Buy or sell stocks, 16 April 2026: Following strong global cues on the renewed hope of a ceasefire in the US-Iran war, the key benchmark indices of the witnessed strong buying on Wednesday. The Nifty 50 index shot up 388 points and closed at 24,231. The BSE Sensex skyrocketed 1,263 points and closed at 78,111. The Bank Nifty index gained 696 points and closed at 56,30.
The rally was broad-based, with all major sectors trading in the green—led by IT, realty, and energy. Broader markets outperformed once again, with midcap and smallcap indices advancing by more than 2%, reflecting strong risk-on sentiment and improved market breadth.
What Gift Nifty signals?
The Gift Nifty Live Chart is signalling a positive start to the Indian stock market today, with the index trading around 0.50% above yesterday’s close.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes Dalal Street may open with a gap-up today, as the Figt Nifty live chart is trading around 0.35% above its previous close. The Prabhudas Lilladher expert said the Indian stock market’s undertone is positive, following positive global cues amid renewed hopes for US-Iran ceasefire talks.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the 50-stock index witnessed a big gap up opening near the 24,150 zone and moved past the important 50-EMA at 24200 level to further improve the bias and ended the session on a positive note with 24,300 zone as the important hurdle which needs to be breached decisively further to establish conviction and clarity in the coming days.
“The ongoing geopolitical tensions remain a cause of concern, which has not been completely de-escalated, thereby volatility and fluctuations anticipated with 23,000 and 22,150 levels continue to be positioned as the important and crucial support zone,” Parekh added.
On the outlook for the Bank Nifty today, Parekh said the index opened on a positive note near the 56,350 level, above the important 50-EMA at 56,200, easing sentiment to some extent, and amid volatility, closed near the 56,300 level, with bias slowly and steadily improving.
“The sentiment still would be maintained with a cautious approach since the threat from the Middle East geopolitical tensions is still not completely eradicated, and hence, the index would need to sustain the 53,500-level, which is positioned as the important near-term support zone to maintain the bias intact,” she added.
Vaishali Parekh’s stock recommendations for today
Regarding , Vaishali Parekh recommended these three intraday stocks to for intraday trading: RVNL, SRF, and PCBL.
1] RVNL: Buy at ₹287, Target ₹303, Stop Loss ₹280;
2] SRF: Buy at ₹2500, Target ₹2600, Stop Loss ₹2455; and
3] PCBL: Buy at ₹280, Target ₹297, Stop Loss ₹274.
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