Vaishali Parekh's Top Stock Picks: 3 Buys to Consider on May 18, 2026

Indian Stock Market to Begin Week on Cautious Note

The Indian stock market is expected to start the new trading week with a cautious to bearish sentiment, as the Gift Nifty index is trading around the 23,525 zone, more than 175 points below Friday's Nifty spot close of 23,643. This decline is largely due to weak cues from broader Asian markets and rising geopolitical uncertainty.

Global risk appetite has weakened sharply after fresh escalation fears emerged in the Middle East. U.S. President Donald Trump's warning urging Iran to "get moving, FAST" has once again revived concerns around a possible disruption in global crude oil supply routes, particularly around the Strait of Hormuz. As a result, Asian markets opened broadly lower, with South Korea's Kospi declining more than 3% while Japan's Nikkei slipped over 200 points.

For Indian markets, the biggest concern continues to be elevated crude oil prices and currency pressure. Any further escalation in geopolitical tensions could push oil prices higher again, increasing the risk of imported inflation for an oil-dependent economy like India. This also keeps pressure on the Indian rupee and overall market sentiment.

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Market Outlook

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher, believes the Gift Nifty live chart is signalling a gap-down opening on Dalal Street, as the Gift Nifty live chart is trading more than 175 points below Friday's Nifty spot close. She said the key benchmark index would have the near-term support around the 23,200 zone, which needs to be sustained to maintain the overall bias intact.

According to Parekh, the Nifty 50 index would have the near-term support around the 23,200 zone, which needs to be sustained to maintain the overall bias intact, whereas on the upside, the 24,300 band shall be the tough resistance hurdle, which needs to be breached decisively to establish conviction and clarity. On the outlook for the Bank Nifty today, Parekh said the index is consolidating and would need a significant revival to move past the 50-EMA at 55,600 to improve the bias and establish conviction for a further upward move in the coming days.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Stock Recommendations

Vaishali Parekh has recommended the following stocks for buy or sell: