By soumyaranjanb447 
Vaishali Parekh suggests three stocks for purchase today: Genus Power, IRB Infrastructure, and GNFC.
Buy or sell stocks: Fears over the economic effects of US President Donald Trump’s impending reciprocal tariffs, which are set to take effect on April 2, 2025, caused the Indian stock market to start the new fiscal year 2025–2026 with a steep decline as major indices fell by almost 2%. The BSE Sensex plunged 1390 points and ended the day at 76,024, the Nifty 50 index plummeted 353 points and ended the day at 23,165, and the Bank Nifty index plummeted 737 points and ended the day at 50,827.
On the first day of FY26, smaller stocks performed better than the major benchmark indices. Four days later, there were more rising shares than falling ones, and the BSE’s advance-decline ratio was at two, the highest level since March 21, 2025.
Today’s stock market
Given that the Nifty 50 index has doubled in value at 23,850, Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, thinks the Indian stock market is in a cautious mood. The Nifty 50 index is near the 50-DEMA support level, which is at 23,120, according to Prabhudas Lilladher, and a break below this level would indicate increased selling pressure.
“The Nifty 50 index has shown a double top formation on the daily chart at 23,850 zones and with some profit booking witnessed has slipped down taking support near the important 50-DEMA zone at 23,120 level during the intraday session,” Vaishali Parekh said when discussing the Nifty 50’s outlook for today. The index’s psychological base would be close to the 23,000 zones, and the pivotal support would be at or near the 22,800, which must be maintained or else the trend would revert to weakness.
The bias has been somewhat weakened as the Bank Nifty index has slipped below the 200 period MA at 51,000 after encountering resistance close to the 52,000 zone and profit booking. The 50-DEMA zone of 49,750 would provide significant short-term support for the index, which must be maintained to keep the overall bias intact. Although profit booking has caused the frontline banking stocks, such as HDFC Bank and ICICI Bank, to take a break and slightly decline, Parekh stated that the overall bias has remained intact.
According to Parekh, the resistance is 23,400 and the support is 23,000 for the day. The daily range of the Bank Nifty would be between 50,400 and 51,300.
Vaishali Parekh’s Wednesday stock recommendations
Vaishali Parekh suggested GNFC, IRB Infrastructure, and Genus Power Infrastructures as the three stocks to buy or sell today.
1] GNFC: Buy at ₹275, target ₹290, stop loss ₹268;
2] IRB Infrastructure: Buy at ₹46, target ₹49, stop loss ₹44.50; and
3] Genus Power: Buy at ₹278, target ₹310, stop loss ₹265.