Stock Picks: Analyst Sumeet Bagadia Identifies Five Shares for Investors to Consider - April 28, 2026

Stock Market Rallies as Investor Sentiment Improves

The Indian stock market witnessed a significant turnaround on Monday, April 27, as benchmark indices rose by around 1% and broke a three-day losing streak. The gains were primarily driven by a rebound in IT stocks, with strong support from pharma and consumer goods shares. The broader market also followed suit, with the Nifty Midcap 100 and Nifty Smallcap 100 indices surging more than 1.5%.

The Nifty 50 index opened on a flat-to-positive note at 23,945.45 and traded within a narrow range throughout the session, marking an intraday low of 23,936.20 and a high of 24,130.70. The index maintained a positive bias during the day and eventually closed near the higher end of the range at 24,092.70.

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According to Sumeet Bagadia, Executive Director at Choice Broking, the formation of an inside bar with a bullish bias on the daily timeframe indicates consolidation with a slight positive undertone, suggesting that buyers are gradually attempting to regain control. Bagadia noted that immediate support is placed in the 23,900–23,950 range, while resistance is observed between 24,300 and 24,350 levels. The Relative Strength Index (RSI) stands at 51.98, hovering near the midpoint of 50, indicating neutral momentum with a mild positive bias.

The Bank Nifty index opened on a flat note at 56,162.60 and traded within a defined range during the session, marking an intraday low of 55,911.10 and a high of 56,474.95. The index witnessed mild buying at lower levels but lacked strong follow-through, eventually closing at 56,264.30, gaining 174.55 points or 0.31% for the day. Bagadia noted that the formation of a Doji-like candlestick pattern indicates indecision among market participants, reflecting a balance between buyers and sellers.

Bagadia recommended traders to stay selective and rely on price confirmation around key levels before initiating fresh positions as recent price action suggests a range-bound session with a slight positive bias, supported by selective buying and easing volatility.

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Sumeet Bagadia's top picks for Tuesday, April 28, include:

1. Zen Technologies: Buy at ₹1719.70, Target ₹1840, Stop Loss ₹1659 The stock has confirmed a breakout from a short-term rounding bottom pattern by surpassing the key resistance level of ₹1650, followed by a successful retest of this breakout zone, indicating strength and potential continuation of the upward trend.
2. Fortis Healthcare: Buy at ₹953.8, Target ₹1021, Stop Loss ₹920 The stock has broken out above a falling wedge pattern, supported by the formation of a strong bullish candle, which indicates renewed buying interest and the potential for continued upward momentum.
3. Rites: Buy at ₹222.38, Target ₹238, Stop Loss ₹214 The stock has witnessed a strong reversal from lower levels, rallying nearly 27%, which reflects a notable improvement in sentiment and buying interest.
4. Nykaa: Buy at ₹269.20, Target ₹290, Stop Loss ₹259.7 The stock has reversed from the lower boundary of a broadening rising wedge pattern, suggesting a potential shift in momentum and the emergence of buying interest.
5. Jbm Auto: Buy at ₹628.75, Target ₹675, Stop Loss ₹606 The stock has delivered a strong reversal from lower levels, gaining nearly 35%, which indicates a clear improvement in market sentiment and increased buying interest.