Vaishali Parekh suggests three stocks for purchase today, April 4, 2025

Purchase or sell: Vaishali Parekh suggests BHEL, IOB, and Max Healthcare Institute as three stocks to purchase today.

Purchase or sell stocks: The Indian stock market opened Thursday’s trading session lower against the backdrop of US President Donald Trump’s tariffs. But in the first half of the trading session, the Indian indices showed incredible resilience, swiftly recovering the majority of their losses. At 23,250, the Nifty 50 index closed 82 points lower, the BSE Sensex closed 322 points lower at 76,295, and the Bank Nifty index closed 249 points higher at 51,597. In comparison to the previous day, the NSE cash market volumes grew by 13%.

IT, Auto, and Metals suffered the biggest losses, while Pharma, Healthcare, and PSU Banks performed the best sectorally. The mid- and small-cap indices kept beating the overall market. Despite starting the day lower, the Nifty Midcap 100 recovered well and ended the day 0.21% higher. The Nifty Small Cap 100 ended the day with a 0.58% gain after rising sharply from its intraday lows. With the BSE advance-decline ratio at 2.40, market breadth stayed positive for the third day in a row.

Today’s stock market

According to Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, the Nifty 50 index saw a respectable retreat from the 50-DEMA support at 23,150, indicating that the positive bias on Dalal Street is still present. According to the Prabhudas Lilladher expert, the Nifty is currently facing a barrier at 23,800. Only when hurdle or support zones are broken, she said, can a bullish or bearish trend be presumed.

“The Nifty 50 index saw a respectable recovery from the 50-DEMA support zone of 23,150 to maintain the bias intact and can anticipate further upward movement provided the near-term support of 23,100 is sustained in the coming sessions,” Vaishali Parekh said when discussing the Nifty 50’s outlook today. The index has demonstrated resilience, and we can obtain clarification and validation for additional directional movements during the next two to three sessions. For a new upward move, the index with a psychological base close to the 23,000 zone would have to cross over to the 23,800 zone.

With the majority of PSU banks backing the frontline banking stocks to anticipate further increases in the upcoming sessions, the Bank Nifty index, which shows strength, saw another pullback from 51,000 and gained momentum to close close to the 51,600 zone. As previously stated, the index would have the 50-DEMA zone’s significant near-term support at 49,750. On the upside, a clear break above the 52,000 zone would initiate a new upward move in the days ahead, according to Parekh.

According to Parekh, the Nifty’s current support is at 23,100, and its resistance is at 23,400. The daily range of the Bank Nifty would be between 51,200 and 52,000.

Today’s stock recommendations from Vaishali Parekh

Vaishali Parekh suggested the following three stocks for purchase or sale today: BHEL, IOB, and Max Healthcare Institute.