Buy or sell stocks: Despite the continuous uptrend in the Mid-cap and Small-cap indices, key benchmark indices ended flat on Tuesday. The Nifty 50 index ended marginally higher, while the BSE Sensex finished 53 points lower at 82,391. The Bank Nifty index ended 210 points downside at 56,629. Grasim, Tech Mahindra, and Dr Reddy were amongst the major gainers on the Nifty. Conversely, Trent, Maruti, and Bajaj Finance faced selling pressure and became major losers.
Both the Nifty Mid-cap and Small-cap indices continued their upward journey, ending with minor gains along with the Nifty. The Nifty Small-cap index continued its upward journey for the seventh day in a row, closing at its highest level since 03-Jan-2025. The market breadth remained decisively positive for the fifth consecutive session, with advancing stocks significantly outpacing declining ones, as indicated by a BSE advance-decline ratio of 1.25.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market bias is positive as the Nifty 50 index is sustaining above 25,000 levels. However, the Prabhudas Lilladher expert maintained the key benchmark index needs to break above 25,116 on a closing basis to improve the bias.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index once again witnessed a sluggish session with a very narrow movement throughout the session to end on a flat note with the broader market showing some active participation to support the overall sentiment maintained positive. The index has consolidated and sustained above the 25,000 zone, maintaining the trend intact. Once the recent peak of 25,116 zones is breached decisively, one can expect fresh targets of 25,600 and 26,000 in the coming days for the index, as mentioned earlier.”
“The Bank Nifty index, after the strong spurt, has been witnessing a gradual slide since the last two sessions, maintaining the positive bias, and with the 56,000 zone positioned as the important support zone, the index would need another round of momentum breaching the 57,000 decisively to expect fresh upward move. As said earlier, one can expect the index to gain further for fresh upside targets of 57,800 and 60,000 achievable in the coming days with the 55,800 zone as the important support area,” said Parekh.
Parekh said that today, support for the Nifty is at 24,900, while resistance is at 25,300. The Bank Nifty will have a daily range of 56,200 to 57,200.
Vaishali Parekh’s stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: Network18, Nelco, and Zydus Lifesciences.
1] Network18: Buy at ₹57, Target ₹62, Stop Loss ₹55;
2] Nelco: Buy at ₹930, Target ₹1000, Stop Loss ₹900; and
3] Zydus Lifesciences: Buy at ₹980, Target ₹1030, Stop Loss ₹960.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
