Buy or sell stocks: The Indian stock market traded in a measured and balanced manner on Tuesday, reflecting a tug-of-war between supportive domestic fundamentals and external headwinds. Strong domestic liquidity, resilient consumption trends, and expectations of policy continuity continue to anchor investor confidence—particularly in banking and select large-cap stocks.
At the same time, cautious global sentiment and currency-related pressures restrained aggressive risk-taking. Fresh buying at lower levels, along with short covering in banking, auto, and metal stocks following the expiry of monthly derivative contracts, helped the Nifty recoup most of its intraday losses and close the session largely flat.
Following a significant decline on Monday, gold and silver prices experienced a strong pullback on Tuesday. However, the precious metals are under pressure in early morning deals on Wednesday. The COMEX gold price is trading red and quoting $4,381.45 per ounce, whereas the COMEX silver is trading red by a huge margin. The white metal is quoting around $75 per ounce, more than 3% below than its close price on Tuesday.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has slightly weakened after participatory selling on Monday. The Nifty 50 index finished below 26,000 and inched closer to its crucial 50-day EMA support, placed at 25,850. To strengthen the bull’s conviction, the 50-stock index needs to break above 26,250 on a closing basis.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, “The Nifty 50 index, after 3 sessions of losing streak, witnessed a volatile session on the monthly expiry day of the F&O segment with the index respecting the low made near the 25,880 zone during the day and closing on a flat note having the important and crucial support near the 50-DEMA level at 25,850 zone sustained and expecting for a revival in the coming sessions. The index would need to move past the 26,200 zone to establish conviction and thereafter, expect to continue with the upward move to trigger for fresh breakout in the coming days.”
On the outlook of the Bank Nifty index, Parekh said, “The Bank Nifty index once again respected the important support zone of 58,700 level during the intraday session and witnessed a revival to close near the 59,200 zone with bias once again maintained intact, continuing with the overall consolidation phase. With the PSU Banks looking good and picking up momentum during the session, one can expect further gains, and on the upside, as mentioned earlier, the index would desperately need a decisive breach above the 59,800 level to trigger a fresh upward move in the coming days.”
Parekh stated that immediate support for the Nifty 50 index is located at 25,800, while the resistance level is at 26,200. The Bank Nifty is expected to have a daily range of 58,800 to 59,800.
Vaishali Parekh’s buy or sell stock recommendations
Regarding intraday stocks for today, Vaishali Parekh recommended three buy-or-sell stocks: 360 One, JBM Auto, Ola Electric Mobility.
1] 360 One: Buy at ₹1180, Target ₹1220, Stop Loss ₹1160.
This stock is already in a bull trend, now ready for a new round of momentum.
2] JBM Auto: Buy at ₹620, Target ₹660, Stop Loss ₹600.
The stock appears positive on the technical chart pattern and is poised for a decisive breakout above ₹650, signalling a fresh uptrend.
3] Ola Electric Mobility: Buy at ₹36.30, Target ₹40, Stop Loss ₹35.
The stock is showing signs of recovery, and the rebound won’t be a dead-cat bounce.
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.
