Stock Picks for the Week: Buy Nestle India, Reliance Industries, and Maruti Suzuki for Potential Gains

Indian stock markets ended the week on a downbeat note, with the Nifty 50 index dropping 183 points and the BSE Sensex sliding 773 points, mainly due to the weak global cues from the US stock market. Despite the overall market decline, certain sectors showed resilience, with Media, Oil & Gas, and Consumer Durables leading the gainers, while IT, Pharmaceuticals, and Banking sectors faced the brunt of the selling pressure. The Nifty Mid-cap and Smallcap 100 indices outperformed the benchmark, reflecting relative stability in broader markets.
Sumeet Bagadia’s Stock Recommendations for the Coming Week
Sumeet Bagadia, Executive Director at Choice Broking, remains cautiously optimistic about the Indian market. Despite recent declines, the Nifty 50 index has held above the key 24,000 mark, with support seen at 23,900–23,850. Bagadia points out that the market is trading within a critical range between the 200-day and 50-day exponential moving averages (EMAs), with resistance at 24,200.
For the upcoming week, Bagadia has highlighted three stocks with promising potential: Nestle India, Reliance Industries, and Maruti Suzuki.
1. Nestle India: Buy at ₹2232.70, Target ₹2415, Stop Loss ₹2140
Nestle India shows a strong bullish momentum, having formed a positive candle on the daily chart. After a correction, the stock has found stability near its demand zone, indicating a potential reversal. A break above ₹2260 could signal a stronger upward move, with the stock potentially targeting ₹2415. The Relative Strength Index (RSI) at 54.85 suggests an improving trend, and the stock is trading above its short-term and medium-term EMAs. The stop-loss is set at ₹2140 to manage risk.
2. Reliance Industries: Buy at ₹1251.15, Target ₹1350, Stop Loss ₹1200
Reliance Industries is showing signs of a reversal after recent selling pressure. The stock has paused near its demand zone, and a breakout above ₹1280 could drive the stock toward ₹1350. The RSI at 49.22 indicates a shift in sentiment, and the stock is showing strength above its short-term EMA. A stop-loss is advised at ₹1200, with an upside target of ₹1350.
3. Maruti Suzuki: Buy at ₹11,934.25, Target ₹13,150, Stop Loss ₹11,350
Maruti Suzuki has witnessed a strong bullish reversal and breakout from a consolidation phase. The stock is in a long-term uptrend, with a double-bottom formation signaling a continuation of upward momentum. The RSI of 69.40 and strong price action across multiple timeframes, including the 20-day, 50-day, and 200-day EMAs, support the bullish outlook. A stop-loss at ₹11,350 is recommended, with a target of ₹13,150.
These stock recommendations align with the current market setup and technical indicators, offering potential opportunities for gains in the coming week.