Buy or sell stocks: The key benchmark indices of the Indian stock market are expected to trade with a cautious bias as uncertainty surrounding US-Iran negotiations over the reopening of the Strait of Hormuz continues to weigh on global risk sentiment. The renewed geopolitical uncertainty has triggered a rebound in crude oil prices, contributing to a weaker close on Wall Street and a subdued start across Asian markets, setting a cautious backdrop for domestic equities.
Investor sentiment remains restrained as negotiations appear to have entered a more complex phase. US President Donald Trump has called for compensation from Iran, while Tehran has reiterated conditions for reopening the Strait of Hormuz, raising doubts over the timing and durability of any potential agreement. Until greater clarity emerges, markets are likely to remain headline-driven, with investors reluctant to take aggressive directional positions.
WTI crude oil continues to hold on to its recent gains, trading near the $82-per-barrel mark as uncertainty surrounding the Strait of Hormuz negotiations keeps a geopolitical risk premium embedded in energy prices.
Gift Nifty live price signalling flat opening
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Gift Nifty live price is signalling a flat opening on Dalal Street, as the index is oscillating around yesterday’s spot Nifty close. However, she maintained that a decisive move above the important 200-period MA at the 24700 zone is necessary to trigger a breakout rally.
Stock market today
Speaking on the outlook for the Nifty 50 index, Vaishali Parekh said the 50-stock index continues to move within a narrow range and once again hovered near the 24600 zone, with consolidation visible. Overall, to witness a flat session, closing near the 24600 level, with bias maintained in a positive approach as of now.
“A decisive move above the important 200-period MA at the 247,00 zone is necessary to trigger a breakout, and thereafter, expect a fresh upward move in the coming days, whereas the near-term important 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 index, Vaishali Parekh of Prabhudas Lilladher said, the key benchmark index continues to struggle with a tight, narrow range-bound session, closing on a flat note near the 57,700 level, just sustaining above the important 200-period MA at the 57,500 level with bias maintained with a positive approach as of now.
“The Bank Nifty index, as we have been mentioning, would need a decisive breach above the tough resistance hurdle at the 58,500 zone, whereas it would have the near-term support zone near the important 50-EMA level at the 57,000 zone, which needs to be sustained to maintain the overall bias intact,” said Parekh.
Vaishali Parekh’s stock recommendations for today
Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks for intraday trading: APL Apollo Tubes, Tata Consumer Products, and NRB Bearings.
1] APL Apollo Tubes: Buy at ₹2020, Target ₹2100, Stop Loss ₹1980;
2] Tata Consumer Products: Buy at ₹1108, Target ₹1160, Stop Loss ₹1090; and
3] NRB Bearings: Buy at ₹478, Target ₹510, Stop Loss ₹468.
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.
