Buy or sell stocks: The Indian stock market witnessed a sell-off session as escalating US-Iran war in the Middle East triggered a surge in global crude oil prices and heightened uncertainty across financial markets. The spike in crude oil price above $100 per barrel raised fresh macroeconomic concerns for India, a major oil-importing economy, prompting broad-based selling across benchmark indices.
Volatility surged alongside the decline, reflecting rising investor anxiety. India VIX jumped to 23.59, up more than 70% in a week as geopolitical risks intensified. Such a sharp rise in volatility signals elevated uncertainty and typically results in inflated options premiums. In such conditions, derivatives traders tend to adopt a cautious approach, as any sudden de-escalation in geopolitical tensions could quickly push volatility lower and compress option premiums sharply.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladdher, believes the undertone of the Indian stock market has turned weak. The Prabhudas Lilladdher expert said the Nifty 50 index may continue to fall and touch 22,000 if the US-Iran conflict doesn’t end soon.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the Nifty 50 index witnessed another big gap down opening to create a big void, hitting the low at the 23,700 zone, with escalations continuing in the Middle East geopolitical tensions, with the trend getting weaker and sentiment getting much more nervous as of now.
“With the scenario getting worse, the index can retest the previous bottom made near the 22,000 zone unless there is fresh news of easing out of the tensions, which can trigger a quick revival in the index. The index needs to move past the important barrier of the 24,400 zone to improve the bias from the current rate,” Parekh said.
On the outlook of the Bank Nifty today, the Prabhudas Lilladher expert said the Bank Nifty index witnessed another major gap down opening, breaking below the base of the rising channel pattern at 56,500 zone to weaken the trend overall and with the bias maintained weak, we can expect for further downward movement having 53,500 zone as the major and crucial support zone for the index.
“On the upside, the index would need to move past the 200-period MA at the 57,500 level to improve the bias and thereafter, expect a further rise sustaining the bias with clarity and stability established,” Parekh added.
Vaishali Parekh’s stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks for intraday trading: Paytm, Aurobindo Pharma, and DCX System.
1] Paytm: Buy at ₹1038, Target ₹1080, Stop Loss ₹1015;
2] Aurobindo Pharma: Buy at ₹1247, Target ₹1300, Stop Loss ₹1220; and
3] DCX System: Buy at ₹196, Target ₹207, Stop Loss ₹191.
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.
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