Stock Market Analyst Sumeet Bagadia Identifies Five Key Stocks for Buying Attention on 21 May 2026

Indian Stock Market Sees Slight Uptick Amid Ongoing Tensions

The Indian benchmark indices, the Sensex and Nifty 50, closed marginally higher on Wednesday, May 20, 2026, driven largely by gains in Reliance Industries shares. The Sensex rose 118 points, or 0.16%, to finish at 75,318.39, while the Nifty 50 advanced 41 points, or 0.17%, to settle at 23,659.

The Nifty 50 opened with a gap-down at 23,457.25, reflecting weak sentiment at the start of the session. Selling pressure during the opening minutes dragged the index to an intraday low of 23,397.30. However, strong buying interest emerged from lower levels thereafter, helping the index recover steadily throughout the day. The recovery momentum remained intact as the index filled the morning gap-down and climbed to an intraday high of 23,690.90. The index eventually settled at 23,659.00, registering a gain of 41 points or 0.17% over the previous close.

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According to Sumeet Bagadia, Executive Director at Choice Broking, the formation of a bullish candlestick pattern after recovering sharply from lower levels and filling the opening gap-down indicates improving short-term sentiment and buying support near lower zones. The immediate support is placed in the 23,350–23,400 range, while resistance is observed between 23,900 and 23,950 levels. The Relative Strength Index (RSI) stands at 45.64, indicating gradual improvement in momentum though the index still trades below the stronger bullish zone.

Bank Nifty Index Sees Slight Recovery

The Bank Nifty index opened with a sharp gap-down at 53,015.70, reflecting weakness in the banking space at the start of the session. The index registered its intraday low of 52,836.10 within the opening minutes amid initial selling pressure. However, strong buying interest emerged from lower levels thereafter, helping the index recover steadily throughout the session. The recovery momentum pushed the index to an intraday high of 53,640.90 after filling the morning gap-down. The index eventually settled at 53,562.20, gaining 153.05 points or 0.29% for the day.

Bagadia noted that on the daily timeframe, the formation of a bullish candlestick pattern reflects buying support emerging from lower levels and strengthening momentum in the banking index. The immediate support is placed in the 52,800–52,900 range, while resistance is seen in the 54,250–54,350 zone. The Relative Strength Index (RSI) stands at 41.29, indicating weak-to-neutral momentum though signs of gradual recovery are emerging from lower levels.

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Sumeet Bagadia's Stocks to Buy

Amid ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on Thursday, 21 May:

1. Mankind Pharma: Buy at ₹2584, Target ₹2800, Stop Loss ₹2465 Mankind Pharma is showing strong bullish momentum while maintaining a higher high–higher low formation, supported by rising EMA structure that reflects sustained strength in the ongoing trend.
2. Chennai Petroleum Corporation: Buy at ₹1012, Target ₹1090, Stop Loss ₹970 Chennai Petroleum Corporation is showing improving bullish momentum on the daily timeframe after forming a bullish engulfing pattern and closing above the previous two-day sideways consolidation range.
3. Zen Technologies: Buy at ₹1604, Target ₹1740, Stop Loss ₹1535 Zen Technologies is showing improving strength after delivering a sideways range breakout along with a close above crucial short-term EMAs, indicating revival in bullish momentum.
4. CRISIL: Buy at ₹4214, Target ₹4550, Stop Loss ₹4025 CRISIL is showing improving bullish momentum after delivering a falling trendline resistance breakout with a strong close above the breakout zone on the daily timeframe.
5. Bharat Heavy Electricals: Buy at ₹408, Target ₹445, Stop Loss ₹390 Bharat Heavy Electricals is maintaining a strong bullish structure with a consistent formation of higher highs and higher lows, indicating sustained upward momentum in the stock.