Top stocks to buy (AI image)

Stock market recommendations:According to Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities, the top stock picks for this week are Ashoka Buildcon, and Sobha. Here’s his view on Nifty, Bank Nifty for the week starting November 3, 2025:Nifty View:Nifty spent the week consolidating after an exceptional October rally of over 1,500 points from 24,588. The index came close to its record high but lost momentum as global uncertainties and profit booking at higher levels capped the upside.The week began on a positive note, aided by domestic optimism and buzz around a potential India–US trade deal, but the latter half saw weakness as Nifty failed to hold above 26,100 and ended below 25,800 — down 0.28% for the week. The weekly candle resembled a Shooting Star, reflecting exhaustion after a sharp run-up.Technically, the index has been oscillating in a narrow 26,104–25,711 range for 11 sessions, showing trader indecision. The 20-day EMA is catching up, signalling a slowdown in momentum. RSI eased from 72.43 to 57.84, indicating cooling bullish strength, while a still-elevated ADX highlights that the broader trend remains positive.Globally, sentiment turned cautious after Fed Chair Jerome Powell, following a 25-bps rate cut, suggested that another cut in December was “not a given,” leading to mild profit booking. Earlier remarks by U.S. President Donald Trump on progress toward an India–US trade deal briefly lifted sentiment.Overall, Nifty is consolidating within an ongoing uptrend. Support lies near 25,520–25,500 (38.2% Fibonacci retracement of the 24,588–26,104 move). A breakdown below this zone could lead to 25,300, while resistance remains firm around 26,100–26,150. A close above this level could revive bullish momentum toward new highs.Bank Nifty ViewBank Nifty consolidated after touching a fresh record high of 58,578, reflecting strength with signs of fatigue at higher levels. While the broader structure remains positive, profit booking near 58,450–58,600 capped gains.The index extended early-week gains and broke above 58,200–58,300 mid-week, confirming bullish undertones. However, renewed selling on Thursday formed a bearish candle with a long upper shadow, suggesting resistance at the highs.The weekly chart shows a candle pattern similar to a Tweezer Top — an early warning that upside momentum is waning. RSI has cooled from 76.64 to 62.29, showing moderation after an overbought phase, while MACD remains firmly positive and ADX continues to rise, confirming the strength of the broader uptrend.Going forward, 57,600–57,500 remains key support (23.6% Fibonacci retracement of 54,227–58,578). Resistance is seen at 58,400–58,500; a decisive close above 58,500 could open the path to 59,000–59,500.

Stock recommendations:

Ashoka BuildconAshoka Buildcon has given a strong breakout from its 200–180 range with rising volumes, signaling robust buying interest. The stock has closed above the upper Bollinger Band for two sessions, confirming bullish momentum. RSI (69.5) is rising with room for upside, while MACD remains firmly positive. Accumulate in the 206–201 zone with a stoploss at 195. Target: 220.SobhaSobha has broken out above its 1596–1492 range, ending its consolidation phase. RSI and DI lines indicate strengthening momentum and trend participation, while the stock trades well above key moving averages. Accumulate in the 1619–1610 zone with a stoploss at 1565. Target: 1730.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)