Buy or sell: Gift Nifty jumps despite escalation in US-Iran war. Vaishali Parekh recommends three stocks to buy today

Buy or sell stocks, 29 July 2026: The key benchmark indices of the Indian stock market are expected to open upside, when Dalal Street resumes trading on Wednesday. The Gift Nifty Live Chart also indicates a big gap-up opening, with the index trading over 225 points higher than yesterday's spot Nifty close of 23,983.

US-Iran news

Despite the positive opening cues, the underlying sentiment is expected to remain cautious as geopolitical tensions in the Middle East continue to dominate investor focus.

Fresh strikes by US and Saudi forces on Iran-linked militant sites in Iraq, alongside reports of Iranian missile strikes on US military bases, have intensified geopolitical tensions and revived concerns over energy supply disruptions. As a result, WTI crude oil has surged back to around $82 per barrel after briefly falling to near $78, reflecting a renewed geopolitical risk premium amid close market tracking of developments in the Middle East.

Gift Nifty Live Chart signals a big gap-up opening

The Gift Nifty Live Chart is signalling a big gap-up opening on Wednesday, with the Gift Nifty index trading above 24,200.

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market may have a positive start on Wednesday, as the Gift Nifty Live Chart signals that the Nifty 50 index may open around 24,200. However, she maintained that the 50-stock index needs to remain above 24,100 for a fresh bull trend on Dalal Street.

Stock market today

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the key benchmark index witnessed consolidation near the 24,000 zone in a narrow, range-bound session, closing flat, with bias and sentiment remaining positive, albeit with a slightly cautious approach.

“The Nifty 50 index would need to sustain itself above the near-term support of the 23,800 level, while the important support zone is positioned near the 23,700 level, which needs to be sustained as of now. On the upside, a breach above the 24,100 level shall trigger the next higher targets of 24,400 and 24,600 levels in the coming days,” she said.

On the outlook of the Bank Nifty today, Vaishali Parekh said, the benchmark index witnessed a weak session, breaching below the important 50-EMA support of the 56,836 zone, with profit booking dragging the index down to close near the 56,750 level, with bias weakening once again and having the next support near the 56,000 level, with bias turning into cautious mode.

“The important support at 55,500 levels shall be the crucial zone that needs to be sustained in the coming sessions, whereas on the upside, the 200-period MA at the 57,500 level would be the important hurdle that needs to be breached above decisively,” said Parekh.

Vaishali Parekh's stock recommendations for today

Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks for intraday trading — Nestle India, HFCL, and Larsen & Toubro (LT).

1] Nestle India: Buy at ₹1485, Target ₹1550, Stop Loss ₹1450;

2] HFCL: Buy at ₹185, Target ₹200, Stop Loss ₹180; and

3] LT: Buy at ₹3830, Target ₹4000, Stop Loss ₹3740.

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.