Buy or sell: Gift Nifty up despite elusive Iran-Oman deal, Vaishali Parekh recommends three stocks to buy today

Buy or sell stocks, 10 August 2026: The key benchmark indices of the Indian stock market ended lower on Friday as a sharp sell-off in financial stocks, lingering uncertainty over a lasting peace agreement in the Middle East, and investor caution ahead of the closely watched U.S. non-farm payrolls report weighed on market sentiment. The US jobs data is expected to influence expectations for the Federal Reserve's policy trajectory, although it remains only one of several factors shaping market sentiment.

Financials bore the brunt of the decline after the Reserve Bank of India's draft proposal to tighten lending norms for non-banking financial companies (NBFCs) raised concerns over the sector's long-term growth prospects. Shares of Bajaj Finance and Bajaj Finserv were among the biggest drags on the benchmark indices, with selling pressure spreading across the broader NBFC space as investors assessed the potential implications of the proposed regulatory changes.

Gift Nifty live price signalling a gap-up start

The Gift Nifty Live index is around 100 points higher than Friay's spot Nifty 50 close of 24,570, which means bulls may outshine bears during the Opening Bell on Dalal Street.

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market may open with an upside gap, as the Gift Nifty live index is trading hifher than its Friday's close. The index is trading higher than spot Nifty's close on the previous session as well. She predicted that the Nifty 50 index may open above 24,630.

Stock market today

Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, the 50-stock index once again witnessed a lull session to end in the red just below the 24,600 zone with overall bias maintained with a positive approach but for the time being gripped between a narrow range hovering near the 24,600-level finding resistance near the 200-period MA at 24700 level.

“A decisive move past the 24,700 zone shall trigger for fresh upward move in the coming days having targets of 25,000 and 25,500 zone, whereas the near-term support is positioned near the 24,400 level which needs to be sustained to maintain the overall bias,” she said.

On the outlook of the Bank Nifty today, Parekh said, the key benchmark index continue to consolidate within a narrow range sustaining above the important 200-period MA at 57,450 level and closed near the 57,750 zone with bias overall maintained with a positive approach.

“The Bank Nifty index would need a decisive breach above the tough resistance hurdle at 58,600 zone and thereafter, can expect for fresh upward move in the coming days. The index would have the near-term support zone near the important 50-EMA level at 57,000 zone which needs to be sustained to maintain the overall bias intact,” Parekh added.

Vaishali Parekh's stock recommendations for toay

Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks for intraday trading: Grasim Industries, Aster DM Quality Care, and Meesho.

1] Grasim Industries: Buy at ₹3323, Target ₹3450, Stop Loss ₹3270;

2] Aster DM Quality Care: Buy at ₹869.50, Target ₹910, Stop Loss ₹852; and

3] Meesho: Buy at ₹191.35, Target ₹204, Stop Loss ₹187.

Iran-Oman deal latest news

According to the news agency AP, Iran’s Foreign Minister Abbas Araghchi told reporters that negotiations with Oman about “new maritime routes” on the Strait of Hormuz were in the final stages but “this, however, does not mean that the Strait of Hormuz will reopen.” That step requires conditions that “have been conveyed through intermediaries.”

The Supreme National Security Council on Saturday said the strait will not reopen until the U.S. “corrects its behavior.” It demanded that the U.S. never threaten Iran again, a permanent end to the war with Iran and its armed allies, a lifting of the naval blockade of Iranian ports and a withdrawal of the U.S. military from the area. The U.S. also must “completely compensate” Iran for war damage, lift sanctions and “unconditionally” release frozen assets.

Ading more woes for the US administration, Israel on Sunday rejected a deal announced by U.S. President Donald Trump for Gaza. Details emerged on the potential deal between Iran and Oman on managing the Strait of Hormuz as Tehran suggested that vessels linked to “hostile countries” would be barred. Iran also shuffled its top security post.

Meanwhile, Yemen’s Iranian-backed Houthi rebels struck a government-held port on the country’s Red Sea coast, deepening fears over threats to strategic shipping routes and a potential return to civil war.

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.