Buy or sell: Sumeet Bagadia recommends three stocks to buy next week
Buy or sell stocks: On account of strong global market sentiments after better-than-expected Chinese economic data, Indian stock market ended in green terriroty for third straight session. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals. BSE Sensex too had a record closing at 67,838 levels after climbing to a new peak of 67,927 mark.
Nifty Bank index gained 230 points and closed at 46,231 levels. Sumeet Bagadia, Executive Director at Choice Broking believes that outlook for Indian stock market has further improved as mid-cap and small-cap indices stocks have once again started to participate in current rally. Choice Broking expert said that Nifty today looks poised for near term target of 20,350.
On stocks to buy next week, Sumeet Bagadia recommended three stocks to buy on Monday — Bharti Airtel, Mahindra & Mahindra (M&M) and Rainbow. Here we list out full details in regard to Sumeet Bagadia's stock recommendations for next week: 1] Bharti Airtel: Buy at ₹936, target ₹980, stop loss ₹900. Bharti Airtel share is currently trading at ₹936.15 levels suggests a healthy upward momentum.
A notable aspect is the consistent formation of higher highs and higher lows on the daily charts, a classical indication of an uptrend. This pattern suggests that buyers are progressively willing to pay more for the stock, reflecting growing confidence in its potential. Furthermore, the fact that a previous resistance level near ₹900 has now transformed into a strong support level is a positive development.
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