Stock market today: Vaishali Parekh of Prabhudas Lilladher believes the Indian stock market's undertone is cautious, as the Nifty 50 index needs to sustain above 23,700 to hold the support amid weak global sentiment following the escalation in the US-Iran war.(Photo: Courtesy Prabhudas Lilladher)AI Quick ReadBuy or sell stocks, 13 April 2026: After clocking an impressive about 6% gain last week, the Indian stock market benchmarks- the Sensex and the Nifty 50- started the week with deep cuts, falling over 2% in morning trade on Monday, April 13.
The Sensex crashed over 1600 points, or more than 2%, to an intraday low of 75,937, while the NSE benchmark Nifty 50 plunged 500 points, or 2%, to the day's low of 23,556.
The selloff engulfed all segments of the market, as the Nifty Midcap 100 and Smallcap 100 indices also plunged more than 2% each.
Investors lost about ₹8 lakh crore within minutes as the overall market capitalisation of BSE-listed firms was at ₹443 lakh crore around 9:20 am compared to ₹451 lakh crore in the previous session.
The Gift Nifty index is down by over 350 points during the early morning trading on Monday. This signals a big gap-down opening on Dalal Street. According to experts, this weak opening can be attributed to the escalation of the US-Iran war following the failure of ceasefire negotiations in Islamabad over the weekend.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market's undertone is cautious, as the Nifty 50 index needs to sustain above 23,700 to hold the support amid weak global sentiment following the escalation in the US-Iran war.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said the Indian stock market is in a negative bias after the US government announced a Strait of Hormuz blockade following the failure of ceasefire talks in Islamabad. However, it would be important for the Nifty 50 index to sustain above 23,700. If the 50-stock index ends above 23,800 on Monday, then bulls may have a sigh of relief, and they may respond strongly and give a befitting reply to bears in the coming sessions.
“The Nifty 50 index would need to stabilise and sustain above the 23800 zone as of now to establish conviction and clarity for further positive moves in the coming days, and at the same time, on the downside, would need to sustain the near-term support of the 23,400 zone as of now,” said Parekh.
On the outlook for the Bank Nifty index, Parekh said the index witnessed a strong bounce back after a gap-up opening session, ending near the 56,000 zone, with bias and sentiment slightly easing out but still maintaining a cautious approach as of now.
“The index would have the important resistance zone near the 57,000 level, which needs to be breached decisively above, while at the same time, it would need to sustain the 53,500 level positioned as the important support zone from the current zone,” said Vaishali Parekh of Prabhudas Lilladher.
Regarding stocks to buy today, Vaishali Parekh recommended these three intraday stocks to buy or sell for intraday trading: ONB, ONGC, and BSE.
1] PNB: Sell at ₹110, Target ₹100, Stop Loss ₹115;
2] ONGC: Buy at ₹290, Target ₹305, Stop Loss ₹285; and
3] BSE: Buy at ₹3273, Target ₹3500, Stop Loss ₹3200.
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.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
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While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
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Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
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Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).