Buy or sell: Vaishali Parekh recommends three stocks to buy today — 3 March 2025 | Stock Market News
Buy or sell: After trading sideways to negative for seven straight sessions, the Indian stock market witnessed a bloodbath during the Friday session. The Nifty 50 index crashed 420 points or 1.86 per cent — the steepest single-session decline since October 3, 2024, in percentage terms — and closed at 22,124. The BSE Sensex nosedived over 1400 points and closed at 73,198, while the Bank Nifty index tanked 399 points and finished at 48,344. Selling in the broad market was more extensive as the BSE Small-cap index crashed over 2.30 per cent, while the Mid-cap index nosedived over 2.15 per cent.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is bearish as the Nifty 50 index has broken below 22,300 support on a closing basis. The Prabhudas Lilladher expert said the frontline index has the following crucial support placed at the 21,200 mark, which means if the sentiments on Dalal Street continue to remain bearish, there is still the possibility of the following 900 points fall in the key benchmark index.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index crashed with heavy profit booking witnessed after the huge gap down opening below the 22500 zone and has decisively breached below the 22300 zone with a huge bearish candle on the daily chart with sentiment and bias precariously placed. The index has weakened the trend overall, with downside targets now open and the next major support zone positioned near the 21200 level of the base of the descending channel.”
“The Bank Nifty index breached below the 48500 zone with profit booking seen but showed some resilience compared to the Nifty index with major and crucial support lying near the 47900 zone. The bias overall is maintained with a very cautious approach. A decisive move below the 47900 level would open the gates for further slide with targets of 46800 and 46100 levels expected,” said Parekh.
Vaishali Parekh said the Nifty 50 index’s support is 22,000, while the resistance is 22,400. The Bank Nifty would have a daily range of 48,000 to 49,000.
Vaishali Parekh recommended stocks to buy today
Regarding shares to buy today, Vaishali Parekh recommended these three buy or sell stocks: Shriram Finance, NCC, and Protean eGov Technologies.
1] Shriram Finance: Buy at ₹616, target ₹630, stop loss ₹595;
2] NCC: Buy at ₹175, target ₹185, stop loss ₹170; and
3] Protean eGov Technologies: Buy at ₹1313, target ₹1400, stop loss ₹1280.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
