Vaishali Parekh: 3 Stock Picks for 15 May 2026
Indian Stock Market Expected to Open on a Positive Note
The key benchmark indices of the Indian stock market are expected to open on a positive note today, supported by firm global cues and improving risk sentiment across international markets. Gift Nifty indicates a strong opening setup, following global equities' continued bullish momentum overnight.
Global Markets See Record-Breaking Sessions
Wall Street witnessed another record-breaking session, with the Dow Jones rallying more than 350 points to reclaim the historic 50,000 mark for the first time since February. The rally was largely driven by strong corporate earnings, especially from Cisco, which boosted confidence around the resilience of the global technology and enterprise spending cycle.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Asian Markets Also Trade Firmly in the Green
Asian markets are also trading firmly in the green. Japan's Nikkei surged more than 400 points, while South Korea's Kospi touched fresh record highs, reflecting improving investor confidence across regional markets. Optimism surrounding the ongoing Trump-Xi summit in Beijing is currently acting as a major global catalyst. Markets are interpreting the recent diplomatic tone as constructive, with both sides emphasizing economic cooperation and stability despite ongoing geopolitical friction points.
Stock Market Outlook
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Gift Nifty live chart is signalling a gap-up opening on Dalal Street, but the Nifty 50 index is facing resistance at 23,800. On a decisive close above the 23,800 levels, one can expect the 50-stock index to approach 24,100.
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Nifty 50 Index Outlook
| Level | Resistance | Support |
|---|---|---|
| 23,800 | 24,100 | 23,000-23,200 |
The Nifty 50 index witnessed a bounce back from the 23,250 zone, with a bullish candle pattern on the daily chart, indicating an optimistic close near the 23,700 level to ease sentiment and anticipate a further rise in the coming days.
Bank Nifty Index Outlook
| Level | Resistance | Support |
|---|---|---|
| 54,000 | 55,700-56,000 | 53,000 |
The Bank Nifty index indicated a strong bullish candle formation on the daily chart after a 4-session downward move, with a DOJI in the last session, to witness a rally above 54,000. The index would have near-term support near the 53,000 zone, which needs to be sustained. On the upside, it can expect a target of 55,700 to 56,000 in the coming days.
Stock Recommendations
Vaishali Parekh recommended the following three buy-or-sell stocks:
- Sterlite Technologies: Buy at ₹405, Target ₹430, Stop Loss ₹390
- ICICI Bank: Buy at ₹1248, Target ₹1280, Stop Loss ₹1225
- SML Mahindra: Buy at ₹3660, Target ₹3800, Stop Loss ₹3620
Investor Takeaway
Investors should consider buying stocks in the Indian market, driven by firm global cues and improving risk sentiment.
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