Buy or sell stocks: The key benchmark indices of the Indian stock market extended their corrective phase for the second consecutive session on Wednesday, following the recent steep sell-off. The Nifty 50 index opened on a firm note but faced resistance near the 24,900 mark, triggering profit booking that dragged the index to an intraday low of 24,772 during the mid-session. However, a late-stage recovery helped the index pare losses settle at 24,855, registering a modest gain of 34 points or 0.14%. On the sectoral front, pressure was evident in media, auto, and realty counters, which declined between 0.5% and 1%.
Conversely, selective buying interest was observed in IT and FMCG pockets, with both indices ending marginally in the green, up around 0.3%. Broader market performance remained muted — the Nifty Midcap 100 ended flat, while the Nifty Small Cap 100 slipped by 0.5%, reflecting underlying caution among participants.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is cautious as the Nifty 50 index faces a hurdle at 24,900. After Trump’s tariff announcement, the mood is expected to remain cautious. If the Nifty 50 sustains above 24,500, then we can expect some relief. Otherwise, there can be some panic selling if the key benchmark index slips below 24,500.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index witnessed a sluggish session with a rangebound movement for most of the session, finding resistance near the important 50-DEMA zone at the 24,900 level and would need a decisive breach above the 25,000 zone to improve the bias and expect further rise. On the downside, as mentioned earlier, the index has the crucial support at the 24,500 level, which needs to be sustained to maintain the overall trend intact.”
The Bank Nifty index witnessed a narrow range-bound session, with the 56,000 level sustained as critical support, and is awaiting the Fed’s outcome to trigger a fresh directional move in the coming days. As said earlier, the index needs a decent revival to break past the vital hurdle at the 57,400 zone to trigger a fresh upward move in the coming days. In contrast, the 50-DEMA level near the 56,000 zone continues to act as an essential support zone, which needs to be sustained to maintain the bias intact,” said Parekh.
Parekh said the Nifty 50 index’s immediate support is 24,700, while the resistance is 25,000. The Bank Nifty’s daily range is 55,700 to 56,800.
Vaishali Parekh’s stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: VETO, FACT, and Havells India.
1] VETO: Buy at ₹127, Target ₹135, Stop Loss ₹123;
2] FACT: Buy at ₹965, Target ₹1000, Stop Loss ₹950; and
3] Havells India: Buy at ₹1525, Target ₹1585, Stop Loss ₹1500.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
