Buy or sell: Vaishali Parekh recommends three stocks to buy today — 12 March 2025

Buy or sell stocks: Following weak global market sentiments, the Indian stock market opened downside on Tuesday but witnessed a strong recovery from the lower levels and ended flat. Among key benchmark indices, the Nifty 50 index added 37 points and closed at 22,497, the BSE Sensex ended marginally lower at 74,102, while the Bank Nifty index finished points lower at 47,853. IndusInd Bank experienced a massive sell-off, with its shares plummeting 27% to a 52-week low. This sharp decline was triggered by the bank’s disclosure of discrepancies in its derivatives accounting, raising concerns among investors and analysts.

The Nifty Midcap Index demonstrated notable resilience, rebounding sharply from early morning lows to close at 0.67%. In contrast, despite an intraday recovery exceeding 1%, the Nifty Smallcap Index ended the day with losses of 0.8%. Declining shares outnumbered the advancing ones for the second day, with the BSE advance-decline ratio at 0.60. Cash market volumes on the NSE were higher by 10% compared to Monday.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes overall Indian stock market sentiment has improved as the Nifty 50 index bounced back strongly from the lower support zone and finished at around 22,500 levels. Prabhudas Lilladher said the Nifty 50 index may touch 22,800 as the 50-stock index has made a strong base at 22,000.

Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index, after opening on a weak note, recovered significantly with participation from the broader markets as well to end near the 22,500 zone with sentiment slightly easing out and can anticipate for further rise till 22,800 levels in the coming sessions. The index would have the crucial and important support zone of 22,000 level as of now, which needs to be sustained and on the upside; as mentioned earlier, only a decisive breach above the 23,000 level shall establish conviction to expect further rise ahead.”

“The Bank Nifty, on the back of Indusind Bank carnage, lost momentum, losing 360 points, but managed to sustain above the crucial support zone near 47800 levels with hopes remaining alive for recovery in the coming sessions. As mentioned earlier, the index would need a decisive breach above the 50EMA zone of 49500 levels to improve the bias and expect a further rise in the coming days. Individual banking stocks like ICICI Bank, HDFC Bank, Axis Bank and Kotak Bank have maintained their positive bias and can expect further upward moves in the coming days,” said Parekh.

Vaishali Parekh of Prabhudas Lilladher said that Nifty’s support today is 22,300, while the resistance is 22,700. The Bank Nifty would have a daily range of 47,500 to 48,400.

Vaishali Parekh’s stock recommendations today

Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: NCC, CG Power, and IOC.

1] NCC: Buy at ₹184, target ₹200, stop loss ₹178;

2] CG Power: Buy at ₹608, target ₹630, stop loss ₹590; and

3] IOC: Buy at ₹124, target ₹130, stop loss ₹120.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.