Buy or sell: Vaishali Parekh recommends three stocks to buy today despite Trump tariff tension
Buy or sell: Vaishali Parekh recommends three stocks to buy today — ABFRL, Devyani International, ITC
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Buy or sell stocks: The key benchmark indices of the Indian stock market closed sharply lower on Tuesday, August 26, amid intense selloff pressure across key sectors, with bears firmly in control of Dalal Street. Geopolitical jitters triggered the sharp correction after a draft proposal surfaced indicating former US President Donald Trump intent to impose a steep 50% tariff on Indian imports. The Nifty 50 plummeted 255 points, or 1.02%, to settle at 24,712.05, reflecting broad-based weakness.
Sectoral breadth was profoundly negative, with Realty, PSU Banks, Pharma, and Small Caps leading the laggards. Midcap and Energy counters also witnessed profit-booking, shedding over a per cent each. Metals, Infra, Oil & Gas, and Private Banking names traded in the red, mirroring the broader downtrend. Conversely, FMCG stocks bucked the trend, emerging as the lone sectoral gainer with a solid uptick of around 1%, signalling a flight to defensives. Auto stocks failed to hold ground and closed lower, dragged by persistent selling pressure. Market volatility spiked, with the India VIX climbing over 3%, signalling heightened risk aversion and caution among market participants.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has weakened as the Nifty 50 index has slipped below the 50-DEMA support placed at 24,850. The immediate support for the key benchmark index has now shifted to 24,500, the 50-stock index that may try to test after the imposition of 50% Trump tariffs on India, which will take effect after the end of the deadline given by the US administration.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index once again plunged heavily with a bearish candle formation on the daily chart to slip below the important 50-DEMA at 24,850 zone to weaken the bias and await further developments and global cues with respect to tariff rates, which shall shape the future directional move of the indices. As mentioned earlier, technically, the index would have the crucial and major support zone near the 24,500 level, which needs to be sustained to maintain the overall trend intact. On the upside, a decisive move above the 25,000 zone is needed to revive the overall sentiment."
2025-08-28
By
Anushka Tripathi
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