Buy or sell: Gift Nifty hints gap-down opening, Vaishali Parekh recommends three intraday stocks; US-Iran news in focus

Buy or sell stocks, 11 June 2026: The key benchmark of the Indian stock market witnessed a sharp sell-off in the second half of the trading session amid profit-taking near key resistance levels. Despite crude oil prices remaining relatively stable at around $91.41 per barrel, investors reduced risk exposure, leading to weakness across several sectors and broader market indices. At close, the Nifty 50 declined 27.15 points or 0.12% to settle at 23,214.95, while the Sensex managed to close marginally higher, gaining 64.42 points or 0.09% to end at 73,983.18.

On the sectoral front, Nifty Media emerged as the biggest laggard, followed by Metal, Realty, and Banking, all of which saw notable selling pressure. In contrast, sectors outperformed the broader market, with FMCG stocks leading the gains. Select private banks and other financial stocks also provided support, helping limit the downside in the benchmark indices.

The broader market also witnessed a similar correction, underperforming the headline indices. The Nifty Midcap 100 index declined 1.49% to close at 59,810, while the Nifty Smallcap 100 index fell 1.33% to settle at 17,822.50, reflecting profit booking across the broader market space.

What Gift Nifty live chart signals?

The Gift Nifty live chart is signalling a big gap-down opening, as the index is trading around 150 points below Wednesday's spot Nifty close. The index opened lower at 23,140 and touched an intraday low of 23,034 during the early morning dealings. By 8:15 AM, the Gift Nifty live chart is trading around 23,060.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the key indices of the Indian stock market may open with a big gap down, as the Gift Nifty live chart is trading nearly 150 points below Wednesday's spot Nifty close. The Prabhudas Lilladher expert said the Nifty 50 index would need to sustain the near-term support of the 23,000 zone to maintain the overall bias intact.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The index was once again subjected to high volatility during the intraday session with the initial half witnessing some positive move reaching the high of 23,425 zone while post lunch, it erased the gains on the back of heavy profit booking to end the session in the red near the 23,200 zone with bias and sentiment continue to be precariously placed.”

“The Nifty 50 index would need to sustain the near-term support of the 23,000 zone to maintain the overall bias intact, and on the upside, would desperately require a decisive breach above the 50-EMA level at the 23,800 zone to establish conviction and clarity,” said Parekh.

Vaishali Parekh's stock recommendations for today

Regarding intraday stocks for today, Vaishali Parekh recommended these three buy-or-sell stocks: UPL, Morepen Lab, and Bajaj Healthcare.

1] UPL: Sell at ₹610, Target ₹585, Stop Loss ₹614;

2] Morepen Lab: Buy at ₹49, Target ₹53, Stop Loss ₹47; and

3] Bajaj Healthcare: Buy at ₹290, Target ₹310, Stop Loss ₹275.

US-Iran war latest news

The United States has yet again struck multiple locations in Iran, with President Donald Trump vowing to “hit them hard” as the peace talks to end the war faltered, endangering the fragile truce that had calmed the tense West Asia. The US has called it a self-defence strike. Iran has reported explosions near the Strait of Hormuz, Qeshm, Kargan and Sirik.

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.