Buy or sell: Vaishali Parekh recommends three stocks to buy today — 6 March 2025

Buy or sell stocks: Following a substantial uptick in US futures and easing oil prices, the Indian stock market snapped its 10-day losing streak on Wednesday. The Nifty 50 index skyrocketed 254 points and closed at 22,337, the BSE Sensex surged 740 points and closed at 73,730, while the Bank Nifty index went up 244 points and closed at 48,489. Mid-cap and smallcap indices gained alongside benchmark indices, with the Nifty Midcap 100 index surging 2.42% and the Nifty Smallcap 100 Index ending the day with remarkable gains of 3%. 

Advancing stocks overwhelmingly outnumbered declining ones, with the advance-decline ratio on the BSE reaching 4.24 levels—the highest since April 1, 2024. A sea of green swept across all major indices, with Metal, Media, PSU banks, and Auto sectors leading the gains. Bharti Airtel Ltd. was the top contributor to index gains, increasing 2.7%, while Adani Ports & Special Economic Zone Ltd. saw the most significant increase, rising 5.2%.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the overall Indian stock market sentiment has improved after the strong bounce back by frontline and other indices. The Prabhudas Lilleher expert said the Nifty 50 index has closed above the 22,300 mark, which is a good signal for bulls. However, she said it was not sought to establish a positive conviction. Parekh said the Nifty 50 has to close above 22,500 to assume a possible bull trend on Dalal Street.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index, after a long streak of losing sessions, finally indicated a strong pullback with a huge bullish candle formation to close above the 22,300 zone with bias and sentiment improving and as mentioned earlier, a decisive breach above 22,500 level shall establish conviction and thereafter, can expect for stability in the coming sessions. Active participation from the broader markets has eased out the pessimism to some extent, which can trigger further upward movement of the indices.”

“The Bank Nifty index, taking support near the 47900 zone, has recovered to cross above the 48500 zone during the intraday session and can expect further rise with an initial target of 49600 level expected in the coming sessions. With the bias maintained intact till now, the crucial zone of the 47900 level needs to be sustained to anticipate further recovery on the index,” said Parekh.

Parekh added that today, the Nifty’s support is at 22,200, while the resistance is at 22,600. The Bank Nifty’s daily range is 48,000 to 49,000.

Vaishali Parekh’s stock recommendations today

Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: IRFC, SAIL, and Union Bank of India.

1] IRFC: Buy at ₹117.70, target ₹125, stop loss ₹114;

2] SAIL: Buy at ₹112.50, target ₹118, stop loss ₹110; and

3] Union Bank of India: Buy at ₹115.90, target ₹123, stop loss ₹112.

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.