Buy or sell stocks: Benchmark indices Sensex and Nifty 50 snapped their two-day winning run on Friday, May 15, amid profit booking by investors, weak global cues, a sharp increase in crude oil prices, and the rupee falling to a fresh record low against the US dollar.
The Sensex fell 161 points, or 0.21%, to end at 75,237.99, while the Nifty 50 slipped 46 points, or 0.19%, to close at 23,643.50.
Stock market today
Nifty 50
On 15th May 2026, the Nifty 50 opened with a gap-up at 23,731.40, indicating a positive start to the session. The index registered its intraday high of 23,839.30 during the first half of the session. However, selling pressure emerged from higher levels, dragging the index lower towards an intraday low of 23,610.30 in the second half. The index eventually settled at 23,643.50, registering a decline of 46.10 points or 0.19% 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 profit booking at higher levels and cautious sentiment among market participants.
“From a technical perspective, immediate support is placed in the 23,450–23,500 range, while resistance is observed between 23,850 and 23,900 levels. The Relative Strength Index (RSI) stands at 45.13, indicating weak momentum and lack of strong bullish conviction. The volatility index, India VIX, increased by 0.95% to close at 18.79, suggesting a slight rise in market uncertainty. 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 23,400 levels, indicating near-term support zones within a defined trading range,” said Bagadia.
Bank Nifty
The Bank Nifty index opened with a gap-up at 54,207.75 and registered its intraday high of 54,325.45 during the first half of the session. Thereafter, sustained selling pressure emerged, dragging the index lower towards an intraday low of 53,628.30 in the second half. The index eventually closed near its day’s low at 53,710.35, declining by 418.60 points or 0.77% for the day.
Bagadia noted that on the daily timeframe, the formation of a bearish candlestick pattern with the intraday high near the opening level reflects selling pressure right from the start of the session.
“From a technical standpoint, immediate support is placed in the 53,000–53,100 range, while resistance is seen in the 54,400–54,500 zone. The Relative Strength Index (RSI) stands at 41.60, indicating weakening momentum and a cautious undertone in the banking index. Sustaining above key support levels will be important to avoid further downside pressure,” he added.
Bagadia further advised traders to remain selective and monitor key support zones closely, as sustained weakness below these levels could trigger further downside pressure in the near term, as recent price action suggests a weak trading session with both benchmark indices witnessing selling pressure from higher levels after a positive opening.
Sumeet Bagadia’s stocks to buy
Amid ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on Monday, 18 May: Samvardhana Motherson International, Indo Count Industries, Healthcare Global Enterprises, Grindwell Norton, and Hindustan Oil Exploration Company.
1] Samvardhana Motherson International: Buy at ₹130, Target ₹140, Stop Loss ₹124.50
Samvardhana Motherson International share price is trading around ₹129.92 and continues to exhibit positive price structure by sustaining above key short-term and long-term EMAs. The rising EMA alignment reflects underlying strength and continuation of bullish momentum in the stock. As the stock continues to move higher while taking support near the 20-day EMA, the overall setup remains favourable for further upside. For short term, Buy is recommended at CMP with a strict stop loss of ₹124.50 for a potential upside target of ₹140, applying appropriate risk management.
2] Indo Count Industries: Buy at ₹290, Target ₹315, Stop Loss ₹277
Indo Count Industries share price is showing improving price structure with a higher high–higher low formation after witnessing a recent correction and rebound from support levels. Currently trading around ₹290, the stock has taken support near its 20-day EMA and delivered a sideways range breakout on the lower timeframe, indicating fresh buying momentum. A short-term bullish EMA crossover further supports potential upside towards ₹315 near the previous swing high. On the downside, immediate support is placed around ₹280– ₹282 where accumulation is visible. Traders may consider Buy at CMP with a strict stop loss at ₹277 for effective risk management.
3] HealthCare Global Enterprises: Buy at ₹637, Target ₹690, Stop Loss ₹607
HealthCare Global Enterprises share price is showing strong bullish momentum after delivering a horizontal resistance breakout, followed by a successful retest and rebound from the breakout zone, indicating sustained buying interest. Momentum indicators also remain supportive, with RSI witnessing a reversal from the oversold zone along with a bullish divergence on the daily timeframe, while continuing to sustain above the midpoint. The overall technical structure remains positive, suggesting Buy at CMP for a potential upside target of ₹690 while maintaining a strict stop loss at ₹607 for better risk management.
4] Grindwell Norton: Buy at ₹1859, Target ₹2000, Stop Loss ₹1780
Grindwell Norton share price is showing a positive technical setup with potential upside bias after breaking above a falling trendline resistance, indicating revival in bullish momentum. The stock continues to move higher post-breakout, reflecting improving price structure and buying interest. RSI is also showing a bullish divergence breakout while sustaining above the midpoint, highlighting strengthening momentum. Based on the current technical structure, traders may consider Buy at CMP with a stop loss at ₹1780 for a potential upside target of ₹2000, applying appropriate risk management.
5] Hindustan Oil Exploration Company: Buy at ₹169, Target ₹185, Stop Loss ₹160
Hindustan Oil Exploration Company share price is showing renewed bullish strength after a healthy retracement, followed by accumulation near lower levels and a strong rebound from support zones. Currently trading around ₹169, the stock has witnessed a short-term bullish EMA crossover and continues to move higher. It recently took support near the 20-day EMA and bounced back after sustaining above its previous swing high breakout zone, indicating strong buying interest. The current technical setup favours Buy at CMP with a strict stop loss at ₹160 for a potential upside target of ₹185, provided appropriate risk management is followed.
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.
