Stocks to Watch: Three Recommendations for Investors on 27 April 2026

Indian Stock Market Remains Under Bear's Grip for Third Straight Session

The key benchmark indices of the Indian stock market continued to experience a downturn for the third consecutive session last week. The Nifty 50 index witnessed a significant crash of 679 points in these three sessions, while the BSE Sensex plummeted over 2,600 points from Wednesday to Friday last week. The Bank Nifty index, which ended at 57,371 on Tuesday, finished at 56,089, resulting in a loss of nearly 1,300 points in three straight sessions.

Among various sectors, the IT index experienced a sharp correction, shedding over 10 per cent, whereas the FMCG and Energy indices surprisingly rallied over 2 per cent despite weak market sentiment. During the week, the market slipped below the 50-day Simple Moving Average (SMA) of 24,300/78,000 due to profit booking at higher levels, and post-breakdown, selling pressure intensified.

Stock Market Outlook

Read also: Tech-Driven SMB Platforms Gain Momentum, India Emerge Key Market for Digital Business Tools

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market bias is weak as the Nifty 50 index may attempt to test its current support range of 23,700 to 23,650. According to technical analysis, the index's close of 23,897 indicates a weak session with sustained selling bias. On the daily timeframe, a bearish candlestick pattern indicates continued selling pressure and weak market sentiment.

From a technical perspective, immediate support is observed in the 23,650-23,700 range, while resistance is seen between 24,050 and 24,150. The Relative Strength Index (RSI) stands at 49.21, slipping below the 50 midpoint, indicating weakening momentum and a shift towards a negative bias. The volatility index, India VIX, increased by 6.04% to close at 19.71, suggesting rising market uncertainty.

Stock Recommendations

Read also: RBL Bank Reports 300% Increase in Profit After Tax to Rs 230 Crore in Q4, Net Interest Income Up 6.9% Year-over-Year to Rs 1,670 Crore

Sumeet Bagadia has recommended buying shares of SBI, Coal India, and Grasim Industries.

1. SBI

• Buy at ₹1101, Target ₹1180, Stop Loss ₹1048
• SBI share price is currently consolidating near the ₹1100 zone after a strong uptrend, indicating healthy price action rather than weakness.
• The stock has recently taken support near its short-term moving averages and is attempting to stabilise above them.
• The 20-day and 50-day Exponential Moving Averages (EMAs) are closely placed around current levels, suggesting a key support cluster, while the 100-day EMA (1048) remains a crucial medium-term base.

2. Coal India Ltd

• Buy at ₹456, Target ₹488, Stop Loss ₹440
• Coal India's share is showing an improving price structure as it steadily approaches a key resistance zone near the descending trendline.
• The stock is currently trading around ₹456 and has rebounded strongly from lower levels, indicating renewed buying interest.
• Price action reflects a sequence of higher highs and higher lows, suggesting a gradual shift toward a bullish trend.

3. Grasim Industries

• Buy at ₹2739, Target ₹2915, Stop Loss ₹2626
• Grasim share is currently in a sideways consolidation phase after a recent volatile move, with the price stabilising above the 2700 zone.
• The stock is trading near a cluster of key moving averages, indicating a balance between buyers and sellers.
• Notably, it has recently reclaimed the 20-day EMA (2715), a sign of early short-term strength.