Stock Market Recommendations

According to Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities, EID Parry and Prestige are the top stock picks for this week. Here’s his view on Nifty, Bank Nifty and the top stock picks with a 3-month horizon.

Nifty View

The benchmark Nifty index showed signs of bearish sentiment last week, slipping below its crucial 20-day EMA. Momentum indicators suggest downside momentum may be gaining strength. Immediate support lies in the 24900–24850 zone.

Bank Nifty View

Bank Nifty moved within its narrowest weekly range since August 2024, reflecting indecision among investors. The index is at a crucial inflection point, with immediate support at 56200-56300.

Stock Recommendations

EID Parry has broken out from its consolidation phase, signaling a fresh uptrend. Accumulate in the 1155-1145 zone with a stop loss at 1100, targeting 1280.

Prestige shows signs of resuming its upward journey after a healthy profit booking phase. Accumulate in the 1700-1690 zone with a stop loss at 1620, targeting 1900.

(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)