Stock market recommendations:

According to Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities, the top stock picks for this week are Narayana Hrudayalaya, and Indigo. Here’s his view on Nifty, Bank Nifty for the week starting November 24, 2025:

Nifty View

“When the tide begins to rise but only a few boats lift with it, the ocean is hinting at a deeper story.”That’s the pulse of the Indian market right now. The Nifty index is hovering near fresh record highs — a stage typically filled with celebration and broad market excitement. Yet this time, the cheer appears confined to a select group of heavyweights. The rally looks impressive in headlines, but on the trading floor, the mood feels uneven like the market is trying to climb higher without full support from its players.Dig a little deeper and the picture shifts. Midcaps and Smallcaps — the segments that generally add strength and breadth to a bull run are undergoing a corrective phase. Their weakness signals that the ongoing upside may be missing the widespread participation needed for a truly robust trend. This split between the index and the broader market prompts a key question: Are we witnessing a genuine, healthy breakout, or is the shine of all-time highs hiding growing vulnerabilities?The broader market is clearly flashing caution. A strong and durable rally is built when leadership and breadth move in harmony — where frontline stocks lead and the broader universe keeps pace. Currently, strength remains concentrated in a handful of index majors, while a large set of stocks still struggles to find footing. This imbalance suggests that conviction is far from unanimous. The coming few trading sessions become critical — especially to monitor whether Midcaps and Smallcaps can stabilize and rejoin the upside, as their tone often determines the real depth of the trend.In the near term, the zone of 25900–25850 will be a crucial support cushion for Nifty. As long as the index holds above 25850, the upside structure remains intact, with potential moves toward 26300 and 26500 on the cards. For now, the index may be celebrating near the peak — but only the broader market’s behavior in the days ahead will reveal whether this climb transforms into a full-fledged bull run or stays a selective ascent wearing a bullish mask.

Bank Nifty View

Bank Nifty has been the standout performer in recent sessions, consistently leading the market with strong upward momentum and marking fresh all-time highs for four consecutive days. This robust advance underlines the strength and leadership of banking stocks within the current market environment.But Friday’s session signaled a temporary halt, as profit booking drove the index back below the 59000 mark. This pullback resulted in the formation of a Shooting Star candlestick on the weekly chart — a well-known bearish reversal pattern that often emerges near the top of an uptrend. The long upper wick reflects an initial bullish push that was ultimately overpowered by selling pressure, highlighting fatigue in buying interest at elevated levels.Momentum indicators are also hinting at caution. The RSI has slipped below its 9-day EMA, and both are pointing downward. A bearish divergence on the daily timeframe further supports the view of a potential near-term cooling phase. Collectively, these signals indicate that the index may shift into consolidation mode before attempting another breakout.From a levels perspective, 58600–58500 is the immediate support zone to watch. A decisive close below 58500 could accelerate weakness toward 57700. On the flip side, 59200–59400 stands as the first major barrier for the bulls. Only a sustained move above 59400 would invalidate the current cautionary signals and reopen the path for a continued northward move.In short, Bank Nifty remains structurally strong — but short-term fatigue calls for a vigilant approach in the coming sessions.

Stock recommendations:

Narayana Hrudayalaya

Since early August, NH had been consolidating in a 1863–1693 range. On 17th November, the stock delivered a strong breakout above this zone, backed by a sharp spike in volumes, indicating aggressive buying interest. Post breakout, NH has continued to move steadily higher, showing sustained strength. The rising MACD histogram bars indicate that bullish momentum is building on the upside. Meanwhile, the ADX has inched marginally above 25, signalling that a strong trend is beginning to form. Overall, the price action combined with improving momentum indicators suggests that the stock is well-positioned for further upside. Hence, we recommend accumulating the stock in the zone of 2050-2030 with a stoploss of 1960. On the upside, it is likely to test the level of 2200 in the short term.

Indigo

Indigo (Interglobe Aviation) has been rising steadily after taking strong support near its 100-day EMA around 5685–5690 three sessions ago. The RSI has climbed from 49 on 18th November to 55 on 21st November, indicating improving bullish momentum as buyers regain control. In the ADX indicator, the +DI crossing above –DI signals that buying strength is now dominating over selling pressure. The combination of a rebound from a key moving-average support and strengthening momentum indicators suggests that the stock is well-positioned for further upside, with the recent bounce likely marking the start of a short-term positive phase. Hence, we recommend to accumulate the stock in the zone of 5850-5800 with a stoploss of 5660. On the upside, it is likely to test the level of 6250 in the short term.

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)