5 days ago
Vaishali Parekh Recommends Three Stocks Amid Cautious Market Outlook
India’s stock market was expected to start the day higher.
This expectation came from the Gift Nifty, which was trading above its earlier level.
However, investors were still worried about geopolitical and economic uncertainties.
They might therefore choose stocks carefully and sell some holdings after prices rise.
Analyst Vaishali Parekh said the Nifty 50 needed to stay above important support levels.
She identified resistance near 24,400 for the Nifty 50.
She also said Bank Nifty needed to move decisively outside its current range.
For intraday trading, she recommended Pine Labs, Adani Enterprises, and NCC with specific price targets and stop-loss limits.
Indian benchmark indices were expected to open cautiously higher on 28 August 2026, supported by a strong Gift Nifty reading.
Gift Nifty traded more than 60 points above its previous close and over 150 points above the prior spot Nifty 50 close.
Vaishali Parekh identified 24,400 as Nifty 50 resistance and 23,800 as crucial support, with 24,000 also described as near-term support.
Parekh said Bank Nifty remained range-bound between 58,000 and the 57,200 50-EMA, with resistance near 58,500 and major support around 56,000.
Her intraday buy recommendations were Pine Labs, Adani Enterprises, and NCC, each with specified targets and stop-loss levels.
- Who
- Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, and Indian stock-market investors.
- What
- Parekh forecast a cautious but positive market opening and recommended buying Pine Labs, Adani Enterprises, and NCC for intraday trading.
- Where
- The Indian stock market, including the Nifty 50 and Bank Nifty.
- When
- 28 August 2026.
- Why
- Gift Nifty was trading higher, but geopolitical and macroeconomic uncertainties were expected to limit risk appetite and encourage selective buying.
Cautious Market View
Positive Market View
Near-term direction
Cautious Market View
Geopolitical and macroeconomic uncertainties, weak recent sessions, and possible profit-booking could limit gains.
Positive Market View
Gift Nifty was trading significantly above the previous spot Nifty 50 close, suggesting a possible gap-up opening.
Nifty 50 outlook
Cautious Market View
The index had slipped below its 50-EMA near 24,200, and broader-market participation was described as passive.
Positive Market View
A sustained move above the 24,400 resistance zone could support further upward movement.
Bank Nifty outlook
Cautious Market View
Bank Nifty remained stagnant within a tight range and lacked a decisive directional move.
Positive Market View
A decisive break above the 58,500 resistance level could establish stronger upward conviction.
Key facts
- Market opening
- Indian benchmark indices were expected to begin cautiously higher.
- Gift Nifty
- It traded more than 60 points above its previous close and more than 150 points above the prior spot Nifty 50 close.
- Nifty 50 resistance
- 24,400 was identified as the key resistance zone.
- Nifty 50 support
- 23,800 was described as crucial support, while 24,000 was cited as important near-term support.
- Bank Nifty range
- The index was described as being between 58,000 and its 50-EMA near 57,200.
- Pine Labs recommendation
- Buy at ₹169; target ₹178; stop loss ₹165.
- Adani Enterprises recommendation
- Buy at ₹3,169; target ₹3,300; stop loss ₹3,100.
- NCC recommendation
- Buy at ₹150; target ₹160; stop loss ₹145.
Quotes
Vaishali Parekh
Vice President — Technical Research at Prabhudas Lilladher
“The Nifty 50 index would continue to have the important resistance hurdle of the 24,400 zone, only above which one can expect further upward move in the coming days. The 23800 zone shall be the important and crucial support area which needs to be sustained to maintain the overall trend intact.”
livemint.com
“The Bank Nifty index would need a decisive breakthrough above the tough resistance hurdle of the 5,8500 zone to establish conviction. The important and major support would be positioned near the 100-period MA at the 56,000 level, which needs to be sustained to maintain the trend intact.”
livemint.com
Sources
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