Best Intraday Stocks to buy – Vaishali Parekh

Pullback Seen, But Conviction Still Missing

After heavy selling pressure in the first half, Indian markets staged a sharp recovery in the latter part of Monday’s session, indicating selective buying at lower levels.

Nifty rebounded strongly from its intraday low of 22,955 to close at 23,408 (+257 points).
Sensex surged 938 points to settle at 75,502, while Bank Nifty gained 655 points to close at 54,413.

Sectorally, Auto and Financials led the recovery, gaining over 1%, whereas Oil & Gas and Realty remained under pressure, declining more than 1.5%.

Nifty Outlook – Relief Bounce, Not a Reversal Yet

According to Vaishali Parekh, the undertone of the market remains cautious despite the sharp pullback.

The late-session recovery has provided temporary relief, but sustained strength is required for trend confirmation.

Key Levels to Watch
• Immediate Support: 23,000
• Crucial Breakout Level: 24,400

Nifty needs to sustain above 24,400 to establish bullish conviction. Until then, the broader sentiment remains weak, and rallies may face selling pressure.

Bank Nifty Outlook – Resilience Seen, But Long Way Ahead

Bank Nifty showed strength near its crucial support zone of 53,300–53,500, followed by a sharp recovery towards 54,400.

Key Levels to Watch
• Support: 53,300
• Major Breakout Level: 56,500

The index needs to cross 56,500 decisively to confirm strength. Until then, the structure remains range-bound with a cautious bias.

Chanakya Take
This is a technical pullback driven by value buying, not a confirmed trend reversal.

• Bias remains weak
• Key resistances still far
• Strategy: Stay cautious, wait for breakout confirmation

Markets have bounced — but conviction is still missing.