Stock market today: Vaishali Parekh of 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.(Photo: Courtesy Prabhudas Lilladher)AI Quick ReadBuy 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 Indian stock market 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.
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.
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.
Regarding stocks to buy today, Vaishali Parekh recommended these three intraday stocks to buy or sell 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.
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.
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.
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.
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).