Buy or sell stocks: The benchmark indices of the Indian stock market began the session on a weak footing and remained under pressure throughout the weekly expiry, as lacklustre Q1 results 2025 from IT majors triggered a sharp sell-off in the sector, weighing on overall sentiment. Caution also prevailed before next week’s U.S. Federal Reserve policy decision, likely to steer global market direction. The Sensex dropped 542.47 points, or 0.66%, to close at 82,184.17, while the Nifty fell 157.80 points, or 0.63%, settling at 25,062.10.
Sector-wise, PSU Banks, Healthcare, and Pharma outperformed in positive territory, bucking the broader downtrend. In contrast, heavy selling was seen across most other sectors, with the IT index sliding over 2%, leading the losses. Broader markets also came under selling pressure, with the Nifty Midcap index down 0.58% and the Small-cap index shedding 1.09%, indicating a weak undertone across segments.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is sideways to positive. The Nifty 50 index is sustaining above the 50-DEMA support of 24,900, while the key benchmark index faces resistance at 25,250.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index once again found resistance near the hurdle of 25,250 zone and witnessed profit booking to slip towards the 25,000 zone to indicate a tight rangebound movement between 25,000 and 25,250 level for quite some time, with overall bias maintained positive. As mentioned earlier, we continue to maintain our stance, would need a decisive breach above the 25,250 to 25,300 zone to continue with the positive movement further ahead and expect the next targets of 25,500 and 25,700 levels in the coming days, provided the crucial support zone of 24,900 level is sustained as of now.”
“The Bank Nifty index continues to move within a tight range, having the tough resistance barrier near the 57,300 zone, which needs to be breached decisively and expect further upward movement in the coming days. On the downside, the 50-DEMA zone at the 56,000 level shall be an important and crucial support which needs to be sustained to maintain the overall bias and sentiment intact,” said Parekh.
Parekh said that the immediate support for the Nifty 50 index is at 24,900, while the resistance is at 25,300. The Bank Nifty would have a daily range of 56,500 to 57,600.
Vaishali Parekh’s stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks: Bandhan Bank, REC, and Hubtown.
1] Bandhan Bank: Buy at ₹184, Target ₹190, Stop Loss ₹180;
2] REC: Buy at ₹405.50, Target ₹412, Stop Loss ₹398; and
3] Hubtown: Buy at ₹305, Target ₹325, Stop Loss ₹295.
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
