Buy or sell stock: Following weak global market sentiments on Trump's tariffs, the Indian stock market ended Tuesday’s session on a decisively negative note, reflecting a combination of weak global cues, cautious investor positioning, and subdued risk appetite. Uncertainty around the U.S. interest-rate trajectory, early signs of a global growth slowdown, and ongoing international trade concerns kept participants defensive throughout the day. Adding to the negative tone, the rupee has weakened sharply, slipping past the psychological 91-per-dollar mark, further dampening investor sentiment.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has turned weak as the Nifty 50 index decisively slipped below the crucial support level of 25,500. The Prabhudas Lilladher expert said the 50-stock index has taken fresh crucial support at the 200-DEMA, placed at 25,100, whereas on the upper side, the key index needs to break above 25,500 to improve Dalal Street sentiment.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, “The Nifty 50 index tanked heavily, moving below the important support of the 25,500 zone, and further, as the day progressed, a decisive break below the 25,400 level intensified the selling pressure to end near the 25200 zone, with bias turning very weak. As mentioned earlier, the index would need to sustain crucial support near the 200-period MA at the 25,100 zone and the long-term trendline, which coincides with this zone. From the current level, the index would need a decisive move past the 25500 level, which would now be the important resistance zone and thereafter, expect some stability in the coming sessions.”
On the outlook of the Bank Nifty index, Parekh said, “The Bank Nifty index witnessed heavy selling pressure from near the 60,000 zone to slip further down post the lunch session to end near the 59,400 level with bias once again precariously placed, having the crucial and important support at 58,800 zone which needs to be sustained failing which the overall trend shall turn weak. As mentioned earlier, the index is gripped between the tight range of 60,200 and 58,800 levels and on the upside, a decisive breach above the 60,400 zone is needed to trigger a breakout.”
Parekh stated that immediate support for the Nifty 50 index is located at 25,100, while the resistance level is at 25,400. The Bank Nifty is expected to have a daily range of 58,800 to 60,000.
Vaishali Parekh's stock recommendations for today
Regarding intraday stocks to buy today, Vaishali Parekh recommended three stocks to buy or sell: Ion Exchange India, TBZ, and EPL.
1] Ion Exchange India: Buy at ₹358, Target ₹375, Stop Loss ₹349;
2] TBZ: Buy at ₹168.40, Target ₹180, Stop Loss ₹164; and
3] EPL: Buy at ₹209, Target ₹222, Stop Loss ₹203.
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.
