The Indian stock market closed the week with solid gains as buying interest in IT, healthcare and selected financial stocks lifted benchmark indices. The Nifty 50 advanced 2% to 23,053.10, while the Sensex climbed 1.8% to finish at 74,459.53. However, the Bank Nifty underperformed, rising only 0.6%.
Foreign institutional investors (FIIs) returned as net buyers, purchasing shares worth ₹6,304.67 crore in the cash market. Domestic institutional investors (DIIs) also maintained their buying activity, with net purchases of ₹3,109.79 crore. Although these inflows supported market sentiment, investors will continue watching global developments, geopolitical tensions and crude oil prices for further direction.
Nifty 50 Outlook for Next Week
Sumeet Bagadia, Executive Director at Choice Broking, expects the Nifty 50 to face resistance near its 50-day exponential moving average (EMA), currently around 23,160.
The index closed at 23,053.10, gaining 116.35 points or 0.51% in the latest session. It recovered from an intraday low of 22,905.10 and touched a high of 23,118.10, indicating buying interest at lower levels.
According to Bagadia, the immediate support zone stands at 22,800–22,900, while 23,150–23,200 is the key resistance range.
The RSI improved to 53.50, above its average of 45.97, suggesting stronger short-term momentum. Meanwhile, the Put-Call Ratio (PCR) of 1.24 points towards a relatively positive derivatives setup. However, India VIX increased slightly to 15.30, indicating some rise in market volatility.
On the weekly chart, the Nifty continues to trade above its 200-week EMA. The 22,200–22,500 range remains an important medium-term support area. A sustained move above the 50-day EMA could strengthen the recovery.
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Bank Nifty Outlook for Next Week
The Bank Nifty chart continues to show signs of weakness, according to Bagadia. The index is trading below its 20-day EMA near 54,968 and 50-day EMA around 55,646. These moving averages are likely to act as important resistance levels.
The immediate support range is 54,500–54,600, followed by the recent swing-low zone. A sustained recovery above 55,000 would help improve market sentiment.
The RSI stands at 44.97, slightly above its average of 44.23. This indicates a modest improvement in momentum, although the overall outlook remains cautious until the index moves above its key moving averages.
3 Stocks to Buy Under ₹100: Sumeet Bagadia’s Recommendations
For investors tracking shares below ₹100, Bagadia has identified three stocks: SJVN, NHPC and Bank of Maharashtra.
| Stock | Suggested Entry | Target Price | Stop-Loss |
|---|---|---|---|
| SJVN | ₹53.39 | ₹58.59 | ₹50.40 |
| NHPC | ₹77.74 | ₹85.00 | ₹73.80 |
| Bank of Maharashtra | ₹81.36 | ₹89.00 | ₹77.00 |
These levels represent the analyst’s recommendations reported in the source material. Actual market prices may change, and investors should assess their risk tolerance before making any investment decision.
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Disclaimer: This article is for informational and educational purposes only. It is not investment advice or a recommendation to buy or sell securities. Please consult a SEBI-registered financial adviser before investing.
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