Buy or sell stocks: The Indian stock market ended on a mildly positive note on Wednesday, as strength in banking, metal, and FMCG stocks provided a steady underpinning and helped counterbalance sharp selling in the IT sector. The resilience in these heavyweight segments lent stability to the indices despite sector-specific pressure. Persistent DII inflows continued to offer strong structural support, cushioning volatility and reinforcing investor confidence amid mixed global cues.
Overall sentiment remained cautiously constructive, backed by optimism around domestic growth prospects and improving earnings visibility. However, in the absence of fresh triggers, price action remained largely range-bound and choppy, suggesting a consolidation phase rather than a decisive directional move.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market bias has improved as the Nifty 50 index closed above 25,800. Prabhudas Lilladher predicted further upside for Indian indices.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index continues to gain strength, sustaining above the important 50EMA level, which is positioned near the 25680 zone, maintained as the strong near-term support, and currently closing above the 25,800 level has further improved bias and sentiment overall. With the broader markets supporting the benchmark index, on the upside, Nifty needs to breach above the important hurdle of the 26000 zone, which shall establish further stability and conviction for further upward movement in the coming days.”
On the outlook of the Bank Nifty today, Parekh said, “The Bank Nifty index, once again, hit a new high on the closing basis, scaling above the 61500 level, and with the bias maintained strong, hovered near the 61500 zone, and we can expect further upward movement in the coming days with PSU banks gaining strength and carrying on with the positive move further ahead.”
Parekh said that one can expect the index to gain further, with fresh upside targets at 62000 and 62800, achievable in the coming days, while the 59650 zone remains an important support area.
Vaishali Parekh’s stock recommendations for today
Regarding stocks to buy today, Vaishali Parekh recommended three intraday stocks: Syngene International, Carborundum Universal, and Hyundai Motor India.
1] Syngene International: Buy at ₹433, Target ₹450, Stop Loss ₹425;
2] Carborundum Universal: Buy at ₹840, Target ₹880, Stop Loss ₹825; and
3] Hyundai Motor India: Buy at ₹2210, Target ₹2300, Stop loss ₹2180.
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.
