Stock Picks from Sumeet Bagadia: Five Recommendations for 18 May 2026
Indian Stock Market Sees Selling Pressure Amid Global Cues and Crude Oil Price Hike
The Indian stock market witnessed a decline on Friday, May 15, as the benchmark indices Sensex and Nifty 50 snapped their two-day winning run. The Sensex fell 161 points, or 0.21%, to end at 75,237.99, while the Nifty 50 slipped 46 points, or 0.19%, to close at 23,643.50.
On the same day, the Nifty 50 opened with a gap-up at 23,731.40, indicating a positive start to the session. However, selling pressure emerged from higher levels, dragging the index lower towards an intraday low of 23,610.30 in the second half. The index eventually settled at 23,643.50, registering a decline of 46.10 points or 0.19% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, the formation of a bearish candlestick pattern indicates profit booking at higher levels and cautious sentiment among market participants. Bagadia noted that immediate support is placed in the 23,450–23,500 range, while resistance is observed between 23,850 and 23,900 levels.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
The Bank Nifty index also saw a decline, falling by 418.60 points or 0.77% for the day. The index opened with a gap-up at 54,207.75 and registered its intraday high of 54,325.45 during the first half of the session. However, sustained selling pressure emerged, dragging the index lower towards an intraday low of 53,628.30 in the second half. The index eventually closed near its day’s low at 53,710.35.
| Index | Previous Close | Current Close | Points Change |
|---|---|---|---|
| Nifty 50 | 23,689.60 | 23,643.50 | -46.10 |
| Bank Nifty | 54,129.00 | 53,710.35 | -418.60 |
Bagadia advised traders to remain selective and monitor key support zones closely, as sustained weakness below these levels could trigger further downside pressure in the near term.
In light of the ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on Monday, 18 May: Samvardhana Motherson International, Indo Count Industries, Healthcare Global Enterprises, Grindwell Norton, and Hindustan Oil Exploration Company.
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Sumeet Bagadia's Stocks to Buy
- Samvardhana Motherson International: Buy at ₹130, Target ₹140, Stop Loss ₹124.50
- Indo Count Industries: Buy at ₹290, Target ₹315, Stop Loss ₹277
- HealthCare Global Enterprises: Buy at ₹637, Target ₹690, Stop Loss ₹607
- Grindwell Norton: Buy at ₹1859, Target ₹2000, Stop Loss ₹1780
- Hindustan Oil Exploration Company: Buy at ₹169, Target ₹185, Stop Loss ₹160
Investor Takeaway
Investors should be cautious and consider profit booking due to weak global cues and rising crude oil prices.
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