Buy or sell stocks: After declining with range-bound action in the previous session, the Indian stock market continued to show weakness and finished lower on Thursday. The Nifty 50 index corrected 120 points and closed at 25,355, the BSE Sensex lost 345 points and ended at 83,190, whereas the Bank Nifty index ended 157 points lower at 56,956.
The broader markets also reflected weakness, as the Nifty Midcap100 and Smallcap100 indices fell 0.3% each. Sectoral performance was mixed, with the Nifty IT index down 0.8% as IT stocks slipped ahead of Tata Consultancy Services’ (TCS) Q1FY26 results.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has turned from cautious to optimistic as the Nifty 50 index is sustaining above the crucial support placed at 25,300 to 25,250. The Prabhudas Lilladher expert said the key benchmark index is facing a hurdle at 25,550. On breaching above this resistance, we can expect the 50-stock index to touch 25,700 and 26,200 soon.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index witnessed some profit booking during the session to slip gradually as the day progressed and closed in the red near the 25,350 zone with overall bias and sentiment still maintained intact. Volatility can be expected in the coming sessions with the index having important support positioned near the 25,250-25,300 zone, which needs to be sustained. On the upside, a decisive breach is necessary above the 25,650 zone, which shall trigger a fresh upward move having higher targets of 25,700 and 26,200 levels in the coming days.”
“The Bank Nifty index erased some gains as the day proceeded further and ended the session just below the 57000 zone with consolidation visible near the 57,000 zone with positive bias. The index would need to have a decisive breach above the resistance level of 57600, which, when confirmed, shall trigger further rise, thereafter, expecting fresh targets of 58,500 and 60,000 levels in the coming days. As mentioned earlier, the index would continue to have the 56,000 zone as the important and crucial support, which needs to be sustained as of now,” said Parekh.
Parekh said that immediate support for Nifty today is placed at 25,200, while the resistance is at 25,500. The Bank Nifty would have the daily range of 56,500 to 57,600.
Vaishali Parekh’s stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: JSW Energy, Sagility India, and UTI AMC.
1] JSW Energy: Buy at ₹530, Target ₹550, Stop Loss ₹520;
2] Sagility India: Buy at ₹44, Target ₹48, Stop Loss ₹42; and
3] UTI AMC: Buy at ₹1396, Target ₹1500, Stop Loss ₹1330.
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.
