Buy or sell stocks: Despite trimming a significant portion of their intraday gains, the key benchmark indices of the Indian stock market, the Nifty 50 and the BSE Sensex, finished higher on Friday. The Nifty 50 index added 112 points and closed at 23,114, whereas the Bank Nifty index ended 325 points higher at 74,532. The Bank Nifty index ended marginally lower at 53,427.
Sectorally, Dalal Street breadth remained positive with most indices ending in the green. Telecom, IT, metals, pharma, and PSU Bank stocks led the gains, rising 1–2%, while media, private bank, and realty were the only sectors that ended in the red. The Nifty mid-cap index rose 0.6%, indicating continued participation in the broader market, while the small-cap index ended flat, reflecting relatively muted activity.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Dalal Street undertone is cautiously positive. The Prabhudas Lilladher expert said the Nifty 50 index has shown some resilience near the 22900 zone and would need to sustain the support zone in the coming sessions.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the Nifty 50 index witnessed a slightly volatile session opening in the green but witnessing resistance near the 23,300-23,350 zone slipped down with some profit booking seen and closed near the 23,100 level with bias and sentiment still maintained with a very cautious approach and is precariously placed with series of lower top formation visible on the daily chart.
“The benchmark index as of now has shown some resilience near the 22900 zone and would need to sustain the support zone in the coming sessions to avoid any further worsening of the trend,” said Parekh.
On the outlook for the Bank Nifty today, Parkh said the index continues to trade weakly during the session, witnessing steady profit booking after the initial gap-up opening in the morning, fizzling out and closing near the lower end at 53,400, with bias and sentiment maintained in a cautious approach.
“The index would have the crucial 53,200 zone, which was the low made recently, and would need to sustain to avoid any fresh trigger of selling pressure with the next major support positioned near the 51,700 zone,” Vaishali Parekh of Prabhudas Lilladher added.
Vaishali Parekh’s stock recommendations for today
Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks for intraday trading: BHEL, Northern ARC Capital, and Avalon Technologies.
1] BHEL: Buy at ₹262, Target ₹275, Stop Loss ₹256;
2] Northern ARC Capital: Buy at ₹234.25, Target ₹247, Stop Loss ₹228;
3] Avalon Technologies: Buy at ₹951.90, Target ₹990, Stop Loss ₹930.
US-Iran war news
According to the news agency AP, Iran and the allied Lebanese militant group Hezbollah stepped up attacks on Israel on Sunday, as the United States. Iran threatened to target critical infrastructure in the war in the Middle East, which is now in its fourth week.
Iran said the Strait of Hormuz, crucial to oil and other exports, would be “completely closed” immediately if the U.S. follows up on President Donald Trump’s new threat to attack its power plants. Trump late Saturday set a 48-hour deadline to open the strait. Iran’s parliament speaker said Tehran also would retaliate against U.S. and Israeli energy and wider infrastructure.
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.
