Sudeep Shah's Market Analysis: Sectoral Index Poised for Further Gains, Plus 2 Top Stock Recommendations for Next Week
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Chartist Talk: Sudeep Shah Bullish on Defence Index, Picks ABB & NALCO for Next Week
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Moneycontrol•08-03-2026, 06:58
Chartist Talk: Sudeep Shah Bullish on Defence Index, Picks ABB & NALCO for Next Week
•Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, sees the Nifty India Defence index extending gains due to strong technical and momentum setup.
•He recommends ABB India and National Aluminium Company (NALCO) as top stock picks for the upcoming week, citing strong buying pressure and upside potential.
•Nifty 50 faces technical fragility amid rising US-Iran geopolitical tensions, surging Brent crude prices, and a weakening Indian rupee.
•Bank Nifty shows a bearish trend, having tumbled 4.54% last week and now approaching its crucial 200-day EMA support zone of 57,500–57,400.
•Defence stocks like Mazagon Dock Shipbuilders and Bharat Dynamics are expected to continue their uptrend, supported by a strong sectoral breakout and renewed bullish momentum.
