Indian Stocks Under ₹100: Expert Recommendations for Monday, May 11, 2026

Indian Stock Market Sees Decline Amid Geopolitical Tensions

The Indian equities witnessed selling pressure on Friday, May 8, as both benchmark indices declined more than 0.50% amid escalating geopolitical tensions triggered by reported Iran-US clashes near the Strait of Hormuz. The Nifty 50 settled 0.55% lower at 24,193, while the Sensex dropped 0.67% to close at 77,321.

Despite sharp intraday volatility, both indices managed to post weekly gains of over 0.70%. In the broader market, performance remained mixed. The Nifty Smallcap 100 index advanced 0.22%, whereas the Nifty Midcap 100 index edged down 0.15%.

Market Outlook for Next Week

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The Nifty 50 opened with a gap-down at 24,233.65 and witnessed weakness throughout the session. The index recorded its intraday high of 24,253.00 in the first half, while selling pressure intensified in the latter half, dragging the index to an intraday low of 24,126.65. The index eventually closed at 24,176.15, registering a decline of 150.50 points or 0.62% over the previous close.

On the daily timeframe, the formation of a bearish candlestick pattern indicates sustained selling pressure and moderation in bullish momentum. According to Sumeet Bagadia, Executive Director at Choice Broking, immediate support is placed in the 24,000–24,080 range, while resistance is observed between 24,330 and 24,400 levels. The Relative Strength Index (RSI) stands at 52.40, remaining above the midpoint of 50 but indicating weakening momentum.

Bank Nifty Sees Significant Decline

The Bank Nifty index opened with a gap-down at 55,783.95 and faced selling pressure right from the opening minutes of the session. The index recorded its intraday high of 55,797.70 near the opening level and continued to decline throughout the day, marking an intraday low of 55,062.50 in the second half. The index eventually closed at 55,310.55, registering a decline of 736.85 points or 1.31% for the day.

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On the daily timeframe, the formation of a bearish candlestick pattern with the intraday high near the opening level indicates persistent selling pressure throughout the session. According to Bagadia, from a technical standpoint, immediate support is placed in the 54,800–55,000 range, while resistance is seen in the 55,800–56,000 zone. The Relative Strength Index (RSI) stands at 48.56, slipping below the midpoint level of 50 and indicating weakening momentum with a bearish bias.

Stock Recommendations

Sumeet Bagadia has recommended three stocks to buy on Monday, April 27. The three stock picks by Bagadia are:

Bagadia recommended investors to remain selective and wait for stability near support zones or a decisive breakout above resistance levels before initiating fresh positions, as the recent price action suggests a weak trading session with both indices witnessing sustained selling pressure throughout the day. While broader market volatility remained relatively contained, weakening momentum and bearish candlestick formations indicate cautious sentiment among market participants.