Buy or sell: Vaishali Parekh recommends three stocks to buy today — 8 April 2025

Buy or sell stocks: Following weak global market sentiments on Donald Trump's tariffs, the Indian stock market witnessed exceptional volatility on Monday. The Nifty 50 index opened with a dramatic 5% gap down, marking the steepest opening decline since March 23, 2020. However, the frontline index demonstrated remarkable resilience at the day's low and finished 742 points or 3.24% lower at 22,161. The BSE Sensex ended 2,226 points lower at 73,137. The Bank Nifty index lost 1,642 points and closed at 49,860. The broad market also experienced Black Monday as the BSE Small-cap index crashed 4.13%, while the Mid-cap index nosedived 3.46%. The Indian volatility index VIX skyrocketed over 65% and finished at 22.79.

Stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market is under the grip of bears as the Nifty 50 index slipped below 22,000 levels after the huge 5% gap down opening on Black Monday. The Prabhudas Lilladher expert said the frontline index may try to test 21,400 and 21,100 levels if the panic selling pressure continues on Dalal Street.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index, with a huge gap down below the 22,000 zones, demoralised the sentiments. With the bears taking charge, the overall bias has turned bearish, with downside targets of 21,400 and 21,100 levels wide open for the coming sessions. The index would need to stage a significant pullback to move past the 22,800 zone to restore the conviction and clarity for further upward movement."

"The Bank Nifty index tanked in the opening session below the 49,500 zone and, with weak bias, ended near 49,900 levels awaiting the RBI policy outcome in a couple of days. The index would have crucial and important support near the 47,900 level and, on the upside, need to cross the important 200 period MA at the 51,000 level to regain the bias and anticipate a further rise thereafter. One can stay cautious as of now and wait for things to settle down and establish some clarity and conviction," said Parekh.

Parekh said that support for Nifty today is 21,900, while the resistance is 22,300. The Bank Nifty would have a daily range of 49,000 to 50,700.

Vaishali Parekh's stock picks for Tuesday

Regarding stocks to buy today, Vaishali Parekh recommended these three buy or sell stocks: GMR Airports, Delhivery, and Archean Chemical Industries.

1] GMR Airports: Buy at ₹82.20, target ₹86, stop loss ₹80;

2] Delhivery: Buy at ₹268.35, target ₹280, stop loss ₹262; and

3] Archean Chemical Industries: Buy at ₹529, target ₹560, stop loss ₹515.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.