Nifty Signals Muted Opening, Expert Recommends Three Stocks for Buying

Indian Stock Market Ends Flat as Nifty 50 Index Takes Breather

The Indian stock market saw a volatile session on Thursday, ending flat as the index took a breather after the recent rebound. The Nifty 50 index lost 34 points and closed at 24,196, while the BSE Sensex lost 122 points and finished at 77,988. The Bank Nifty index finished 215 points lower at 56,086.

Sectorally, the trend remained mixed with metals, IT, and energy stocks supporting the index, while banking and auto stocks witnessed some pressure. Broader markets continued to outperform, with midcap and smallcap indices gaining around 0.6–1%, reflecting sustained positive market breadth.

Market Outlook Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market bias is cautiously positive. The Nifty 50 index is facing a hurdle at 24,300, and the 50-stock index needs to close above this level to strengthen the bulls' conviction in the fresh uptrend.

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The Gift Nifty live chart is trading flat and signalling a muted opening for the Indian stock market. The Index is trading red at around 24,150.

Stock Recommendations Vaishali Parekh has recommended three intraday stocks to buy or sell for intraday trading:

According to Parekh, the Nifty 50 index would have the 24,300 zone as the important hurdle which needs to be breached decisively further to establish conviction in the coming days. On the downside, the near-term support would be positioned near the 23,800 level while the next major support would be near 23,200 as per the gap theory.

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On the outlook of the Bank Nifty, Parekh said the index once again opened near the 56,800 zone, where it found resistance and, with heavy profit booking, slipped down to close near the 56,000 zone with bias maintained with a cautious approach. The Bank Nifty index would need to sustain the 53,500-level, which is positioned as the important support zone to maintain the bias intact.