Market prediction: What Gift Nifty says for opening; Vaishali Parekh gives 3 stocks - HDFC Bank, Cochin Shipyard, Waaree

Stock Market prediction: The key benchmark indices of the Indian stock market are expected to trade with a cautious bias today, with crude oil prices remaining the biggest near-term risk for domestic equities. Renewed U.S.–Iran military tensions and the latest escalation involving Yemen’s Iran-backed Houthis have raised concerns over a broader regional conflict and potential disruptions to global energy and shipping routes. While GIFT Nifty futures are indicating a technical rebound from last week’s lows, the macroeconomic pressure from higher oil prices amid an uncertain geopolitical backdrop is likely to keep investor sentiment guarded at higher levels.

Gift Nifty signals a gap-up start

The Gift Nifty live chart is trading above the previous spot Nifty close and its previous close. The index is trading over 100 points above the previous spot Nifty close and over 50 points above the previous close.

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, has predicted a gap-up start or the Indian stock market. She said the Gift Nifty live chart is trading above the previous spot Nifty close and its own previous close by over 100 and 50 points, respectively.

Stock market today

Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said the 50-stock index, after witnessing a weak start with a gap-down near the 23250 zone, recovered steadily as the day progressed and closed near the 23400 zone. With a cautious approach would need to sustain the 23200 level in the coming sessions.

“The Nifty 50 index would need a decisive move above the 23,800 zone to establish conviction and, thereafter, can expect further follow-through of the positive move, whereas, on the downside, the 23,000 zone would be the important near-term support,” said Parekh.

On the outlook for the Bank Nifty today, Parekh said, the key benchmark index opened with a gap down opening near the 55700 zone but indicated a decent recovery to end the session in the green above the 56,600 zone to show a big positive candle on the daily chart, with the bias slightly turning optimistic and can anticipate a further rise in the coming days.

“The Bank Nifty index would have the important support near the 54,500 level, while on the upside, the 50-EMA at the 57,200 level shall be the important hurdle which needs to be breached decisively to establish conviction,” said Parekh.

Vaishali Parekh's stock recommendations for today

Regarding stocks to buy today, Vaishali Parekh recommended these three intraday stocks: Cochin Shipyard, HDFC Bank, and Waaree Energies.

1] Cochin Shipyard: Buy at ₹1390 | Target ₹1450 | Stop Loss ₹1370;

2] HDFC Bank: Buy at ₹702 | Target ₹730 | Stop Loss ₹689; and

3] Waaree Energiess: Buy at ₹2600 | Target ₹2800 | Stop Loss ₹2500.

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.