Aniket PujariBuy or sell: The Indian stock market benchmarks, the Sensex and the Nifty 50, closed with healthy gains for the second straight session on Friday, December 12, buoyed by buying in metal shares and positive global trends following the rate cut by the US Federal Reserve.
The 30-share BSE Sensex climbed 449.53 points or 0.53% to settle at 85,267.66. During the day, it jumped 502.69 points or 0.59% to 85,320.82. However, for the week, indices logged a 0.5% weekly fall, as investors booked profits near record highs during the initial three sessions.
Stock market next week
Commenting on the stock market outlook for next week, Sumeet Bagadia, Executive Director at Choice Broking, said the Indian stock market sentiment has improved as the Nifty 50 index sustained above 26,000 levels after breaking above this psychological level.
“The 50-stock index is all set to touch 26,300 if it opens above the 26,000 levels on Monday. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart,” he advised.
Stocks to buy on Monday
Regarding stocks to buy next week, Sumeet Bagadia recommended these three stocks to buy: Eternal, Maruti Suzuki and Nestle.
Eternal | Buy at ₹298 | Target: ₹320 | Stop loss: ₹287
Eternal has been under consistent selling pressure over the past several weeks, with the stock correcting sharply from its earlier highs near the 360 zone.
The broader structure has weakened after forming a series of lower highs and lower lows, reflecting sustained bearish momentum. However, the stock has recently taken support near the 279–280 zone, which aligns closely with the 200-day EMA (around 287) — a critical long-term support area.
From a technical standpoint, ETERNAL is currently trading below the 50 and 100 EMAs, all of which are sloping downward, confirming a short-term bearish trend. These moving averages are acting as dynamic resistance, limiting any meaningful upside attempt. Despite the corrective trend, the latest candle shows a strong bounce from the 200-day EMA, indicating early signs of accumulation at lower levels. Volume also picked up during the rebound, suggesting buyers are showing interest around support.
The immediate support for the stock lies near 287, which has held well and triggered the current pullback from the 200-day EMA. A breakdown below this zone could drag the stock toward 270 levels. On the upside, the first major resistance is around 305–308, where the 50-day and 100-day EMAs converge, likely to create supply pressure. A close above these levels would confirm a short-term trend reversal.
Maruti Suzuki | Buy at ₹16522 | Target: ₹17500 | Stop loss: ₹16050
Maruti continues to show strong bullish momentum, with the stock maintaining a firm uptrend over the past several months. After a healthy consolidation phase, the price has resumed its upward movement, supported by a series of higher highs and higher lows — a classic sign of sustained strength in the broader structure. The recent bounce from the 15,500–15,600 support zone, which aligns with the rising 50-day EMA (around 15,836), indicates strong demand at lower levels.
From a technical standpoint, Maruti is currently trading above the key EMAs, all of which are sloping upward — clearly confirming a robust bullish trend. The EMAs are acting as dynamic support zones, consistently absorbing selling pressure and keeping the trend intact. The latest candle shows a powerful breakout-type move, with the price surging toward the 16,500 zone accompanied by healthy volumes, signalling renewed buyer dominance.
The immediate support for the stock lies near 16,050 where the 20-day EMAs converge, providing strong downside protection. As long as MARUTI holds this zone, the momentum remains firmly in favour of the bulls. On the upside, a sustained move above 16,600 could open the doors for an extension of the rally toward the 17,000–17,500 levels.
Nestle India | Buy at ₹1238 | Target price: ₹1330 | Stop loss: ₹1200
Nestle India has recently been facing some downward pressure, with the stock correcting from its recent highs near the 1,280–1,290 zone. Despite this short-term weakness, the overall structure still shows resilience, as the stock has taken strong support around the 1,200–1,205 zone, which aligns closely with the 200-day EMA (around 1,203) — a key long-term support that buyers have defended well.
From a technical standpoint, Nestle India is currently trading near the cluster of key EMAs, indicating a phase of consolidation rather than a trend breakdown. The EMAs are relatively flat, signalling that the stock is in a mid-range accumulation phase. The recent price action shows a sharp intraday recovery, with the price bouncing strongly above the 1,220–1,225 region and closing near 1,238. This rebound, supported by strong volume, suggests renewed buying interest at lower levels.
The immediate support for the stock lies near 1,200–1,205, where the 200-day EMA is positioned and where the stock has consistently found demand. As long as Nestle India sustains above this zone, the downside remains protected. On the upside, immediate resistance is seen near the 1,245–1,250 range, where the 20-day EMA sits. A decisive close above this area may open the path toward 1,300–1,330, completing a short-term recovery structure.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
