Best Intraday Stocks to buy – Vaishali Parekh

Market View by Vaishali Parekh | Prabhudas Lilladher

The Indian equity market ended lower for the fourth consecutive session on Monday as year-end caution, low participation and broad-based profit-booking weighed on sentiment.

The Nifty 50 slipped 100 points to close at 25,942, while the BSE Sensex declined 345 points to end at 84,695. The Bank Nifty also closed marginally lower by 79 points at 58,932. Weakness extended to the derivatives segment, with Nifty 50 Futures settling 104 points lower at 25,955.

Sectorally, performance remained mixed. The Media index outperformed with gains of 0.75%, while the Consumer index bore the brunt of selling pressure, falling nearly 1%. Risk-off sentiment was visible across asset classes, with bullion and cryptocurrencies also witnessing sharp profit-booking.

On the commodities front, MCX Gold corrected sharply by around Rs. 5,000 to close at Rs. 1,34,887 per 10 gm. MCX Silver finished Rs. 529 lower at Rs. 2,23,900 per kg, sharply off its intraday peak of Rs. 2,54,174. In the digital asset space, Bitcoin slipped by nearly Rs. 55,000, closing at Rs. 78,35,321, reflecting global risk aversion.

According to Vaishali Parekh, market sentiment has weakened marginally after participatory selling, with the Nifty slipping below the psychologically important 26,000 mark and moving closer to its key 50-day EMA support at 25,850. For bullish momentum to revive, the index must decisively close above 26,250.

Commenting on the Nifty outlook, Parekh noted that the index continues to extend losses amid subdued year-end activity and broader market profit-booking. While the 25,850–25,800 zone remains a crucial support area, a breakout above 26,250 is essential to trigger fresh upside.

On the Bank Nifty, Parekh said the index remains in a prolonged consolidation phase due to sluggish participation from banking stocks. Strong support continues near 58,700, while a decisive breakout above 59,800 is required to initiate a fresh upward move.

Technically, immediate levels to watch are:

• Nifty 50: Support at 25,800 | Resistance at 26,200

• Bank Nifty: Expected daily range of 58,600–59,400