Buy or sell stocks: The Indian stock market ended higher on Monday, July 27, as broad-based buying lifted benchmark indices by nearly 1%, snapping a five-session losing streak.
The BSE Sensex surged 776 points, or 1.02%, to close at 76,835.78, while the NSE Nifty 50 gained 229 points, or 0.96%, to settle at 23,995.95.
Stock market today
Nifty 50
Nifty 50 witnessed a strong recovery session, opening with a gap-up at 23,928 and maintaining a positive undertone throughout the day. After consolidating within a narrow 15-minute range during the initial session, the index found strong support near 23,900, which encouraged fresh buying interest. The benchmark gradually extended its gains, approaching the crucial 24,000 mark and touching an intraday high of 24,011 before closing at 23,995.95, up 228.50 points (+0.96%). The day’s price action reflected improving market sentiment, with sustained buying at lower levels and a strong close near resistance, indicating renewed confidence among market participants. Sector-wise, the rally was led by IT, Media, Realty, Midcap 150, and Financial Services, while Auto, Pharma, Healthcare, and Chemicals also witnessed healthy buying interest, highlighting broad-based market participation.
According to Sumeet Bagadia, Executive Director at Choice Broking, Nifty has successfully reclaimed and closed above its 50-day EMA, signalling an improvement in short-term momentum after the recent correction.
“The RSI has improved to 49.55, indicating strengthening momentum, while India VIX declined sharply by 9.76% to 12.66, reflecting easing volatility and improving market confidence. The PCR stands at 1.13, suggesting a balanced-to-positive derivatives setup. Open Interest data indicates strong support at 23,900 PE and 24,000 PE, while 24,100 CE and 24,200 CE remain the immediate resistance zones. As long as the index sustains above 23,800–23,850, it is likely to trade within the 23,800–24,250 range, with the overall bias remaining Sideways to Bullish,” said Bagadia.
Bank Nifty
Bank Nifty opened on a firm note at 57,116 following a gap-up start but witnessed mild profit booking during the early part of the session. Despite the initial selling pressure, the index remained resilient and spent most of the day consolidating around the 57,000 zone, highlighting a balance between buyers and sellers. It touched an intraday high of 57,330 and a low of 56,928 before settling at 57,087.20, gaining 393.70 points (+0.69%). The intraday price action suggested healthy consolidation after the recent rebound, with participants refraining from aggressive positions near higher levels.
Bagadia noted that the index has formed a Doji candle on the daily timeframe, reflecting indecision after the recent recovery.
“While the index has paused near resistance, it continues to hold above its immediate support zone, indicating that the broader undertone remains constructive. A sustained move above 57,350–57,500 could trigger fresh buying momentum, whereas a break below 56,700–56,850 may invite renewed selling pressure. Until a decisive breakout or breakdown occurs, Bank Nifty is expected to trade within the 56,700–57,500 range, with the overall bias remaining Sideways to Bullish,” said Bagadia.
Sumeet Bagadia’s stocks to buy
Sumeet Bagadia recommends five breakout shares to buy on Tuesday, 28 July: Narayana Hrudayalaya, Rico Auto Industries, Apcotex Industries, 360 ONE WAM, and Manorama Industries.
1] Narayana Hrudayalaya: Buy at ₹2054, Target ₹2200, Stop Loss ₹1953
Narayana Hrudayalaya (NH) is displaying strong bullish momentum after taking support near its rising trendline and successfully holding above the 20-day EMA. In the latest trading session, the stock witnessed a sharp upside move, closing near the day’s high, reflecting sustained buying interest. It has now reclaimed all key moving averages (20, 50, 100, and 200 EMA), indicating strengthening trend momentum.
The RSI has also given a positive crossover and is trading at 60.80, supporting the bullish outlook. NH is currently trading close to its previous swing high breakout zone, and a decisive breakout above this 2060 could trigger fresh buying interest. As long as the stock sustains above 1953, it remains well-positioned to move towards the 2200 target.
2] Rico Auto Industries: Buy at ₹146, Target ₹155, Stop Loss ₹139
Rico Auto Industries has regained strength after a healthy profit-booking phase that followed its previous highs. The recent correction found strong support around the 100-day EMA, which also coincides with the 50% Fibonacci retracement level, leading to a smart rebound. The stock is now trading above all major moving averages, indicating that the broader uptrend remains intact.
It is approaching its previous all-time high zone, where a sustained move could result in a fresh breakout. Momentum indicators continue to improve, suggesting renewed buying interest after the recent consolidation. As long as the stock holds above 139, the overall setup remains positive, with 155 emerging as the next immediate upside target.
3] Apcotex Industries: Buy at ₹585, Target ₹635, Stop Loss ₹555
Apcotex Industries continues to maintain a strong bullish structure, forming a consistent pattern of higher highs and higher lows on the daily chart. The stock recently took support near its 50-day EMA before witnessing renewed buying momentum, allowing it to move towards fresh 52-week highs. It is comfortably trading above all key moving averages, reflecting a healthy medium-term trend.
The RSI remains in bullish territory, indicating sustained momentum without showing signs of weakness. A decisive hold above the recent breakout zone could attract further buying interest in the coming sessions. With the prevailing trend remaining positive, the stock has the potential to extend its rally towards 635, while 555 should act as a crucial stop-loss level.
4] 360 ONE WAM: Buy at ₹1133, Target ₹1222, Stop Loss ₹1089
360 ONE WAM has been consolidating in a broad range of 1060–1150 for the past several months after repeatedly finding support around the 1060 demand zone. The stock is trading above all key moving averages, highlighting improving trend strength. In the latest trading session, it once again moved close to its range resistance, registering a high of 1136.9 and closing firmly near the upper band of the consolidation.
This indicates sustained buying interest and the possibility of a breakout in the upcoming sessions. A decisive move above the 1150 resistance could trigger fresh momentum and open the path towards 1222. The overall structure remains constructive as long as the stock holds above the 1089 stop-loss level.
5] Manorama Industries: Buy at ₹1659, Target ₹1777, Stop Loss ₹1585
Manorama Industries remains in a strong uptrend, maintaining a well-defined higher high and higher low formation on the daily chart. After witnessing a healthy pullback, the stock has taken support near its 20-day and 50-day EMAs, indicating that buyers continue to accumulate at lower levels. The latest session ended with a strong bullish candle near the day’s high, reflecting sustained buying momentum.
The RSI has also delivered a positive crossover and is currently trading at 61.99, reinforcing the positive outlook. With the stock trading comfortably above all major moving averages, the trend continues to favor the bulls. A sustained move above the recent highs could drive the stock towards 1777, while 1585 remains a key support and stop-loss level.
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.
