a fresh upward move, while on the downside, the 23,200 zone is maintained as a good support which needs to be sustained as of now.”

On the outlook of the Bank Nifty today, Vaishali Parekh of Prabhudas Lilladher said, the key benchmark index has maintained the good support zone near the 53,000 zone and once again during the intraday session witnessed a decent recovery to end marginally in the green near the 53,700 zone with bias still maintained with a cautious approach.

“The upside is capped near the tough resistance barrier of the 55,400 zone, which needs to be breached decisively above in the coming days to establish conviction,” said Parekh.

Vaishali Parekh's stock recommendations for today

Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: RVNL, RCF, and KFin Tech.

1] RVNL: Buy at ₹240, Target ₹260, Stop Loss ₹232;

2] RCF: Buy at ₹126.90, Target ₹133, Stop Loss ₹124; and

3] KFin Tech: Buy at ₹864, Target ₹885, Stop Loss ₹840.

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.