Market Expert Vaishali Parekh Recommends 3 Stocks to Buy Despite Rising Geopolitical Concerns
India’s Stock Market Holds Steady Despite Border Tensions
Despite the escalating tensions between India and Pakistan following Operation Sindoor, the Indian stock market showed resilience on Wednesday. The Nifty 50 index edged up by 34 points, closing at 24,414, while the BSE Sensex gained 105 points to finish at 80,746. The Bank Nifty also saw a positive performance, rising 339 points to close at 54,610.
Market Sectors and Trends
Several sectors witnessed positive movement, with Nifty Auto, Consumer Durables, and Realty leading the gains. However, Nifty FMCG, Healthcare, and Pharma ended the day in the red. The mid-cap and small-cap segments also rebounded strongly after a dip the previous day, indicating renewed investor confidence.
Vaishali Parekh’s Cautious Outlook
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the market sentiment remains cautiously positive. She highlights the Nifty 50 index’s strength above the crucial support level of 24,300. Parekh advises viewing any dips as buying opportunities until the Nifty 50 stays above the 200-DEMA support at 24,050.
She notes that the index is “precariously placed” and the sentiment is cautious due to the ongoing border tensions. Parekh also points to the Bank Nifty index’s volatility
Stock recommendations today:
1] Zen Tech: Buy at ₹1384, Target ₹1420, Stop Loss ₹1350;
2] Dredging Corporation of India: Buy at ₹569, Target ₹600, Stop Loss ₹550; and
3] Shriram Finance: Buy at ₹637, Target ₹665, Stop Loss ₹622.
