The Indian stock market ended the week on a cautious note, extending their recent corrective phase as concerns over global interest rates, geopolitical uncertainty, and volatility surrounding the new Closing Auction Session weighed on investor sentiment. According to reports from Live Mint, although markets recovered sharply on Friday, supported by strong buying in IT stocks following upbeat global technology cues, the benchmark indices remained under pressure for the third consecutive week.
For the week, the Nifty 50 index declined around 0.31% to close at 24,175.65, while the Sensex fell nearly 0.36% to settle at 77,264.51. In contrast, the broader market remained relatively resilient, with the Midcap and Smallcap indices gaining around 0.52% and 0.51% respectively. As reported by Live Mint, this performance reflects the mixed sentiment across different market segments during the volatile trading period.
Sumeet Bagadia, Executive Director at Choice Broking, believes Indian stock market sentiment is cautious to positive as long as the Nifty 50 index trades above 23,900. According to reports from Live Mint, he said that Nifty has an existing base at the 50-DEMA level (24,050) and the next strong base is in the 23,850-23,900 range. The Choice Broking expert predicted sharp selling pressure if the 50-stock index breaks decisively below 23,800.
Regarding stocks to buy on Monday, Sumeet Bagadia recommended three shares with specific entry points and targets. TCS is recommended as a buy at ₹2,342 with a target of ₹2,570 and stop loss at ₹2,240. Axis Bank is suggested as a buy at ₹1,265 with a target of ₹1,350 and stop loss at ₹1,208. Bajaj Auto is recommended as a buy at ₹11,910 with a target of ₹12,770 and stop loss at ₹11,300. As reported by Live Mint, these recommendations reflect different technical setups across various sectors.
