In a notable turn of events, investor sentiment in the Indian stock market has started to stabilize following the announcement of a ceasefire between India and Pakistan. Amid this atmosphere of cautious optimism, Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, has identified three promising stocks for investors to consider: Protean eGov Technologies, MMTC, and GRSE.
The Indian stock market faced turbulent sessions last week, reflecting the heightened geopolitical tensions. On Friday, the Nifty 50 dropped 265 points to close at 24,008, while the BSE Sensex witnessed a steep fall of 880 points, its sharpest drop since April 7, ending the day at 79,454. However, with the ceasefire now in place, a sense of relief is beginning to seep back into the market.
Vaishali Parekh shared her technical insights, noting that the Nifty 50 has found new support at 23,800. She stated that although the index had dipped below its critical 200-period moving average at 24,050, a rebound above the 24,400 mark would be necessary for a clearer bullish signal. Until then, the market remains in a sensitive zone, and traders should proceed with caution.
Bank Nifty, too, showed signs of weakness, closing at 53,600 after a drop of 770 points. It slipped below the important support level of 54,000 and is now expected to test 52,000 in the near term. The trading range for the day is likely to be between 53,400 and 54,600.
In the midst of this volatility, Parekh has recommended three specific stocks for investors looking for buying opportunities. Protean eGov Technologies is suggested at ₹1269 with a target of ₹1320 and a stop loss of ₹1230. MMTC is advised at ₹52 with a target of ₹56 and a stop loss of ₹50. Meanwhile, GRSE is recommended at ₹1799 with a target of ₹1900 and a stop loss of ₹1730.
These recommendations come at a time when investors are navigating uncertain waters. The India-Pakistan ceasefire brings a ray of hope not just for regional peace but also for market stability. Analysts suggest that if the ceasefire holds, we may see a renewed upward trend in the markets as confidence rebuilds.
As always, investors are encouraged to consult certified financial advisors before making any investment decisions. While expert recommendations provide useful guidance, individual risk tolerance and financial goals should remain the primary focus.