Stocks to buy: Sumeet Bagadia's top 3 stock recommendations — Sun Pharma, IndiGo, Infosys | Target price, stop-loss
Stock market prediction: Sumeet Bagadia believes the immediate upside on Dalal Street is capped as the Nifty 50 index is yet to reclaim its 50-day EMA near 23,160
Stocks to buy | Sumeet Bagadia's stock recommendations: The key benchmark indices of the Indian stock market ended the week on a firmer footing, with the Nifty rising 2% to 23,053.10 and the Sensex gaining 1.8% to 74,459.53. Buying in IT, healthcare and select financial stocks underpinned the recovery, although the Bank Nifty lagged, advancing just 0.6%. Institutional flows were also encouraging, with FIIs recording net purchases of ₹6,304.67 crore in the cash market during the week, while DIIs were net buyers of ₹3,109.79 crore.
The return of foreign buying is a constructive signal, but a single week of inflows is not enough to reverse the broader selling trend seen in October. The focus now shifts to a series of global and domestic indicators that could shape risk appetite and foreign capital flows. Geopolitical tensions and elevated crude oil prices remain a key source of uncertainty for India, given the potential implications for corporate costs, inflation and the external balance.
Stock market outlook by Sumeet Bagadia Sumeet Bagadia, Executive Director at Choice Broking, believes the immediate upside on Dalal Street is capped as the Nifty 50 index is yet to reclaim its 50-day EMA near 23,160. The Choice Broking expert said that Immediate support for Nifty is placed at 22,800–22,900, while 23,150–23,200 remains the crucial resistance zone. Sharing his views on the Nifty 50 index, Sumeet Bagadia of Choice Broking said the Nifty 50 ended higher at 23,053.10, gaining 116.35 points (+0.51%), recovering from an early dip to 22,905.10 and advancing to an intraday high of 23,118.10.
The bullish daily candle reflects buying interest at lower levels, with the rising hourly trendline continuing to offer support. However, the index is yet to reclaim its 50-day EMA near 23,160, keeping the immediate upside capped. “Immediate support is placed at 22,800–22,900, while 23,150–23,200 remains the crucial resistance zone. RSI improved to 53.50, above its average of 45.97, indicating strengthening short-term momentum.
PCR at 1.24 suggests a positive derivatives setup, although India VIX edged higher to 15.30. On the weekly chart, Nifty continues to consolidate above the 200-week EMA, with 22,200–22,500 remaining an important medium-term support base. A sustained move above the 50-day EMA would be essential to strengthen the recovery,” Bagadia said. On the outlook for the Bank Nifty index, the Choice Broking expert said the setup for the key benchmark index remains weak, as it trades below its 20-day EMA near 54,968 and 50-day EMA around 55,646, both of which act as significant resistance levels.
Immediate support is seen around 54,500–54,600, followed by the recent low zone, while a sustained recovery above 55,000 would be needed to improve sentiment. RSI stands at 44.97, marginally above its average of 44.23, suggesting a slight improvement in momentum; however, the broader bias remains cautious until the index reclaims its key moving averages. Shares to buy | Sumeet Bagadia's stock recommendations today
Regarding stocks to buy on Monday, Sumeet Bagadia recommended these three shares: Sun Pharma, IndiGo, and Infosys. 1] Sun Pharma: Buy at ₹1778 | Target ₹1985 | Stop Loss ₹1690. Sun Pharma share is showing signs of strength after taking support at its 100-week EMA, which continues to act as an important dynamic support level. On the weekly chart, the stock has been moving within a sideways consolidation range and has recently closed above the previous week's high with noticeable volume.
This price action indicates improving buying participation and a possible shift towards the next upward move. 2] IndiGo: Buy at ₹4878 | Target ₹5370 | Stop Loss ₹4635. IndiGo share is showing a noticeable improvement in price action on the daily chart. The stock has formed a strong bullish candle accompanied by increasing trading volume, suggesting fresh buying interest at current levels. It has also managed to sustain and close above both the 20-Day and 50-Day EMAs, indicating a recovery in its short-term trend and improving price strength.
3] Infosys: Buy at ₹1185 | Target ₹1300 | Stop Loss ₹113235. Infosys share is showing early signs of a bullish reversal on the weekly chart, with a potential Double Bottom pattern taking shape. The stock has also managed to sustain and close above its 20-week EMA, indicating improved short-term price strength. Adding to the positive setup, the weekly MACD has given a bullish crossover, suggesting that momentum is gradually shifting in favour of buyers.
The combination of a developing reversal pattern, support above the 20-week EMA and improving MACD momentum points towards a constructive technical outlook.
