Brokerage Firm Analyst Sees Buying Opportunities in Three Stocks Ahead of Monday's Trading Session

Indian Stock Market Sees Best Weekly Performance in Over 5 Years

The Indian stock market witnessed a highly volatile week from April 6 to 10, 2026, but ended with strong gains, marking its best weekly performance in over 5 years. The Nifty 50 index surged from 22,713 to 24,050, recording a weekly gain of 1,337 points or close to 6%. The BSE Sensex shot up from 73,319 to 77,550, logging a weekly gain of 4,231 points or around 5.75%. Likewise, the Bank Nifty index went up from 51,548 to 55,912, clocking a weekly gain of 4,364 or around 8.50%.

The positive momentum was primarily driven by improving global sentiment amid hopes of further easing in Middle East tensions ahead of scheduled negotiations between the US and Iran. This led to cooling crude oil prices and supported risk appetite for emerging markets like India. Additionally, sustained buying interest from domestic institutional investors and selective short covering aided the upmove. Optimism around the ongoing earnings season, along with stability in the rupee and bond yields, further contributed to the constructive undertone, though intermittent volatility persisted amid a consolidation bias.

Market Outlook Remains Positive

According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market is biased positively. Bagadia noted that the India VIX index has slipped below 19, suggesting easing market uncertainty and supporting the ongoing upward trend.

The Nifty 50 index has formed a bullish candlestick pattern on the daily timeframe, indicating continued buying interest and strengthening market sentiment. Immediate support for the Nifty 50 index is seen in the 23,750-23,800 range, while resistance is observed between 24,200-24,250. The Relative Strength Index (RSI) stands at 54.24, above the 50 midpoint, indicating sustained positive momentum. The volatility index, India VIX, declined by 7.72% to close at 18.85, suggesting easing market uncertainty and supporting the ongoing upward trend.

Stock Recommendations

Bagadia recommended three stocks to buy on Monday:

| Stock | Recommendation | Target | Stop Loss | | --- | --- | --- | --- | | Asian Paints | Buy | ₹2440 | ₹2300 | | M&M | Buy | ₹3450 | ₹3130 | | SBI | Buy | ₹1120 | ₹1030 |

These stocks are expected to benefit from the ongoing positive market sentiment. Asian Paints is expected to break out of its downward pattern, while M&M continues to trade within a rising range. SBI is showing signs of a strong comeback after finding good buying support near its 200-day moving average.