As India's financial markets crossed the threshold of a new fiscal year, one analyst paused to read the patterns written in price and volume — and found reason for measured optimism. Sumeet Bagadia of Choice Broking identified three stocks that had endured consolidation and emerged with renewed momentum, offering traders a structured path into a market that had just broken to higher ground. In the oldest rhythm of markets, these were stories of patience tested and pressure released.
Analyst picks Bajaj Finserv, Power Grid, Divi's Lab as buys ahead of new fiscal year
Fresh capital flowing into the largest companies, pushing toward new highs
Mark
So the market had a strong day Thursday. What made Bagadia think these three stocks specifically were ready to move?
Mimi
They all showed the same pattern—they'd been stuck in tight ranges for weeks or months, then broke out with volume behind them. That's the technical signal that says real money is moving in.
Luke
But we should be clear: this is one analyst's reading of price charts. The RSI levels, the moving averages, the doji pattern—these are all technical indicators. They're not predictions. They're patterns that have worked sometimes and failed other times.
Mark
Fair point. So what's the risk here?
Mimi
That's why each recommendation comes with a stop-loss. If Bajaj Finserv drops below ₹1,580, you're out. Power Grid below ₹258, Divi's below ₹3,330. The idea is you're risking a known amount to make a larger gain.
Luke
Right, but those stop-losses assume you can actually sell at those prices when the market moves. In a sharp selloff, you might get filled lower. And we don't know how much of the recent strength is just end-of-fiscal-year window dressing versus genuine buying interest.
Mark
What about the broader market? Bagadia thinks Nifty is heading to 22,700 to 23,200. Is that realistic?
Mimi
He's saying the index has momentum and the technical setup looks bullish. But again, that's his reading of the charts.
Luke
And it's worth noting that all three stocks are already trading above their moving averages. They're not cheap. You're buying momentum, not value. That works until it doesn't.
The Pulse
- The Nifty 50 surged 203 points on the final session of the fiscal year, signaling that the long weeks of narrow, directionless trading may finally be giving way to a broader advance.
- Fresh capital appears to be rotating into large-cap benchmark stocks, with Bagadia projecting the Nifty could climb as high as 23,200 in the near term — a meaningful leap from Thursday's close.
- Bajaj Finserv, Power Grid Corporation, and Divi's Laboratories each broke out of defined consolidation ranges, with volume confirming the moves and momentum indicators pointing toward further upside.
- Divi's Laboratories carries the sharpest reversal signal — a dragonfly doji on the weekly chart and an RSI rebounding from near-oversold territory, suggesting a genuine shift in sentiment rather than noise.
- Each recommendation arrives with precise entry zones, price targets, and stop-losses, grounding the bullish outlook in risk discipline as the new fiscal year opens.
As India's financial markets crossed the threshold of a new fiscal year, one analyst paused to read the patterns written in price and volume — and found reason for measured optimism. Sumeet Bagadia of Choice Broking identified three stocks that had endured consolidation and emerged with renewed momentum, offering traders a structured path into a market that had just broken to higher ground. In the oldest rhythm of markets, these were stories of patience tested and pressure released.
India's equity markets closed Thursday with broad-based strength, capping the fiscal year on an assertive note. The Nifty 50 added 203 points to settle at 22,326, the Sensex climbed 655 points, and gains extended into mid- and small-cap segments — a sign that the rally carried some depth beneath the headline numbers.
Sumeet Bagadia, executive director at Choice Broking, read the move as more than a single session's enthusiasm. He saw fresh institutional capital entering the market's largest names and projected the Nifty could advance toward the 22,700–23,200 range in the weeks ahead. With the new fiscal year beginning Monday, he turned his attention to three stocks he believed were technically primed to move.
Bajaj Finserv, trading near ₹1,644, had just emerged from a months-long consolidation band and was holding above its 20-, 50-, and 200-day moving averages on rising volume. Bagadia set a target of ₹1,740 with a stop-loss anchored near the 200-day average at ₹1,580. Power Grid Corporation had rebounded from support around ₹258 and was approaching minor resistance at ₹283 — a level Bagadia believed, once cleared, could propel the stock toward ₹298. His stop-loss sat at the prior support zone.
Divi's Laboratories offered perhaps the most compelling reversal setup. The stock had bounced sharply from ₹3,330, volume surged on the recovery, and the RSI swung upward from near-oversold levels. A dragonfly doji on the weekly chart — a candlestick pattern associated with turning points — added technical weight to the case. Bagadia targeted ₹3,650 once the stock cleared resistance near its 50-day moving average.
What united all three calls was structure: defined support levels that had held, breakouts confirmed by volume, and momentum indicators with room to run. Each trade came packaged with entry points, targets, and stop-losses — the architecture that transforms a market opinion into a manageable risk.
The Indian stock market closed Thursday with decisive upward momentum as traders moved into the final session of the fiscal year. The Nifty 50 index climbed 203 points to settle at 22,326, while the Sensex surged 655 points to 73,651. The Bank Nifty jumped 338 points to 47,124. Smaller stocks participated in the rally as well—the small-cap index gained 0.33 percent and the mid-cap index rose 0.62 percent. After weeks of narrow trading ranges, the market had finally broken through to higher ground.
Sumeet Bagadia, an executive director at Choice Broking, saw the move as the beginning of something larger. He believed fresh capital was flowing into the largest companies in the benchmark indices, and that the Nifty 50 had gathered enough strength to push toward new highs. His near-term target placed the index between 22,700 and 23,200—a zone that would represent meaningful gains from Thursday's close.
With the new fiscal year beginning Monday, Bagadia identified three stocks he believed were positioned to move higher. Bajaj Finserv was trading at ₹1,643.85, having recently broken out of a months-long consolidation band between ₹1,640 and ₹1,666. The stock sat above its 20-day, 50-day, and 200-day moving averages, all signals of underlying strength. Trading volume had picked up, reinforcing the bullish case. Bagadia recommended buying at the current market price or adding on any dip toward ₹1,620, with a target of ₹1,740 and a protective stop-loss at ₹1,580—a level that also aligned with the 200-day moving average.
Power Grid Corporation was trading at ₹276.90 after rebounding from support around ₹258. The stock had consolidated in a range between ₹268 and ₹258 before climbing higher, and it too was trading above all three key moving averages. The momentum indicator RSI stood at 52.45, suggesting room for further upside. Bagadia saw minor resistance at ₹283 and believed a decisive break through that level could trigger a sharp move toward ₹298 and beyond. He recommended buying at current levels or on dips near ₹267, with a stop-loss at ₹258.
Divi's Laboratories had rebounded convincingly from support at ₹3,330 to trade at ₹3,436.75, a move accompanied by substantial trading volume. The RSI had reversed sharply upward from a low of 32 to 41.76, signaling a shift in momentum. The weekly chart showed a dragonfly doji pattern, a candlestick formation that often marks a turning point. Minor resistance appeared at ₹3,540, near the 50-day moving average. Once the stock cleared that hurdle, Bagadia expected it to climb toward ₹3,650 and higher. He recommended buying at current levels with a stop-loss at ₹3,330.
All three recommendations shared a common thread: stocks that had found support, broken out of consolidation, and were now trading above their key moving averages with positive momentum indicators. Each came with specific entry points, targets, and stop-losses—the mechanical discipline that separates a hunch from a trading plan. The recommendations arrived as the market entered a new fiscal year, a moment when fresh capital often flows into equities and technical breakouts can accelerate.
Notable Quotes
Nifty 50 index has gained strength and the frontline index is looking set to climb a new peak in the near term, with the index expected to enter the 22,700 to 23,200 zone— Sumeet Bagadia, Executive Director, Choice Broking
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