Stock market recommendations: TVS Motor Company, and Vijaya Diagnostic Centre are the top stock recommendations by Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities for the June 29-July 3, 2026 week. The analyst has also shared his views on Nifty and Bank Nifty:
Stock recommendations:
TVS Motor CompanyTVSMOTOR has turned technically strong after delivering a decisive breakout from a double-bottom pattern on the daily chart, signaling the possibility of a sustained upward move. The breakout was accompanied by a sharp rise in volumes, reflecting strong buying interest and adding credibility to the bullish setup. Momentum indicators are also firmly supportive, with the DI+ crossing above the DI− in the ADX indicator, highlighting increasing bullish dominance. Further strengthening the outlook, the RSI has broken out of a sideways range and settled above the 60 mark, indicating a resurgence in positive momentum. With price action, volume expansion, and momentum indicators all aligned, the stock appears well-positioned to extend its rally in the coming sessions. Hence, we recommend to accumulate the stock in the zone of 3545-3580 with a stoploss of 3435. On the upside, it is likely to test the level of 3830 in the short term.Vijaya Diagnostic CentreVIJAYA is on the verge of a potential consolidation breakout on the daily chart, indicating the possibility of a fresh up move. Despite the recent consolidation, the stock has consistently found support at its 20-day EMA, which has acted as a strong dynamic support and helped preserve the broader uptrend. Notably, this support aligns with the Bollinger Band midline, adding further strength to the setup. The ADX on the weekly chart is rising, signaling improving trend strength, while shrinking MACD histogram bars suggest a gradual build-up in bullish momentum. Overall, the technical setup points towards a likely breakout and further upside. Hence, we recommend to accumulate the stock in the zone of 1360-1375 with a stoploss of 1315. On the upside, it is likely to test the level of 1470 in the short term.
Nifty View
During the truncated trading week, the Nifty index experienced elevated volatility, testing both the upper and lower ends of its ongoing consolidation band. Despite these swings, it failed to deliver a decisive breakout or breakdown, resulting in the formation of a High Wave candle for the second straight week—highlighting continued indecision among market participants. Even in the absence of clear directional conviction, the index managed to close the week with marginal gains, raising the question of whether this phase is a precursor to a breakout or simply a pause before renewed volatility.From a technical standpoint, the index continues to hold above its 20-day and 50-day EMA, signalling that the short-term bias remains positive. However, momentum indicators reflect a lack of strength, with the daily RSI moving sideways and the MACD histogram showing signs of waning bullish momentum. The ADX, currently at 15.27 and trending lower, further indicates the absence of a strong directional trend, suggesting that the market lacks conviction at current levels.Looking at the chart structure, the index is likely to remain range-bound in the near term. On the upside, the 24250–24300 zone will act as an immediate resistance. A decisive and sustained breakout above 24300 could trigger the next leg of the rally towards 24500 and 24700 in the short term, provided key support levels remain intact.On the downside, the 23800–23750 zone emerges as a crucial support area, as it aligns with the 20-day EMA and the 38.2% Fibonacci retracement of the recent up move. A breakdown below this zone could weaken the short-term outlook and open the door for further correction. With the index approaching a key inflection point, price action around these levels will be critical in determining the next directional move.
Bank Nifty View
The Bank Nifty index has continued to outperform the broader market over the past few weeks, reflecting sustained strength in the banking space. In the previous week, the index broke out of a 7-day consolidation phase, indicating bullish intent. However, after touching a high of 58706, it witnessed profit booking, which led to the formation of a High Wave candle on the weekly chart—signalling indecision at elevated levels.Despite this pause, the index remains well-positioned above its short-term and long-term moving averages, all of which are trending higher, indicating a positive underlying bias. Additionally, momentum indicators and oscillators continue to support the bullish outlook, with the daily RSI and Stochastic oscillators firmly placed in the bullish zone.Going ahead, the 58700–58800 range is expected to act as an immediate resistance zone. A sustained breakout above 58800 could pave the way for a sharp up move towards 59500, followed by 60200 in the near term. On the downside, the 57500–57400 zone is likely to act as a strong support base, helping the index maintain its upward trajectory.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
