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As the Nifty 50 index successfully holds its key technical level above 26,200, signalling continued positive market sentiment, stock market expert Sumeet Bagadia has unveiled his top recommendations for the coming week.
Bagadia, an Executive Director at Choice Broking, advises investors to maintain a bullish, stock-specific approach, zeroing in on companies that display solid momentum and technical strength on charts. His three top picks for the week are Dr Reddy’s Laboratories, Titan Company, and HCL Technologies. This article provides a clear breakdown of the analysis for each stock, helping you understand the rationale behind these high-conviction calls.
Sumeet Bagadia’s Stock Picks for the Week
Stock market expert Sumeet Bagadia, Executive Director at Choice Broking, has recommended three stocks to buy this week: Dr Reddy’s Laboratories, Titan Company, and HCL Technologies. His advice comes as the Nifty 50 index holds above 26,200, indicating positive market sentiment and a bullish outlook.
Why These Stocks?
Dr Reddy’s Laboratories
Dr Reddy’s share price has shown a gradual improvement, currently trading between ₹1,258 and ₹1,260. The stock has reclaimed short-term EMAs (20 & 50), indicating early signs of strength after an extended consolidation. The immediate support is around ₹1,240–1,250, with resistance at ₹1,300–1,350. A breakout above this range could lead to stronger momentum.
Titan Company
Titan’s share price is displaying a strong bullish structure, trading near ₹3,907. The stock has shown a sharp recovery from its October lows, forming higher highs and higher lows, indicating persistent buying interest. The EMAs (20/50/100/200) are aligned positively, with price staying above the ₹3,730–3,840 support cluster. Immediate resistance is at ₹4,050–4,150, and a breakout above this range could open the door for a stronger upward move.
HCL Technologies
HCL Tech’s share price is exhibiting a steady bullish trend, trading around ₹1,625. The stock has formed a series of higher highs and higher lows, indicating a decisive shift in sentiment and improved buying interest. Price action is above all key EMAs (20/50/100/200), with the 20-EMA acting as dynamic support. The breakout above ₹1,550–1,570 has been significant, converting this area into a strong near-term support. Immediate resistance is at ₹1,680–1,717, and a breakout above this zone could trigger the next leg of the rally.
Market Outlook
Bagadia believes the Indian stock market sentiment is positive as long as the Nifty 50 index sustains above 26,000. The index has formed a strong base in the 25,800–25,750 band and is poised to reach 26,500. Upon breaking above this level on a closing basis, the key benchmark index may soon touch the 27,200 mark. Investors should maintain a stock-specific approach and focus on those stocks showing strong technical charts.
Important Note
These recommendations are for educational purposes only. Always consult a certified expert before making any investment decisions.