Power Grid, Dixon Technologies, PNB Housing Finance and more; Bullish stocks for next week
Power Grid, Dixon Technologies, PNB Housing Finance and more; Bullish stocks for next week
As global uncertainties and volatile bond yields continue to weigh on investor sentiment, Sudeep Shah, Deputy Vice President and Head of Technical & Derivative Research at SBI Securities, advises a cautious, stock-specific approach for the week ahead.
FII Caution Dominates
Foreign Institutional Investors (FIIs) remain defensive, with 74.64% of their index futures positions on the short side. Month-to-date, they’ve been net sellers to the tune of ₹34,641.79 crore. Until global trade tensions ease and bond yields stabilize, Shah expects this cautious positioning to persist.
Key Nifty & Bank Nifty Levels
Nifty Support: 22,550–22,600
Nifty Resistance: 23,050 (50-day EMA). A move beyond this could open up levels of 23,300 and 23,500.
Bank Nifty Outlook: Strong relative outperformance; support at 50,500–50,400 and resistance at 51,500–51,600. A breakout could target 52,500–53,100.
Top Stock Picks for Next Week
Power Grid Corp
Strong bullish momentum, RSI & MACD in positive territory
Buy zone: ₹305–₹300 | Target: ₹325 | Stop-loss: ₹293
Poonawalla Fincorp
Trading above key moving averages, RSI in super bullish zone
Buy zone: ₹368–₹364 | Target: ₹390 | Stop-loss: ₹355
PI Industries
Breakout above downward trendline, strong volumes, RSI rising
Target: ₹4,000 | Support: ₹3,470–₹3,480
Dixon Technologies
Near breakout above trendline and 100-day EMA; strong early volume
Resistance zone: ₹14,400–₹14,500 | Breakout could trigger sharp upside
PNB Housing Finance
Outperforming, forming higher tops & bottoms, RSI bullish
Likely to extend gains in the upcoming sessions
Stocks to Avoid
CG Power — Still in a downtrend, trading below moving averages. Shah recommends steering clear for now.
Key Takeaway
While market volatility remains high, selective stock opportunities are emerging. Focus on strong technical setups and avoid aggressive index positions until clarity returns on the macro front.
Disclaimer: Always consult a certified financial advisor or investment expert before making any financial or stock market decisions.
