Buy or sell stocks: The Indian stock market is set to begin today’s session on a cautious note, tracking softer global cues as Asian markets trade under pressure, fostering a mild risk-off environment. GIFT Nifty signals a weak opening, with scope for some early profit-booking following the recent rally. That said, the broader domestic market structure remains constructive, underpinned by robust internal liquidity and orderly price action around key technical support zones, which continues to cushion downside risks and maintain the medium-term bias.
Globally, Asian markets are trading lower this morning, led by weakness across Japan and South Korea, as investors turn cautious ahead of key economic data releases from China and the US. US equities closed lower on Friday, while Nasdaq futures continue to signal stress within tech-heavy segments. European markets are also expected to open on a softer footing, reflecting the broader global consolidation phase. Overall risk appetite appears subdued, with investors reassessing their positions following recent central bank actions and shifting attention from AI-led optimism to more complex macroeconomic indicators.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has improved as the Nifty 50 index has sustained above the 26,000 level after breaking above this psychological threshold. The 50-stock index is poised to reach 26,300 if it opens above the 26,000 level on Monday.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index witnessed a strong gap-up opening to continue with the optimistic bias to move past the 26,000 zone and remained almost rangebound, sustaining the level for the rest of the session with bias and sentiment better placed with a positive approach maintained for the coming sessions. The index can continue its positive move to retest the 26325 level peak zone once again in the coming days and anticipate a fresh breakout to trigger further rise, with the undertone becoming stronger. The important 50-DEMA level at 25,750 zone shall be positioned as the support level for the index as of now."
On the outlook of the Bank Nifty index, Parekh said, "The Bank Nifty index also picked up with a gap-up opening session, but overall was underperforming as compared to the Nifty index, with almost sluggish movement throughout the session, hovering near the 59,400 zone. As mentioned earlier, the index would need a decisive move past the 60,000 zone to establish conviction and thereafter, expect a further upward move for targets of 61,300 and 63,000 levels in the coming days with 58,800 level maintained as the important support level."
Parekh stated that immediate support for the Nifty 50 index is located at 25,900, while the resistance level is at 26,300. The Bank Nifty is expected to have a daily range of 59,000-60,000.
Vaishali Parekh's stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks for intraday trading: Blue Star, ADF Foods, and Gravita India.
1] Blue Star: Buy at ₹1780, Target ₹1830, Stop Loss ₹1760;
2] ADF Foods: Buy at ₹211, Target ₹220, Stop Loss ₹205; and
3] Gravita India: Buy at ₹1838, Target ₹1900, Stop Loss ₹1800.
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.
