Buy or sell stocks, 29 May 2026: Following mixed global cues, the key benchmark indices of the finished on a subdued note on Wednesday. The Nifty 50 index ended marginally lower at 23,907. The BSE Sensex finished 0141 points lower at 75,867. The Bank Nifty index corrected 239 points and closed at 54,853.
Sectoral participation remained mixed, with energy, metals, and auto stocks performing well, while financials and private banking counters traded under pressure. Broader markets also displayed a mixed trend, with the midcap index gaining around 0.4%, whereas the smallcap index settled largely flat, indicating continued selective participation beyond frontline stocks.
What does the Gift Nifty Live Chart signal?
The is signalling a gap-down opening on Dalal Street. The index is trading red, down over 35 points from the spot Nifty close on Wednesday.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Gift Nifty live chart is signalling a gap-down opening for the Indian stock market as the index is trading around 35 points below the spot Nifty close on Wednesday. She said the Nifty 50 index needs to sustain above 23,800 to keep the bullish sentiments intact.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The key index witnessed consolidation in the 23850–24000 zone, with a narrow rangebound session, closing on a flat note, with bias and sentiment maintained positive, with a slightly cautious approach.”
The Prabhudas Lilladher expert said the Nifty 50 index would need to sustain itself above the near-term support at 23,800, while the important support zone is positioned near 23,800, which needs to be sustained as of now. On the upside, a breach above the 24,000 level shall trigger the next higher targets of 24,200 and 24,400 levels in the coming days.
On the outlook for the Bank Nifty today, Parekh said, the benchmark index continued to trade weak during the session, witnessing steady profit booking near the 50-EMA level of 55,221 in the morning session, and closed near the lower end in the 54,800 zone, with bias and sentiment maintained in a cautious approach.
“The Bank Nifty index would have the crucial 54100 zone, which is the GAP area, and would need to sustain it to avoid any fresh trigger of selling pressure with the next major support positioned near the 52800 zone. The support for the day is at 23700, while the resistance is at 24100. BankNifty would have the daily range of 54000-55500 levels,” said Parekh.
Vaishali Parekh’s stock recommendations for today
Regarding , Vaishali Parekh recommended these three buy-or-sell stocks: GMR Power, Pine Labs, and BF Utilities.
1] GMR Power: Buy at ₹108, Target ₹118, Stop Loss ₹104;
2] Pine Labs: Buy at ₹145, Target ₹155, Stop Loss ₹140; and
3] BF Utilities: Buy at ₹570, Target ₹600, Stop Loss ₹560.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.