Stock market recommendations: According to Sudeep Shah, Head – Technical Research and Derivatives, SBICAP Securities, Apollo Hospitals Enterprise, and LT Foods are the top stock picks for the upcoming week. Here’s his view on Nifty, Bank Nifty and the top stock picks with a 3-month horizon:
Nifty View
The squeeze sets the stage—the breakout steals the show. For 31 trading sessions, the Nifty moved in a narrow consolidation range, building silent pressure with every passing day. Like an audience holding its breath before the climax, the market was coiling, waiting for a trigger. That moment finally arrived this week, as Nifty broke free from its range-bound structure, delivering a sharp upside move that ended the week above the 25600 mark, with a 2.09% gain.More importantly, this move led to the highest weekly close since September 2024, confirming that the breakout wasn’t just symbolic—it was structural. On the weekly chart, the index has formed a sizable bullish candle, a visual expression of strong momentum and renewed buying conviction.This breakout was not an isolated event. It comes with improving breadth across sectors such as Financial Services, Private Banks, Oil & Gas, Infrastructure, and Auto, many of which have also seen breakout patterns of their own. Backed by strong technical indicators and firm sectoral participation, Nifty now looks poised to extend its northward journey in the coming weeks and is likely to test the level of 25800, followed by 26100 in the short term. While, on the downside, the zone of 25400-25350 is likely to provide a cushion in case of any immediate decline. The stage was set in silence—now, the spotlight is on the bulls.Bank Nifty ViewBank Nifty has been displaying notable strength lately, backed by a series of compelling technical indicators. Most prominently, the index has registered fresh all-time highs over the last two trading sessions—clearly outperforming the broader Nifty index, which remains nearly 2.5% below its own record high. This relative outperformance reflects strong sectoral leadership from banking stocks.A key bullish trigger has been the recent Stage-2 cup pattern breakout on the daily chart—a well-known continuation formation that typically precedes a strong upward trend. Furthermore, Bank Nifty continues to trade above all its crucial short-term and long-term moving averages, signalling well-supported price action. Momentum indicators such as RSI and MACD remain firmly in bullish territory on both daily and weekly timeframes, highlighting sustained strength and trend acceleration.In summary, the alignment of breakout patterns, moving average support, and strong momentum across timeframes suggests that Bank Nifty is likely to maintain its bullish trajectory. As per the measure rule of cup pattern the upside target is placed at 59000 level. While, on the downside, the zone of 56800-56700 is likely to provide the cushion in case of any immediate decline. Stocks recommendations:
- Apollo Hospitals Enterprise
On the daily chart, the stock has registered a breakout from an Ascending Triangle pattern, supported by robust volume participation—signalling strong buying interest and a bullish continuation. This breakout not only validates the underlying strength but also marks a shift in sentiment after a period of consolidation.Currently, the stock is trading well above all its key moving averages, with each of these averages sloping upward, indicating a well-established uptrend.Adding to the bullish momentum, the daily RSI has also broken out of a two-month consolidation range, confirming the pickup in strength and signalling that the stock may be entering a fresh upward phase. Together, these technical developments suggest that the stock is likely to see continued upside in the near term.Hence, we recommend to accumulate the stock in the zone of 7320-7280 level with a stoploss of Rs 7000. On the upside, it is likely to test the level of 7900 in the short term.
The stock recently found strong support near its 100-day EMA, which acted as a reliable cushion during the recent decline. Following this support, the stock witnessed a sharp upside rally, indicating a strong reversal from this crucial demand zone. What adds conviction to this rebound is the robust volume accompanying the move—highlighting renewed buying interest from market participants.Interestingly, the daily RSI also respected the 40 level, which is often considered a key support in bullish range shifts. The sharp pullback in RSI from this zone reinforces the view that momentum is regaining strength and the stock may be transitioning into a fresh bullish phase.Overall, this confluence of price action, volume confirmation, and momentum resilience points toward a potential continuation of the upward move in the near term. Hence, we recommend to accumulate the stock in the zone of 485-480 level with a stoploss of Rs 450. On the upside, it is likely to test the level of 540 in the short term. (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)
