The Indian stock market ended its six-week losing streak with modest gains, supported by domestic buying and sectoral recovery. With the Nifty 50 trading near key resistance levels, experts highlight opportunities in Maruti Suzuki India, Bajaj Finserv, and Power Grid Corporation of India as potential short-term picks.
The Indian stock market staged a modest recovery last week after prolonged weakness, with the Nifty 50 and Sensex closing nearly 1% higher. The rebound came as oversold conditions and supportive global cues improved investor sentiment. Despite the gains, foreign institutional investors (FIIs) continued heavy selling worth almost ₹10,000 crore, while domestic institutional investors (DIIs) absorbed the pressure by investing nearly ₹19,000 crore.
Broader indices also showed signs of revival, particularly in the pharma and auto segments, while fast-moving consumer goods (FMCG) stocks lagged behind. Market sentiment has turned cautiously optimistic as key index levels come into play.
The Nifty 50 now trades in a narrow band between 24,300 and 24,650, with a broader range set between 24,000 and 24,800. A decisive breakout above 24,650 could open the door to higher levels around 24,800, while any slip below 24,000 may invite renewed selling pressure.
Stock-Specific Opportunities
Maruti Suzuki India Ltd
Maruti Suzuki India Ltd, headquartered in New Delhi and a leader in the automobile industry, is consolidating around ₹12,936. The stock is showing signs of a potential breakout above the ₹13,000 mark. Supported by strong volumes, a positive trend in the Relative Strength Index (RSI) at 63.90, and price action above key moving averages, the stock offers a favorable setup for further upside. Traders may target ₹14,300 while maintaining a stop-loss at ₹12,300.
Also Read: Maruti Suzuki’s Q4 Results: A Dividend That Raises More Questions
Bajaj Finserv Ltd
Bajaj Finserv Ltd, based in Pune and a major financial services company, is trading at ₹1,925.10. After a healthy correction from record highs, the stock has rebounded from its long-term exponential moving average (EMA), signaling early signs of recovery. A move above ₹1,980 may confirm a reversal, potentially pushing the stock toward ₹2,130. With the RSI showing a reversal from lower levels, the current setup offers limited downside risk. A stop-loss at ₹1,830 is advised.
Power Grid Corporation of India Ltd
Power Grid Corporation of India Ltd, headquartered in Gurugram and a key player in India’s power transmission sector, is trading near ₹288.70. The stock has formed an Ascending Triangle pattern on the daily chart, suggesting the possibility of a breakout. A sustained move above ₹300 may lead to gains up to ₹325, supported by improving RSI trends and alignment with key moving averages. A stop-loss at ₹275 is recommended.
Also Read: Bajaj Finance Announces 1:2 Stock Split, 4:1 Bonus Issue
The market’s recovery after six weeks of losses signals resilience, but technical levels remain crucial in defining the next phase of movement. With FIIs continuing to offload and DIIs stepping up their buying, investors may find better opportunities by focusing on technically strong, stock-specific trades rather than broad market bets.
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