The Indian stock market ended lower on Friday as investors booked profits after a strong rally earlier in the week. The Nifty 50 closed 42 points down at 25,019, the Sensex fell by 200 points, and the Bank Nifty settled slightly lower at 55,354. Despite this, broader markets outperformed, with the Nifty Midcap100 gaining 9.5% and the Nifty Smallcap100 rising by 11.3% over the week.
According to Siddhartha Khemka, Head of Research at Motilal Oswal, markets are expected to continue their upward trend this week, supported by positive developments in US–China trade talks, low domestic inflation, and strong institutional investments. So far in May, foreign and domestic institutional investors have poured in around ₹33,000 crore. India’s retail inflation has eased to 3.16%, which opens up the possibility of interest rate cuts to boost economic growth. Additionally, Commerce Minister Piyush Goyal is currently in the US (May 17–20) working on a trade deal, aiming for an interim agreement ahead of a broader pact later this year.
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On the technical front, Hrishikesh Yedve of Asit C. Mehta mentioned that the Nifty 50 showed a slight dip on Friday but has formed a strong weekly pattern, suggesting potential growth. He predicts the index could move towards the 25,500–25,800 range in the medium term, with immediate support around 24,800–24,850. He recommends a buy-on-dips approach. Similarly, Om Mehra from SAMCO Securities stated that Bank Nifty could resume its rally if it breaks above 55,500, with the next resistance between 56,100 and 56,500. The support levels are around 54,800 and 54,500.
Market experts have recommended six intraday stocks under ₹100 for today. Vaishali Parekh from Prabhudas Lilladher suggests buying HCC at ₹30 with a target of ₹36 and a stop loss at ₹28. Mehul Kothari of Anand Rathi recommends NMDC at ₹70 (target ₹75, stop loss ₹67) and Edelweiss at ₹87.50 (target ₹92, stop loss ₹85). Mahesh M Ojha from Hensex Securities advises buying PTC India Financial Services in the ₹36.50–₹37.25 range with targets of ₹38.50, ₹40, and ₹44, and a stop loss at ₹35. He also recommends BL Kashyap between ₹71–₹72, with targets of ₹74, ₹76, and ₹80, and a stop loss at ₹69.40. Lastly, Anshul Jain of Lakshmishree Investment suggests Sterlite Technologies at ₹76.50, with a target of ₹80 and a stop loss at ₹72.
Disclaimer: These recommendations are based on expert opinions and are not financial advice. Please consult a certified financial advisor before making any investment decisions.
