Prabhudas Lilladher's Parekh Sees Flat India Open, Names Three Stocks
Vaishali Parekh of Prabhudas Lilladher anticipates a flat opening for India's stock market on Thursday, 13 August 2026. This outlook stems from the Gift Nifty index oscillating near its prior day's close. Parekh also provided key support and resistance levels for the Nifty 50 and Bank Nifty indices.
India Market Outlook
Prabhudas Lilladher's Vaishali Parekh expects a flat opening for India's stock market on Thursday, 13 August 2026. The Gift Nifty live index demonstrates this trend, hovering near the Nifty spot close from the previous day. Gift Nifty futures, trading just above 24,400, also point to a muted start. This occurs despite a broader rebound observed across global markets. The Nifty's previous close stood at 24,435, and the Gift Nifty's position suggests caution.
Nifty 50 and Bank Nifty Levels
Parekh noted the Nifty 50 index saw some volatility on 13 August. It hit a low near the 24,265 zone early, then recovered to close above 24,400. She stated the index needs to hold the 24,350 support level for a positive outlook. A decisive move above the 200-period moving average (MA) at 24,700 is required for a breakout.
The Bank Nifty index demonstrated a positive move post-lunch on 13 August. It rose from its 50-period exponential moving average (EMA) at 57,150 to close near 57,900. Parekh advised that Bank Nifty must breach the 58,600 resistance. The 100-period MA at 56,000 provides a major support level, crucial for maintaining the trend.
Intraday Stock Recommendations
For intraday trading on 13 August, Parekh recommended three specific stocks. These include Rain Industries, with a suggested buy price of ₹209.35, targeting ₹220, and a stop loss at ₹206. Indus Towers received a buy recommendation at ₹383.40, targeting ₹405, with a stop loss at ₹376.
State Bank of India (SBI) was the third pick, with a buy price of ₹1082, a target of ₹1125, and a stop loss at ₹1060. These recommendations are for educational purposes only, as stated by Prabhudas Lilladher.
Indian market participants will watch these technical levels closely. Nifty 50's ability to hold 24,350 will shape near-term sentiment. A Bank Nifty breach of 58,600 could signal further upside for financial stocks. Intraday traders assessing these specific stock calls will monitor price movements relative to the suggested levels.
The broader market direction will influence short-term trading strategies across Asian equity markets, particularly for those with exposure to India.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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