The Indian stock market experienced a day of slight gains amidst a highly fluctuating trading session last Friday. The Nifty 50 index edged up by 12 points, closing at 24,346, while the BSE Sensex surged by 259 points, finishing at 80,501. The Bank Nifty also saw an uptick, rising 28 points to reach 55,115. Despite the positive trend in some sectors, including media, energy, IT, and oil & gas, which recorded gains between 0.3% and 0.7%, others like power, metal, telecom, pharma, realty, and consumer durables faced declines ranging from 0.5% to 2%.
Market Trends and Predictions
According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market is currently trading within the range of 24,200 to 24,600. A significant trend—whether bullish or bearish—could emerge once the market breaches either end of this range. With the Q4 results for 2025 underway, Bagadia suggests focusing on stocks that exhibit strength in their chart patterns.
Stock Recommendations for the Upcoming Week
Bagadia has identified three stocks that investors should consider buying or selling next week:
1. Adani Ports
- Current Price: ₹1,267.10
- Target Price: ₹1,400
- Stop Loss: ₹1,200
Adani Ports is currently experiencing a notable recovery after a significant drop of nearly 37% from its peak. The stock is forming a bullish Rounding Bottom pattern on the daily chart, suggesting a potential upward reversal. As trading volumes increase, confirming the recovery, a move above ₹1,300 is essential to solidify the breakout, potentially driving the price toward the ₹1,400 target.
- RSI: 64.04, indicating improving bullish momentum.
- Moving Averages: The stock is above all major EMAs, reinforcing the trend’s strength.
2. Indian Oil Corporation (IOC)
- Current Price: ₹143.28
- Target Price: ₹160
- Stop Loss: ₹135
IOC is showing strong bullish signals with a significant candle formation on the daily chart, indicating a reversal from lower levels. As it breaks out from its recent consolidation, the stock is also exhibiting a Rounding Bottom pattern.
- Volume Trends: Increased trading volumes add credibility to the breakout attempt.
- RSI: 69.73, pointing to strengthening momentum.
A decisive move above ₹145 could propel IOC toward the ₹160 target in the near future.
3. Godrej Properties
- Current Price: ₹2,249.30
- Target Price: ₹2,540
- Stop Loss: ₹2,120
Godrej Properties is presenting robust bullish signals, forming a classic double-bottom pattern on the weekly chart. It’s on the verge of breaking out from an Ascending Triangle pattern, supported by increasing volumes that indicate strong accumulation.
- RSI: 57, reflecting increased buying interest.
- Support Level: ₹2,200, which provides a good buy-on-dips opportunity.
A sustained move above ₹2,270 could trigger a rally toward resistance levels at ₹2,450 and ₹2,540.
Conclusion
In summary, while the Indian stock market showed marginal gains on Friday with mixed sector performances, astute investors can look towards the recommended stocks for potential growth. By focusing on Adani Ports, IOC, and Godrej Properties, traders can strategically navigate the market’s current landscape. Always consider risk management strategies, such as stop-loss placements, to safeguard investments.
