Buy or sell stocks: Benchmark indices Sensex and Nifty 50 ended marginally lower on Wednesday, May 27, marking their second straight session of losses, mainly weighed down by weakness in select heavyweight stocks such as HDFC Bank and ICICI Bank, even as mid- and small-cap shares continued to outperform.
The declined 142 points, or 0.19%, to close at 75,867.80, while the Nifty 50 slipped 7 points, or 0.03%, to settle at 23,907.15.
Stock market today
Nifty 50
On 27th May 2026, the opened with a gap-down of 33.35 points at 23,880.35, indicating a cautious start to the session. Despite the weak opening, buying interest emerged during the early part of the session, helping the index move higher and register its intraday high of 23,983.20 during the first half itself. However, the momentum failed to sustain at higher levels as profit booking emerged thereafter, dragging the index lower towards its intraday low of 23,858.25. In the final moments of the session, some buying interest returned, helping the index recover marginally and settle at 23,907.15, ending the day with a decline of 6.55 points or 0.03% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a gravestone doji-like candlestick pattern indicates indecisiveness at higher levels after the recent recovery. The long upper shadow reflects rejection from higher levels and suggests that selling pressure emerged whenever the index attempted to move higher.
“From a technical perspective, immediate support is placed in the 23,750–23,800 range, while resistance is observed between 24,050 and 24,100 levels. The Relative Strength Index (RSI) stands at 51.35, indicating neutral momentum with the index still holding above the psychological 23,900 zone. In the derivatives segment, notable call writing was seen at the 24,000 strike, followed by 24,200, while significant put writing was observed at 23,900 and 23,800 levels, indicating a broader consolidation range with immediate resistance placed near the 24,000 zone,” Bagadia said.
Bank Nifty
The Bank Nifty index opened with a gap-down of 99.95 points at 54,992.95, reflecting mild weakness in the banking space at the opening bell. Following the weak opening, buying interest emerged during the first half, helping the index move higher and register its intraday high of 55,221.70. However, profit booking emerged at higher levels thereafter, resulting in gradual weakness through the latter half of the session. The slipped towards its intraday low of 54,738.60 before eventually settling at 54,853.85, declining by 239.05 points or 0.43% for the day.
Bagadia noted that on the daily timeframe, the formation of a bearish candlestick pattern indicates profit booking emerging after the recent sharp recovery. The inability to sustain above higher levels reflects cautious sentiment prevailing in the banking segment.
“From a technical standpoint, immediate support is placed in the 54,500–54,600 range, while resistance is seen in the 55,100–55,200 zone. The Relative Strength Index (RSI) stands at 51.35, indicating neutral momentum with the index consolidating after recent volatility. Sustaining above immediate support levels will remain important for maintaining stability in the near term,” Bagadia said.
He further advised traders to closely monitor immediate resistance and support zones, as sustained movement beyond these levels will be crucial in determining the next directional trend in the market, as price action suggests a range-bound and volatile trading session with both benchmark indices failing to sustain gains at higher levels after witnessing buying interest during the first half.
Profit booking in the latter half restricted further upside momentum, leading to subdued closing levels. Despite the muted movement in benchmark indices, broader market participation remained relatively stable while volatility eased sharply, reflecting reduced near-term market anxiety, he said.
Sumeet Bagadia’s stocks to buy
Amid ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on Friday, 29 May: Welspun Corp, Ola Electric Mobility, Granules India, Chennai Petroleum Corporation, and IDFC First Bank.
1] Welspun Corp: Buy at ₹1373, Target ₹1485, Stop Loss ₹1315
Welspun Corp share price is trading around 1373, demonstrates a remarkably strong bullish continuation pattern on the daily chart, staging a powerful rally and testing its recent overhead highs with supportive volume. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 69, indicating accelerating upward momentum and intense buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 1485. To effectively manage downside risk, a strict stop loss should be maintained at 1315.
2] Ola Electric Mobility: Buy at ₹39.24, Target ₹43, Stop Loss ₹37.35
Ola Electric Mobility share price is currently trading at 39.24, displays a strong structural recovery on the daily chart, steadily forming a solid accumulation base and pushing upward with supportive volume. The stock has successfully reclaimed its key 20, 50, and 100-day exponential moving averages, signalling a highly positive shift in medium-term momentum as it approaches the long-term 200-day EMA resistance. Concurrently, the daily relative strength index is rising comfortably near 63, confirming robust upward velocity and expanding buyer commitment. Backed by this constructive trend reversal, the stock is well positioned to advance toward its next structural target of 43. To protect capital effectively, a strict stop loss should be maintained at 37.35.
3] Granules India: Buy at ₹783, Target ₹850, Stop Loss ₹747
Granules India share price is currently trading at 783, demonstrates a remarkably strong bullish continuation pattern on the daily chart, staging a powerful rally with a decisive breakout candle accompanied by a massive surge in volume. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 72, indicating accelerating upward momentum and intense buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 850. To effectively manage downside risk, a strict stop loss should be maintained at 747.
4] Chennai Petroleum Corporation: Buy at ₹1053, Target ₹1135, Stop Loss ₹1000
Chennai Petroleum Corporation share price is currently trading at 1053, displays a constructive structural recovery on the daily chart, steadily building a baseline and pushing upward with supportive volume. The stock has successfully reclaimed its key 20 and 50-day exponential moving averages, signalling a positive shift in short-to-medium term momentum as it challenges higher overhead resistance. Concurrently, the daily relative strength index is rising comfortably near 55, confirming a steady influx of buying interest without entering overextended market conditions. Backed by this improving technical architecture, the stock is well positioned to advance toward an upside target of 1135. To effectively manage downside risk, a strict stop loss should be maintained at 1000.
5] IDFC First Bank: Buy at ₹71.48, Target ₹77.50, Stop Loss ₹68.50
IDFC First Bank share price is trading around 71.48, reveals a compelling structural shift on the daily chart, breaking out from its recent base with supportive trading volume. The price action has confidently cleared its key 20 and 50-day exponential moving averages, confirming a fresh short-to-medium term bullish reversal as it begins to challenge the higher overhead EMA resistances. Concurrently, the relative strength index is rising steadily near 63, indicating strengthening upward velocity and renewed market commitment. Driven by this constructive pattern breakout, the asset is technically well aligned to target the 77.5 level. To guard against potential market fluctuations, a strict stop loss should be maintained at 68.5.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.