Buy or sell stocks: Following the tariff uncertainty after the imposition of a 25% tariff on imports from Canada and Mexico and a cumulative 20% tariff on China by the US administration, the Indian stock market extended its losing spree for the tenth straight session. The Nifty 50 index fell for the tenth consecutive session, the longest losing run in 29 years, decreasing by 36 points or 0.17%, to close at 22,082. Out of the last 19 trading sessions, the 50-stock index ended positive in only one session. The BSE Sensex slipped below 73,000 and closed at 72,989. However, the Bank Nifty index ended higher by 130 points at 48,245.

Stock market today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the overall Indian stock market mood is bearish as the Nifty 50 index is still below 22,300. However, Prabhudas Lilladher said the 50-stock index regaining the psychological 22,000 mark after slipping below this level is a good sign, but any positive conviction can be made only when the Nifty 50 index decisively breaks above the 22,500 mark.

Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index, after opening on a weak note below the 22,000 zone, recovered to touch the 22,100 level with improvement visible from the broader markets as well with pullback visible from their lower ends to improve the sentiment to some extent. As mentioned earlier, the index is precariously placed, and a decisive breach below the 22,000 level shall trigger a further slide in the coming days. A decisive move above the 22,500 zone is much needed to establish conviction and expect stability in the coming sessions.”

“The Bank Nifty index, once again, maintained the support zone near 47,900 levels and witnessed a short pullback to end the session near the 48,250 level with bias maintained and would need a decisive move past the 49,200 zone to establish conviction and expect further rise in the coming days. At the same time, a decisive breach below the 47,900 zone would further weaken the trend and can trigger a fresh slide thereafter,” said Parekh.

Parekh added that today, support for the Nifty is 21,900, while resistance is 22,300. The Bank Nifty would have a daily range of 47,800 to 48,800.

Vaishali Parekh’s stock recommendations

Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: Crompton Greaves, Aditya Birla Capital, and Torrent Power.

1] Crompton Greaves: Buy at ₹330, target ₹350, stop loss ₹320;

2] Aditya Birla Capital: Buy at ₹155, target ₹165, stop loss ₹150; and

3] Torrent Power: Buy at ₹1272, target ₹1300, 1260.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.