Buy or sell: Gift Nifty signals tepid start | Vaishali Parekh recommends three stocks to buy today —2 September 2026

Buy or sell indicator: The key benchmark indices of the Indian stock market — Sensex, Nifty 50, and Bank Nifty — are likely to remain under pressure as surging crude oil prices and rising global bond yields continue to weigh on investor sentiment amid the escalating tension in the US-Iran war. The Gift Nifty live index is also signalling a tepid start for the Indian stock market today, as it is trading below yesterday's spot Nifty close. However, the index is indicating a price above 24,000 for the 50-stock index, which may boost the morale of Dalal Street bulls.

Gift Nifty live chart

The Gift Nifty live chart is trading below its previous close and yesterday's spot Nifty close, but it is also indicating that Nifty 50 may open above 24,000.

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market may have a muted start, as the Gift Nifty live index is trading below yesterday's spot Nifty close and its previous close. She advised investors to maintain a cautious approach until the 50-stock index is above 23,800.

Stock market today

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, the 50-stock index witnessed resistance near the 24150 zone and slipped heavily with profit booking seen to end near the 24000 level, with bias once again maintained with a cautious approach, with the 23800-zone maintained as the important and crucial support, as mentioned earlier, and it needs to be sustained to maintain the overall trend intact.

“On the upside, the index would continue to have the important resistance hurdle of the 24,400 zone, which needs to be breached decisively to establish conviction and thereafter, expect a fresh further upward move in the coming days,” she said.

On the outlook for the Bank Nifty today, Vaishali Parekh said the key benchmark index once again slipped, with profit booking witnessed, closing near the 57,400 level near the important 200-period MA, and is trapped in a tight range of 58,500 and 57,000 levels for quite a long time, with no directional movement visible.

“As we have been mentioning, the 50-EMA zone near the 57,300 is the near-term and on the upside, a decisive breach above the 58,600 level is much awaited, and thereafter, we can expect further targets of 59,600 and 60,500 levels in the coming days,” said Parekh.

Vaishali Parekh's stock recommendations for today

Regarding the buy-or-sell indicator for intraday trading, Vaishali Parekh recommended three stocks to buy today: Mphasis, Jindal Stainless, and Rain Industries.

1] Mphasis: Buy at ₹2505, Target ₹2620, Stop Loss ₹2450;

2] Jindal Stainless: Buy at ₹734, Target ₹770, Stop Loss ₹720; and

3] Rain Industries: Buy at ₹206.55, Target ₹220, Stop Loss ₹201.

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