Best Intraday Stocks to buy – Vaishali Parekh

Market View by Vaishali Parekh | Prabhudas Lilladher

Indian equity markets came under sharp selling pressure on Thursday, weighed down by weak global sentiment amid renewed fears of a trade war and fresh concerns over U.S. tariffs. The sell-off was broad-based, with benchmark indices closing near the day’s lows.

The Nifty 50 slipped below the crucial 26,000 mark and ended at 25,876, down nearly 263 points intraday. The BSE Sensex remained under pressure throughout the session and closed 780 points lower at 84,180. Bank Nifty also declined by 304 points to settle at 59,686. Broader markets bore the brunt of selling, with the S&P BSE Small-Cap Index falling 1.97% and the Mid-Cap Index down over 1.99%.

Sector-wise, heavy selling was seen across power and energy, CPSE, infrastructure, metals, oil & gas and IT stocks. PSU stocks also remained under strong selling pressure, reflecting heightened risk aversion across the market.

Stock Market Outlook

According to Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher, the near-term bias in the Indian stock market has turned weak as the Nifty 50 has closed below its key 50-day EMA support.

Parekh noted that the Nifty has decisively broken the crucial support zone of 25,900, which has dented sentiment. The index is now approaching a stronger base near the 100-period moving average placed around 25,530. On the daily chart, a large bearish candle has formed, and the index has also slipped below an important trendline near 25,900, indicating sustained selling pressure. Technically, Nifty would need to hold above the 25,700 zone—its recent swing low—to avoid further downside.

On Bank Nifty, Parekh said the index witnessed profit booking during the session, leading to a weaker bias. However, compared to the Nifty, Bank Nifty has shown relative resilience with limited losses. The index must sustain above the important 50-day EMA support near 58,800. With the earnings season underway, the next few sessions are expected to be volatile and decisive for the near-term trend.

Nifty 50

• Immediate Support: 25,700

• Resistance: 26,100

Bank Nifty

• Expected Range: 59,200 – 60,200