As Indian equity markets drifted lower for a second consecutive session under the weight of global unease, a quieter story unfolded beneath the surface: smaller companies held firm while the giants retreated. In this moment of cautious equilibrium, one analyst turned not to the broad horizon but to three specific stocks — NMDC, Adani Ports, and Marico — each carrying within its price chart a technical argument for resilience. It is a reminder that in uncertain markets, opportunity does not disappear; it concentrates.
Analyst picks NMDC, Adani Ports, Marico as buys amid market caution
The stock has found strong support and is trading above all its moving averages
Mark
The market just fell for two days straight. Why would an analyst recommend buying anything right now?
Mimi
Because the selling wasn't uniform. Small-cap and mid-cap stocks actually gained ground while the big indices fell. That tells you the weakness is selective, not systemic. Bagadia is looking at three specific stocks with strong technical setups—they're trading above their moving averages and showing positive momentum.
Luke
But those are just technical signals. Moving averages are lagging indicators. How much of this is real buying interest versus algorithmic patterns?
Mimi
That's fair. He's not claiming to know where the market goes next. He's saying these three stocks have the structure to move higher if they break through specific resistance levels. NMDC needs to clear ₹114.65, Adani Ports needs to break ₹760, Marico needs to hold above ₹578.
Mark
And if they don't break through?
Mimi
Then the trades are invalidated. That's why he's given stop losses. NMDC stops at ₹110, Adani Ports at ₹720, Marico at ₹554.
Luke
Those stop losses are pretty tight. On a volatile day, you could get shaken out before the real move happens. Also, I notice he's recommending entry at current market prices for all three. How much of this is just saying "buy what's already moving up"?
Mimi
That's a real question. Technical analysis does tend to chase momentum. But he's also identified specific support levels where these stocks have bounced before. That's not nothing.
Mark
So if I bought all three, what am I betting on?
Mimi
You're betting that these stocks have enough technical strength to overcome their near-term resistance levels and move toward his targets. NMDC to ₹117, Adani Ports to ₹800, Marico to ₹600-608.
Luke
And the broader market? Nifty is at 19,646 with support at 19,550 and resistance at 19,750. That's a narrow range. If Nifty breaks down, do these individual stocks hold up?
Mimi
That's the real risk. Individual stock strength can only carry you so far if the index is falling hard. But Bagadia seems to think the market is at a decision point, not in freefall.
El Pulso
- The Nifty slipped for a second straight day, closing at 19,646, while Bank Nifty bore the sharpest pain — yet small-cap and mid-cap indices quietly gained, revealing that the selling was surgical, not systemic.
- The market now sits in a tense corridor between support at 19,550 and resistance at 19,750, and the direction of the eventual breakout will set the tone for the sessions ahead.
- Against this cautious backdrop, Choice Broking's Sumeet Bagadia identified three stocks — NMDC, Adani Ports, and Marico — each trading above key moving averages and showing momentum indicators that suggest upward potential.
- Each recommendation carries a defined stop loss — ₹110 for NMDC, ₹720 for Adani Ports, ₹554 for Marico — framing the trades as disciplined bets rather than open-ended hopes.
- The thesis is not a call on the market's direction but a search for stocks with the internal technical structure to rise even when the broader tide is uncertain.
As Indian equity markets drifted lower for a second consecutive session under the weight of global unease, a quieter story unfolded beneath the surface: smaller companies held firm while the giants retreated. In this moment of cautious equilibrium, one analyst turned not to the broad horizon but to three specific stocks — NMDC, Adani Ports, and Marico — each carrying within its price chart a technical argument for resilience. It is a reminder that in uncertain markets, opportunity does not disappear; it concentrates.
Indian stock markets closed lower for a second straight day on Friday, with the Nifty shedding 13 points to 19,646 and the Sensex falling 106 points to 66,160. Bank Nifty was the hardest hit, sliding 211 points. Yet the headline numbers masked a more textured reality: small-cap and mid-cap indices each gained roughly half a percent, suggesting that pressure was concentrated among the market's largest names rather than distributed evenly.
Sumeet Bagadia of Choice Broking describes the market as standing at an inflection point. With Nifty finding support at 19,550 and facing resistance at 19,750, the direction of the next breakout will determine whether momentum turns bullish or bearish. In the meantime, he has identified three stocks he believes can move higher on their own technical merits.
NMDC, the state-owned iron ore miner, is his first pick — buy at ₹112.55, target ₹117, stop loss at ₹110. The stock rests on strong support near its 20-day exponential moving average, trades above all key moving averages, and carries an RSI of 64, leaving room for further gains. A breakout above the recent high of ₹114.65 could accelerate the move.
Adani Ports is his second recommendation — entry at ₹755, target ₹800, stop loss at ₹720. After two months of consolidation between ₹714 and ₹760, the stock shows stability rather than weakness. A volume-backed close above ₹760 would, in Bagadia's view, open the path toward ₹800.
Marico rounds out the trio — buy at ₹565, target ₹600–608, stop loss at ₹554. The consumer goods company has broken above a falling trendline and is printing higher highs and higher lows. With RSI, MACD, and Bollinger Band expansion all pointing upward, Bagadia sees ₹578 as the key level to watch: a sustained close above it would likely carry the stock to his target range. Each of these calls is grounded in technical structure — a disciplined search for strength within a cautious market.
Indian stock markets closed lower for the second consecutive day on Friday, weighed down by weak sentiment from overseas. The NSE Nifty fell 13 points to finish at 19,646, while the BSE Sensex dropped 106 points to 66,160. Bank Nifty was hit harder, sliding 211 points to close at 45,468. Yet beneath these headline declines lay a more nuanced picture: smaller companies held their ground. The small-cap index climbed 0.49 percent and the mid-cap index rose 0.55 percent, suggesting that selling pressure was concentrated among the largest names rather than spread evenly across the market.
Sumeet Bagadia, an executive director at Choice Broking, sees the market at an inflection point. After two days of selling, he describes the trend as cautious. The Nifty has found immediate support at 19,550 and faces resistance at 19,750. Which way the market breaks through this range will determine whether momentum turns decisively bullish or bearish in the sessions ahead. For now, the outcome remains uncertain.
Bagadia identified three stocks he believes offer opportunity despite the caution. The first is NMDC, the state-owned iron ore miner. He recommends buying at the current market price of ₹112.55, with a target of ₹117 and a stop loss at ₹110. The stock has found strong support near ₹110.70, which aligns with its 20-day exponential moving average. Bagadia notes that NMDC is trading above its short-term, medium-term, and long-term moving averages—a sign of underlying strength. The momentum indicator RSI sits comfortably at 64, suggesting the stock still has room to run. A near-term hurdle exists at ₹114.65, a recent high, but once cleared, Bagadia expects the stock to accelerate toward his target and potentially beyond.
Adani Ports, the port operator, is his second pick. At ₹755, Bagadia recommends entry with a target of ₹800 and a stop loss at ₹720. The stock has spent the last two months consolidating between ₹714 and ₹760, a range that suggests stability rather than weakness. It too is trading above all three key moving averages. The critical level to watch is ₹760. If Adani Ports breaks above this with substantial trading volume, Bagadia expects it to climb toward ₹792 to ₹800. The trade remains valid only if the stock holds above ₹720; a close below that level would invalidate his thesis.
His third recommendation is Marico, the consumer goods company. Bagadia suggests buying at ₹565, with a target of ₹600 to ₹608 and a stop loss at ₹554. Marico has broken above a falling trendline and is making higher highs and higher lows on the daily chart. Volume participation is solid. The stock trades above all its moving averages, and both the RSI and MACD momentum indicators have turned positive. Bagadia notes that Bollinger Band expansion suggests volatility will carry the price higher. He flags ₹578 as a key level; if Marico closes and sustains above that mark, he expects it to reach his target range in the coming days.
These three recommendations rest on technical analysis—moving averages, support and resistance levels, momentum indicators, and price patterns. Bagadia is not making a call on the broader market direction; he is identifying stocks that have the technical structure to move higher regardless. In a cautious market, such stocks may offer the most reliable entry points for investors willing to act.
Citas Notables
Market trend has turned cautious after sell off on two days in a row— Sumeet Bagadia, Choice Broking
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