Best stocks to buy (AI image)
Stock market recommendations: Novama Wealth Management Ltd., and RR CAPELL LIMITED Selected as top Stocks to buy In the week of June 1 to June 5, 2026 By Sudip Shah, Head, Technical Research & Derivatives, SBI Securities:NOVAMA WEALTH MANAGEMENT LIMITEDNUVAMA has made an impressive recovery after gaining support near the 20-day EMA on May 18, rising nearly 10.5% from its lows. The stock continues to show strong bullish characteristics, with the RSI still above the 60 mark, highlighting healthy momentum and continued buying interest.On the weekly chart, the MACD histogram bars are rising along with the MACD line trading above both the signal line and the zero line enhancing the positive outlook. In addition, the stock remains firmly positioned above its key short- and long-term moving averages on the daily and weekly charts, indicating trend strength. As long as the momentum continues, the stock is likely to continue its upward trajectory. Hence, we recommend accumulating the stock in the 1550-1560 area with stop loss at 1505.
On the upside, it is likely to test 1665 in the short term.RR CAPELL LIMITEDRRKABEL made a strong consolidation breakout on May 29 after trading within the 2049-1886 range since May 8. The breakout was supported by a sharp rise in volumes, indicating strong buying engagement at higher levels. Momentum indicators continue to remain strongly positive, with the RSI still above the 60 mark on the daily and weekly charts, reflecting strong upward momentum.
Adding to the strength, the ADX indicator crossed the 25 level on the weekly chart, indicating improved trend strength and stronger buyer dominance.
The stock also closed above its highs over the past two weeks, indicating continued bullish intent. Overall, the price structure suggests that the stock is well positioned to continue its upward trajectory in the near term. Hence, we recommend accumulating the stock in the 2050-2060 area with stop loss at 1995.
On the upside, it is likely to test the 2200 level in the short term.Elegant viewIn May, the benchmark Nifty traded within a narrow range of 1,219 points, representing its narrowest monthly range since December 2025. A notable feature over the month was the frequent occurrence of gap-up or gap-down openings, followed by largely range-bound intraday movements. Despite these gaps, intraday and short-term trading opportunities for participants remained limited.
What stood out most was the underlying message reflected in the broader monthly price structure.On the monthly chart, the Nifty has formed a bearish candle with shadows on both sides, highlighting hesitation among market participants amid continued geopolitical uncertainty. A closer look at the last week of May shows that the index remained within a range for most of the period before seeing a sharp sell-off in the final hour of Friday’s session, shifting the bias slightly in favor of the bears.
This late decline raises an important question – whether this is just profit taking or the beginning of a more meaningful directional movement.Technically, the Nifty continues to trade below its major moving averages, which have now stabilized, indicating no strong trend. Momentum indicators further reinforce this view, with the daily RSI hovering in a sideways zone according to the RSI range shifting framework and the Stochastic oscillator moving within a narrow range.
In addition, the daily ADX, which is currently near the 15 mark and trending down, indicates weakening trend strength.
While these signals point to no clear trend, Friday’s sell-off introduced a new layer of uncertainty.From a levels perspective, the 20-day EMA area at 23,750-23,800 is expected to act as immediate resistance on the upside. On the downside, the 23300-23250 area remains a major support area.
A break below the 23,250 level could intensify the selling pressure and lead to a possible decline towards the crucial psychological level of 23,000. With the index approaching important support levels, the next step will be crucial in shaping the market trend in the near term.Elegant presentation of the bankIn May, the benchmark Bank Nifty traded within a relatively narrow range of 3,550 points, representing the narrowest monthly range since January 2026.
On the monthly chart, the indicator formed a high wave candle, reflecting indecision among market participants and highlighting the lack of conviction in either direction.Over the past week, Bank Nifty witnessed a strong upward movement during the first half. However, it struggled to stay above the 55,500 level and eventually faced a sharp correction. This price action created a bearish candle with a long upper shadow, indicating selling pressure at higher levels and rejection near resistance.Technically, the index is currently trading below its major moving averages, all of which are sloping downward, indicating weakness. Momentum indicators also reinforce this view, as the daily RSI remains range bound in line with the RSI range shift frame, indicating a lack of clear directional momentum.Going forward, the 53500-53400 area is expected to serve as crucial support for the index. A sustained break below the 53,400 level could trigger further downside, pulling the index towards the next major support at around 52,700. On the upside, the 50-day EMA area at 55,300-55,200 is likely to act as an immediate hurdle, capping any near-term recovery.(Disclaimer: Recommendations, opinions regarding stock market, other asset classes or personal finance management tips provided by experts are their own. These opinions do not represent the views of The Times Of India.)
