Buy or sell: Gift Nifty up, Vaishali Parekh recommends three stocks to buy amid escalation in the US-Iran war

Buy or sell stocks, 29 June 2026: The key benchmark indices of the Indian stock market are expected to trade on a cautious note following a renewed flare-up in geopolitical tensions after fresh military exchanges between the U.S. and Iran. Although both sides have reportedly agreed to halt further attacks following the latest escalation, the developments have reintroduced uncertainty into global financial markets and are likely to keep investor sentiment guarded in the near term.

That said, broader diplomatic efforts and peace negotiations remain underway, offering hope that tensions can be contained. Continued progress on the diplomatic front could help limit downside risks and provide support to global risk sentiment in the sessions ahead.

Crude oil prices are currently trading in the $69–$70 per barrel range, remaining well below the highs witnessed during the recent Middle East conflict. Although the latest flare-up in regional tensions triggered a brief bout of volatility in energy markets, crude prices have remained largely contained, providing continued relief to India's macroeconomic outlook.

Gift Nifty Live Chart signals flat-to-positive start

The Gift Nifty Live Chart indicated a positive-to-positive opening on Monday, with the index trading around 50 points above Thursday's spot Nifty close. The Gift Nifty was trading near 24,107.5, reflecting a 50-point premium over the Nifty 50 index's previous close.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that a positive start was indicated and achieved the 24,250 zone in the first half of the trading session, with profit booking seen post lunch to fizzle out the gains and ended near the 24,050 level with bias maintained with a cautiously positive approach as of now.

“The Nifty 50 index would have the important support positioned near the 23800 zone, which needs to be sustained, whereas on the upside, the crucial tough resistance hurdle near the 24350 zone needs to be breached decisively to establish conviction and clarity for further upside positive move,” said Parekh.

On the outlook of the Bank Nifty index, the Prabhudas Lilladher expert said the key benchmark index would continue to have the support maintained near the important 100-period MA at the 56,400 zone, which needs to be sustained, and, on the upside, can expect targets of 59,300 and 60,500 levels in the coming days.

Vaishali Parekh's stock recommendations for today

Regarding intraday stocks for today, Vaishali Parekh recommended these three buy-or-sell stocks: Refex Industries, Tata Consumer Products, and Samvardhana Motherson International.

1] Refex Industries: Buy at ₹348.95, Target ₹368, Stop Loss ₹342;

2] Tata Consumer Products: Buy at ₹1131, Target ₹1170, Stop Loss ₹1110; and

3] Samvardhana Motherson International: Buy at ₹151.70, Target ₹162, Stop Loss ₹148.

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.