Buy or sell stocks: The Indian stock market saw a sharp sell-off on Friday, with the Nifty 50 index declining 317 points (-1.25%) amid persistent selling pressure throughout the day. The 50-stock index decisively breached the crucial 25,350 support level, sweeping through a key OI-rich zone and nearly filling the gap formed after the earlier US–India tariff-led rally, signalling a clear shift in near-term sentiment.
Weak global cues and rising geopolitical uncertainty following inconclusive US–Iran talks weighed on investor confidence, triggering broad-based profit booking across Auto, FMCG and Pharma stocks after recent advances. The absence of fresh domestic triggers further accelerated the downside momentum, especially during the final hour of trade.
Stock market outlook
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market is weak as the Nifty 50 index has closed below the 200-day EMA. The Choice Broking expert said the Nifty 50 index has formed its fourth consecutive red candle and closed below the 200-day EMA, indicating a weakening medium-term trend and a shift in the overall market structure toward bearishness.
Speaking on the outlook of the Indian stock market today, Sumeet Bagadia said, “From a technical perspective, immediate resistance for the Nifty 50 index is seen in the 25,300–25,350 zone, while a strong support base is positioned around 25,000–25,050. The daily RSI stands at 40.65, indicating weak momentum and a bearish bias, though not yet in the oversold zone. Meanwhile, India VIX rose by 4.90% to 13.7, signalling easing market fear and expectations of relatively lower volatility ahead.”
In the derivatives segment, notable put writing was observed at the 25,000 strike, along with aggressive call writing at the 25,400 strike, indicating a well-defined trading range. Traders are advised to remain cautious near key support levels and wait for a decisive breakout above resistance zones before initiating fresh directional positions.
Stocks to buy or sell
Regarding stocks to buy on Monday, Sumeet Bagadia recommended these three buy-or-sell stocks: Siemens, IOC, and ONGC.
1] Siemens: Buy at ₹3418, Target ₹3600, Stop Loss ₹3270.
Siemens’ share price is showing a strong bullish continuation after a prolonged consolidation phase on the daily chart. Price action has formed a decisive breakout above the ₹3400 resistance zone, supported by a bullish engulfing candlestick that has absorbed the previous three sessions’ price movement.
2] IOC: Buy at ₹187.50, Target ₹197, Stop Loss ₹180.50.
IOC’s share price is maintaining a strong higher-high higher-low structure on the daily chart, reflecting a steady uptrend. The stock has consistently found support near the 20-day EMA, indicating buying on dips and confirming bullish momentum.
3] ONGC: Buy at ₹279.70, Target ₹300, Stop Loss ₹270.
ONGC’s share price is showing a consistent bullish structure with a clear higher-high higher-low formation on the daily timeframe. The stock has been repeatedly taking support near the rising 20-day EMA, highlighting strong buying interest on corrections and a classic buy-on-dips trend.
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.
