Nifty Signals Caution: Vaishali Parekh's Top Intraday Stock Picks for May 13, 2026

Indian Stock Market Expected to Witness Relatively Flat Start

The Indian stock market is likely to begin the day with a relatively flat start, with the Gift Nifty opening near the 23,391 zone, following two consecutive heavy selloff sessions. However, despite indications of a stable opening, the overall sentiment remains fragile due to global risk factors and elevated volatility keeping traders cautious.

Global markets remained under pressure overnight, with the S&P 500 slipping amid weakness in technology stocks and rising oil prices after the US inflation print for April came in hotter than expected. Asian markets also opened broadly weak, with South Korea's Kospi declining by more than 2.2% and Japan's Nikkei falling by more than 220 points, as investors reacted to renewed geopolitical tensions surrounding Iran and closely monitored developments from the Trump-Xi meeting.

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the Indian stock market sentiment is cautious. She notes that the key index is precariously placed at an immediate support of 23,000, with failing to sustain above this support potentially intensifying the selling pressure in the Indian stock market.

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The Nifty 50, as predicted by Parekh, crashed below the important 23,500 zone, indicating a big bearish candle on the daily chart and a weak trend, anticipating a further slide in the coming sessions. The 50-stock index breaching the important support zone at the 23,800 level has triggered sentiment to turn very cautious, with the levels of 23,000 and 22,200 wide open for the coming days.

On the outlook of the Bank Nifty, Parekh noted that the index tanked heavily to slide further down to break the important support zone of 54,400 level to arrive near the major and crucial support zone of 53,500 level, with the trend getting weak and expecting further downward movement in the coming sessions. The Bank Nifty index would have the downside targets of 51,800 and the 50,000 levels as the important zone to be watched for in the coming days.

Parekh has recommended the following intraday stocks for today:

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• Axis Bank: Sell at ₹1263, Target ₹1235, Stop Loss ₹1278
• DLF: Sell at ₹570, Target ₹540, Stop Loss ₹585
• PNB: Sell at ₹103, Target ₹98, Stop Loss ₹106