Stock Market Outlook: Sumeet Bagadia Identifies Five Key Equities for May 15, 2026
Indian Stock Market Sees Broad-Based Buying, Sensex Surges 790 Points
The Indian stock market witnessed a significant surge on Thursday, 14 May, driven by broad-based buying across most segments. The Sensex surged 790 points, or 1.06%, to close at 75,398.72, while the Nifty 50 gained 277 points, or 1.18%, to settle at 23,689.60.
Market Performance
| Index | Opening Price | Intraday High | Intraday Low | Closing Price | Gain/Loss |
|---|---|---|---|---|---|
| Nifty 50 | 23,530.25 | 23,777.20 | 23,426.55 | 23,689.60 | 277 points (1.18%) |
| Bank Nifty | 53,639.50 | 54,393.75 | 53,191.60 | 54,128.95 | 672.80 points (1.26%) |
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Sumeet Bagadia, Executive Director at Choice Broking, noted that the formation of a Morning Doji Star candlestick pattern indicates a bullish reversal setup and suggests that buying interest has emerged from lower levels. He also highlighted that the Relative Strength Index (RSI) stands at 45.86, indicating improving momentum, although it still remains below the stronger bullish zone.
Bank Nifty Performance
The Bank Nifty index opened with a gap-up at 53,639.50 and witnessed mild selling pressure in the early part of the session, marking its intraday low of 53,191.60. However, strong buying interest emerged thereafter, especially during the latter half of the session, pushing the index sharply higher towards its intraday high of 54,393.75. The index eventually settled at 54,128.95, gaining 672.80 points or 1.26% for the day.
Technical Analysis
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Bagadia noted that on the daily timeframe, the formation of a Morning Doji Star candlestick pattern indicates a potential bullish reversal from lower levels and improving sentiment in the banking space. He also mentioned that immediate support is placed in the 53,400–53,500 range, while resistance is seen in the 54,700–54,800 zone.
Stock Recommendations
Sumeet Bagadia recommends five shares to buy on Friday, 15 May:
- Indus Towers: Buy at ₹422, Target ₹456, Stop Loss ₹405
- RBL Bank: Buy at ₹337, Target ₹369, Stop Loss ₹321
- Adani Green Energy: Buy at ₹1414, Target ₹1550, Stop Loss ₹1350
- Natco Pharma: Buy at ₹1204, Target ₹1315, Stop Loss ₹1145
- Schneider Electric Infrastructure: Buy at ₹1315, Target ₹1435, Stop Loss ₹1250
These stocks are recommended based on their strong technical setup, including breakout from falling trend lines, bullish candle formations, and robust upward momentum. However, it is essential to maintain a strict stop loss to manage risk.
Investor Takeaway
Investors should consider buying stocks in the Indian market, driven by short covering and positive sentiment.
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