Buy or sell: Vaishali Parekh recommends three intraday stocks for today — 11 March 2025

Buy or sell stocks: After showing a range-bound action with a positive bias in the last couple of sessions, the Indian stock market slipped into weakness on Monday and closed lower. The Nifty 50 index ended 92 points lower at 22,460, the BSE Sensex shed 217 points and closed at 74,115, while the Bank Nifty index finished 280 points lower at 48,216. Except for Nifty FMCG, all the sectoral indices closed in negative territory. The Realty, Oil & Gas, PSU Banks, and Consumer Durables sectors bore the brunt of the selling pressure, experiencing the most substantial losses.

Cash market volumes on the NSE were lower by 5% compared to yesterday, the weakest since 25-Feb-2025. Following last week’s rebound, the mid and smallcap segments experienced significant profit-taking. The Nifty Midcap 100 Index declined by 1.53%, while the Nifty Smallcap 100 Index saw a sharper drop of 1.97%. After three consecutive sessions of advances exceeding declines, the market breadth turned negative, with the BSE advance-decline ratio registering 0.42.

Stock market today

Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes that overall Indian stock market sentiment has turned weak after the Nifty 50 index fell below 22,550 on a closing basis. The Prabhudas Lilladher expert said that the Nifty needs to break above 22,700 on a closing basis to establish a positive conviction. However, breaking below 22,000 would mean a fresh and intensified bear trend on Dalal Street.

Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index, after witnessing a positive start, was subjected to profit booking after finding resistance near the 22,650 zone and slipped down to end in the red near 22,450 level with bias and sentiment weakening, the index is once again precariously placed with 22,000 zone as the important and crucial support on the downside. A move past 22,700 is necessary to improve the bias, and only a decisive breach above 23,000 shall establish conviction for further rise ahead.”

“The Bank Nifty index once again slipped down with profit booking seen forming a lower top pattern on the daily chart and further ahead, has the crucial support zone of 47,800 levels which needs to be sustained, failing which, can trigger for fresh intensified selling pressure with 46,000 as the next support level. On the upside, as mentioned earlier, a decisive breach above the 50EMA zone of 49500 levels would be needed to improve the bias, and thereafter, we expect a further rise in the coming days,” Parekh added.

Vaishali Parekh of Prabhudas Lilladher said that today, support for the Nifty is placed at 22,300, while resistance is at 22,700. The Bank Nifty would have a daily range of 47,800 to 48,700.

Vaishali Parekh’s stock recommendations today

Regarding intraday stocks for today, Vaishali Parekh recommended these three buy or sell stocks: JSW Energy, BSE, and Schaeffler India.

1] JSW Energy: Buy at ₹505, target ₹540, stop loss ₹490;

2] BSE: Sell at ₹4016, target ₹3800, stop loss ₹4130; and

3] Schaeffler India: Buy at ₹3286, target ₹3550, stop loss ₹3200.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.