by Mr. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
🕗 Last Updated: 14 May 2026, 8.00 PM
Analysis for 15 May 2026
After showing lower levels recovery with high volatility on Wednesday, Nifty witnessed an excellent comeback on Thursday and closed the day higher by 277 points. After opening on a positive note, the market showed choppy movement in the early part of the session. Sharp intraday buying has emerged after 11am and the upside continued for rest of the session.
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A long bull candle was formed on the daily chart, which indicates short term reversal in the market on upside. Nifty is now placed at the crucial hurdle of 23800 (previous swing lows as per the concept of change in polarity) and a sustainable move above this hurdle could open more upside towards 24500 levels in the near term. Immediate supports to be watched around 23500 levels.
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Stock recommendations by Nagaraj Shetti
Stock Recommendations by Nagaraj Shetti (HDFC Securities)
Senior Technical Analyst Nagaraj Shetti has identified a select group of stocks showing strong chart setups and momentum for short-term traders.
According to him, the near-term market structure remains supportive for selective long positions, especially in scrips showing breakouts above key resistance levels and higher-high formations on the daily chart.
Shetti recommends traders focus on stocks with rising volumes and bullish crossover patterns on the short- and medium-term moving averages.
He advises maintaining strict stop-loss levels and booking partial profits near resistance bands.
These recommendations are part of his latest weekly outlook published in Chanakya Ni Pothi, providing guidance on potential outperformers for the coming sessions.