Stock Market Outlook: Analyst Sumeet Bagadia Identifies Five Shares for Short-Term Investment on June 1, 2026

Indian Equity Market Sees Volatility, Ends Lower

The Indian equity market experienced significant volatility during the week, with both the benchmark indices registering losses for the third consecutive session. As a result, the Nifty 50 fell 0.72% to settle at 23,547.75, while the Sensex dropped 0.85% to close at 74,775.74.

However, the broader market remained relatively resilient, with the mid-cap index gaining 0.54% and the small-cap index advancing 1.20%, indicating sustained investor interest in select stocks outside the large-cap segment. The Nifty 50 opened with a marginal gap-down of 5 points at 23,902.15 on May 29, 2026, reflecting a cautious start to the session. The index registered its intraday high of 24,002.80 within the first few minutes of trade but was dragged lower throughout the session due to sustained selling pressure.

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The weakness intensified during the latter half of the session, with the index slipping towards its intraday low of 23,484.75 in the final few minutes of trade before eventually settling at 23,547.75. The close near the intraday low reflects weakness in short-term momentum and suggests that sellers remained dominant across the day.

According to Sumeet Bagadia, Executive Director at Choice Broking, the formation of a bearish candlestick pattern on the daily timeframe indicates sustained selling pressure throughout the session. The Relative Strength Index (RSI) stands at 43.37, indicating weakening momentum and a cautious undertone in the near term.

Immediate support is placed in the 23,200–23,250 range, while resistance is observed between 23,750 and 23,800 levels. The Bank Nifty index opened with a gap-down of 105.55 points at 54,748.30, reflecting weakness in the banking space at the opening bell.

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The index witnessed some buying interest initially and registered its intraday high of 55,184.45 during the first half of the session but failed to sustain at elevated levels due to continuous selling pressure. The weakness persisted throughout the latter half of the session, dragging the index towards its intraday low of 54,116.15 in the final few minutes of trade before eventually settling at 54,239.20.

According to Bagadia, the formation of a bearish candlestick pattern on the daily timeframe indicates persistent selling pressure and weakness in the banking segment. The close near the day’s low reflects cautious sentiment and lack of sustained buying support at higher levels.

Immediate support is placed in the 53,900–54,000 range, while resistance is seen in the 54,800–55,000 zone. The Relative Strength Index (RSI) stands at 46.91, indicating weakening momentum though the index still trades near the neutral zone.

Broader market sentiment remained negative, with declining stocks significantly outnumbering advancing stocks, indicating widespread weakness across sectors. Most sectoral indices traded in the red, with notable pressure visible in Auto, Metal, Oil & Gas, Financial Services, Pharma, and Consumer-related sectors, while selective resilience was seen in the IT segment.

Sumeet Bagadia's Stocks to Buy

Amid ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on June 1:

1. Acme Solar Holdings: Buy at ₹310, Target ₹335, Stop Loss ₹298 Acme Solar share price is trading around 310, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support.
2. Capri Global Capital: Buy at ₹198, Target ₹215, Stop Loss ₹189 Capri Global Capital share price is currently trading at 198, showcases a strong bullish structure on the daily chart, staging a sharp recovery from its short-term consolidation with supportive volume.
3. Syrma SGS Technology: Buy at ₹1089, Target ₹1185, Stop Loss ₹1035 Syrma SGS Technology share price is currently trading at 1089, demonstrates a strong bullish structure on the daily chart, staging a sharp recovery from its short-term pullback with steady volume support.
4. Vijaya Diagnostic Centre: Buy at ₹1308, Target ₹1425, Stop Loss ₹1245 Vijaya Diagnostic Centre share price is currently trading at 1308, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support.
5. Neogen Chemicals: Buy at ₹1858, Target ₹2000, Stop Loss ₹1777 Neogen Chemicals share price is trading around 1858, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support.