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Buy or sell stocks, 11 May 2026: Amid weak global cues and renewed geopolitical concerns, the key benchmark indices of the Indian stock market remianed under pressure throughout the Friday session and finished lower. The Nifty 50 index finished 150 points lower at 24,176. The BSE Sensex crashed 516 points and closed at 77,328. The Bank Nifty index nosedived 736 points, closing at 55,310.
The weakness was largely led by banking and financial stocks, while IT and pharma showed relative resilience. Broader markets, however, outperformed the benchmarks, with midcap and smallcap indices ending flat to marginally positive, reflecting continued stock-specific interest.
The Gift Nifty Live Chart is signalling a gap-down opening as the index is trading red, losing around 190 points. The index opened lower at 24,217, and touched an intraday low of 24,051. By 7:00 AM, the index is trading around 190 points lower at 24,052.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is cautiously positive. However, Prabhudas Lilladher predicted a gap-down opening on Dalal Street, as the Gift Nifty index is trading red, down over 190 points in the early morning session.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said the index once again faced a tough hurdle in the 24,300-24350 zone and witnessed profit booking, slipping to end near 24,170, with the bias still cautiously positive.
“The Nifty 50 index is hovering near the 50-EMA level at the 24,200 zone, which would need to sustain above the near-term support of the 24,000 level as mentioned earlier, while the important support zone is positioned near the 23,800 level, which needs to be sustained as of now to maintain the overall bias intact,” said Parekh.
On the outlook of the Bank Nifty today, the Prabhudas Lilladher expert said the index witnessed a weak session, sliding down on the back of poor SBI results, which dragged the index to close near the 55,300 level, with bias currently maintained with a cautious approach, having the important near-term support at the 54400 level, as mentioned earlier.
“The Bank Nifty index would have the major and crucial support positioned near the 53500 level, which needs to be sustained to maintain the overall trend intact, whereas, on the upside, as mentioned, the 200-period MA at the 57,200 level would be the important hurdle which needs to be breached above decisively to establish conviction further ahead,” said Parekh.
Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: Morepen Laboratories, Reliance, and AU Small Finance Bank.
1] Morepen Laboratories: Buy at ₹45.70, Target ₹48, Stop Loss ₹44;
2] Reliance: Buy at ₹1340, Target ₹1380, Stop Loss ₹1325; and
3] AU Small Finance Bank: Buy at ₹1050, Target ₹1070, Stop Loss ₹1035.
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. <br><br> 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. <br><br> 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. <br><br> 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).
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