Buy or sell stocks: The Indian equity market witnessed significant volatility during the week and ended lower, as the benchmark indices registered losses for the third consecutive session.
Consequently, the Nifty fell 0.72% to settle at 23,547.75, while the Sensex dropped 0.85% to close at 74,775.74. However, the broader market remained relatively resilient, with the mid-cap index gaining 0.54% and the small-cap index advancing 1.20%, indicating sustained investor interest in select stocks outside the large-cap segment.
Stock market today
Nifty 50
On 29th May 2026, the Nifty 50 opened with a marginal gap-down of 5 points at 23,902.15, reflecting a cautious start to the session. The index registered its intraday high of 24,002.80 within the first few minutes of trade. However, sustained selling pressure emerged thereafter, dragging the index steadily lower throughout the session. The weakness intensified during the latter half as the index slipped towards its intraday low of 23,484.75 in the final few minutes of trade before eventually settling at 23,547.75. The index ended the day with a decline of 359.40 points or 1.50% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a bearish candlestick pattern indicates sustained selling pressure throughout the session. The close near the intraday low reflects weakness in short-term momentum and suggests that sellers remained dominant across the day.
“From a technical perspective, immediate support is placed in the 23,200–23,250 range, while resistance is observed between 23,750 and 23,800 levels. The Relative Strength Index (RSI) stands at 43.37, indicating weakening momentum and a cautious undertone in the near term. In the derivatives segment, notable call writing was seen at the 23,700 strike, followed by 23,800, while significant put writing was observed at 23,500 and 23,300 levels, indicating immediate support near lower zones while resistance remains firm at higher strikes,” Bagadia said.
Bank Nifty
The Bank Nifty index opened with a gap-down of 105.55 points at 54,748.30, reflecting weakness in the banking space at the opening bell. The index witnessed some buying interest initially and registered its intraday high of 55,184.45 during the first half of the session. However, the momentum failed to sustain at elevated levels as continuous selling pressure emerged thereafter. The weakness persisted throughout the latter half of the session, dragging the index towards its intraday low of 54,116.15 in the final few minutes of trade before eventually settling at 54,239.20. The index ended the session lower by 614.65 points or 1.12%.
Bagadia noted that on the daily timeframe, the formation of a bearish candlestick pattern indicates persistent selling pressure and weakness in the banking segment. The close near the day’s low reflects cautious sentiment and lack of sustained buying support at higher levels.
“From a technical standpoint, immediate support is placed in the 53,900–54,000 range, while resistance is seen in the 54,800–55,000 zone. The Relative Strength Index (RSI) stands at 46.91, indicating weakening momentum though the index still trades near the neutral zone. Sustaining above immediate support levels will remain important to avoid further downside pressure in the near term,” he added.
He further advised traders to closely monitor immediate support zones, as sustained weakness below these levels could trigger further downside pressure, while any recovery would require strong follow-through buying near lower levels, as recent price action suggests a highly volatile and weak trading session with both benchmark indices witnessing sharp selling pressure after failing to sustain gains at higher levels.
Broader market sentiment remained negative, with declining stocks significantly outnumbering advancing stocks, indicating widespread weakness across sectors. Most sectoral indices traded in the red, with notable pressure visible in Auto, Metal, Oil & Gas, Financial Services, Pharma, and Consumer-related sectors, while selective resilience was seen in the IT segment.
Sumeet Bagadia’s stocks to buy
Amid ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on Monday, 1 June: Acme Solar Holdings, Capri Global Capital, Syrma SGS Technology, Vijaya Diagnostic Centre, and Neogen Chemicals.
1] Acme Solar: Buy at ₹310, Target ₹335, Stop Loss ₹298
Acme Solar share price is trading around 310, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 66, indicating accelerating upward momentum and solid buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 335. To effectively manage downside risk, a strict stop loss should be maintained at 310.
2] Capri Global Capital: Buy at ₹198, Target ₹215, Stop Loss ₹189
Capri Global Capital share price is currently trading at 198, showcases a strong bullish structure on the daily chart, staging a sharp recovery from its short-term consolidation with supportive volume. The stock is trading comfortably above its key 20, 50, 100, and 200-day exponential moving averages, confirming a well-established and robust underlying uptrend. Furthermore, the daily relative strength index is rising steadily near 63, indicating accelerating upward velocity and solid buyer commitment. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 215. To effectively manage downside risk, a strict stop loss should be maintained at 189.
3] Syrma SGS Technology: Buy at ₹1089, Target ₹1185, Stop Loss ₹1035
Syrma SGS Technology share price is currently trading at 1089, demonstrates a strong bullish structure on the daily chart, staging a sharp recovery from its short-term pullback with steady volume support. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 65, indicating accelerating upward momentum and solid buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 1185. To effectively manage downside risk, a strict stop loss should be maintained at 1035.
4] Vijaya Diagnostic Centre: Buy at ₹1308, Target ₹1425, Stop Loss ₹1245
Vijaya Diagnostic Centre share price is currently trading at 1308, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 66, indicating accelerating upward momentum and solid buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 1425. To effectively manage downside risk, a strict stop loss should be maintained at 1245.
5] Neogen Chemicals: Buy at ₹1858, Target ₹2000, Stop Loss ₹1777
Neogen Chemicals share price is trading around 1858, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 68, indicating accelerating upward momentum and solid buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 2000. To effectively manage downside risk, a strict stop loss should be maintained at 1777.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
