The Indian stock market witnessed a strong recovery last week after eight consecutive weeks of decline. According to reports from Live Mint, the Nifty 50 index ended 2.8% higher, while the BSE Sensex gained 2,250 points during the week. The Bank Nifty index gained 1.06% and finished at 55,844. IT sector led the gains with a 3.92% rise, while Media, Cement, Auto, Metal and PSU Bank also advanced. Among individual stocks, Tata Elxsi emerged as the top performer with nearly 23% weekly gains, followed by Gallantt Ispat at 21% and 63 Moons Technologies at 20%.
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market bias has improved with visible buying at lower levels. As reported by Live Mint, the Nifty 50 closed at 23,146.15, gaining 148.80 points (+0.65%) after recovering from an early decline. The RSI improved to 52.81, well above its average of 34.70, indicating strengthening bullish momentum. Immediate support is placed at 22,900–22,980, while resistance is seen at 23,250–23,300. The PCR at 1.08 reflects a mildly positive derivatives setup, while India VIX remained steady at 14.0250.
The Bank Nifty index ended nearly flat at 55,844.00, up 33.50 points (+0.06%) as the initial gap-up failed to translate into a strong directional move. According to Live Mint, after early volatility, the index remained largely range-bound, indicating consolidation following its recent recovery. Immediate support is placed at 55,400–55,500, with resistance around 56,000–56,100. The RSI stands at 51.91, above its average of 40.51, suggesting improving momentum despite limited price progress. The Bank Nifty needs a decisive breakout above resistance to strengthen the bullish outlook.
Sumeet Bagadia from Choice Broking has recommended three stocks under ₹100 for investment. As reported by Live Mint, the recommendations include IRFC at ₹80.25 with a target of ₹89 and stop loss at ₹76, Motherson Sumi Wiring India at ₹35.44 with a target of ₹38 and stop loss at ₹34, and Lloyds Engineering Works at ₹96.37 with a target of ₹108 and stop loss at ₹90.50.
