Vaishali Parekh recommends three stocks to buy today

Indian stock markets ended marginally lower on Wednesday amid mixed global cues and cautious investor sentiment. The Nifty 50 slipped 7 points to close at 23,907, while the Sensex declined 141 points to settle at 75,867. Bank Nifty underperformed, losing 239 points to end at 54,853 as profit booking emerged in banking and financial counters.

Sector-wise action remained mixed. Energy, metal and auto stocks witnessed selective buying, while private banks and financial stocks continued to face pressure. The broader market showed resilience, with the midcap index advancing nearly 0.4%, whereas the smallcap index ended largely unchanged, indicating stock-specific participation.

Gift Nifty is indicating a weak start for Dalal Street today and is trading around 35 points below the previous Nifty close. Market participants will closely watch the crucial 23,800 support zone, which continues to act as the immediate trend-deciding level.

According to technical analysts, Nifty remains trapped in the 23,850–24,000 consolidation band. A sustained move above 24,000 could trigger fresh momentum toward 24,200 and 24,400 levels, while failure to hold 23,800 may invite renewed selling pressure.

Bank Nifty remains comparatively weak and is struggling near its 50-day EMA resistance. The index needs to defend the 54,100 support zone to avoid a deeper correction toward 52,800. For today’s session, traders may expect Bank Nifty to remain within the 54,000–55,500 range.