Buy or sell stocks, 23 April 2026: Snapping Tuesday’s gains amid weak global markets and sector-specific pressure, the key benchmark indices of the Indian stock market witnessed a corrective session on Wednesday. The Nifty 50 index crashed 198 points and closed at 24,378. The BSE Sensex nosedived 756 points, finishing at 78,516. The Bank Nifty index corrected 247 points and closed at 57,124.
Sectorally, the tone was mixed, with a sharp sell-off in IT stocks, while auto, banking, and financials also witnessed profit booking after the recent rally. However, select names from the energy, FMCG, and realty spaces showed relative resilience. Notably, broader markets remained relatively stable, with midcaps ending flat and smallcaps gaining over 1%, indicating selective participation.
Gift Nifty signals a gap-down opening
Gift Nifty index today opened lower at 24,279 and drifted further down towards 24,200 levels, making an intraday low of 24,201. By 7:15 AM, the Gift Nifty index was trading around 24,205.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market bias is cautious. The Prabhudas Lilladher expert said the Nifty 50 index is finding resistance around 24,500. She said the 50-stock index has strong support now at 23,900, and a bullish or bearish trend can be assumed on a break above or below this range. Parekh predicted a gap-down opening on Wednesday as the Gift Nifty is trading red since morning.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index is finding resistance near the 24,500-zone, slipped down with profit booking witnessed amid geo-political tensions once again hanging on with no clarity and overall, the indices are precariously placed with a cautious approach.”
The broader markets, however, with some select sectors, are maintaining their positive bias. As mentioned earlier, the index would have a crucial zone near the 24,300 level, which needs to be sustained; failing which, there can be further downward movement in the coming sessions.
On the outlook for the Bank Nifty index, Parekh said the index witnessed resistance near the 57,450 zone and slipped, with profit booking seen to close near the 57,000 zone, maintaining a cautious approach for now.
“The Bank Nifty index would have the near-term support at the 55,800 zone, which needs to be sustained, whereas the 100-period MA at the 58,200 level would be the near-term resistance, which needs to be breached above,” said Parekh of Prabhudas Lilladher.
Vaishali Parekh’s stock recommendations for today
Regarding stocks to buy today, Vaishali Parekh recommended these three intraday stocks to buy or sell: Greenply, Aptech, and Edelweiss Financial Services.
1] Greenply: Buy at ₹240, Target ₹250, Stop Loss ₹235;
2] Aptech: Buy at ₹102, Target ₹110, Stop Loss ₹98; and
3] Edelweiss Financial Services: Buy at ₹121, Target ₹128, Stop Loss ₹117.
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.
