Best Intraday Stocks to buy – Vaishali Parekh

The Indian stock market continued to trade with a cautious and selective undertone amid mixed global cues. While the finalisation of the India–EU Free Trade Agreement offered some support to sentiment, risk appetite remained subdued due to renewed tariff-related concerns and persistent selling by foreign portfolio investors. Muted Q3 earnings growth also limited any meaningful upside in domestic equities.

With global uncertainties still looming, markets largely stayed range-bound as investors adopted a wait-and-watch approach ahead of the Union Budget. Focus remains firmly on clarity around taxation, fiscal discipline and the government’s capital-expenditure roadmap, which are expected to guide near-term market direction.

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According to Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher, market sentiment remains highly cautious despite the Nifty 50 slipping below the 25,000 mark intraday and subsequently reclaiming it. The index managed to close above the 200-DEMA near the 25,100–25,175 zone, which has provided some technical relief. However, a decisive close above 25,500 is essential to restore bullish conviction.

Parekh noted that the Nifty witnessed heightened volatility on the F&O expiry day, slipping to around 24,950 before recovering in the latter half of the session. The broader bias continues to remain cautious, with strong psychological support placed near 25,000, while clarity on the trend will emerge only above the 25,500 resistance zone.

On the Bank Nifty, Parekh highlighted a sharp recovery, with the index forming a strong green candle and closing above the key 50-EMA near the 59,200 level. This move has eased near-term pressure, though sustainability will depend on a decisive breakout above the 59,500 zone. Immediate support is seen at 58,300, with major support placed near the 200-period moving average around 56,600.

For the day, immediate support for the Nifty 50 is placed near 25,000, while resistance is seen around 25,400. The Bank Nifty is expected to trade in a range of 58,700–59,800.