Buy or sell: Sumeet Bagadia recommends three stocks to buy next week
Buy or sell stocks: Despite cautious sentiments in the global market, the Indian stock market ended higher for the second straight session on Friday. Nifty 50 index added 52 points and closed at the 21,710 level, and BSE Sensex regained the 72,000 mark by adding 178 points in the last session of the week gone by. However, the Bank Nifty index went off 36 points and finished at 48,159 level.
The small-cap index rose more than the Nifty even as the advance-decline ratio remained high at 1.18:1. Sumeet Bagadia, Executive Director at Choice Broking believes that positive sentiments in the Indian stock market are still intact. The Choice Broking expert maintained that the Nifty 50 index has closed near to resistance zone of 21,750 to 21,800 level, which is a good sign.
However, he maintained that the market is currently in the 21,500 to 21,800 range and a bullish or bearish trend can be assumed only on breakage of either side of the range. Also Read: Gold rate today ₹1500 away from lifetime high. Will it climb to a new peak? On stocks to buy next week, Sumeet Bagadia listed three shares for stock market investors — GAIL, TCS, and HUL.
Here we list out full details regarding Sumeet Bagadia's stock picks for Monday: 1] GAIL: Buy at ₹164, target ₹185, stop loss ₹152. GAIL share price is currently trading at an all-time high of ₹164, showing strength in price performance. The stock is holding the ₹158 level and consolidating at the resistance level, indicating price stability with good volume.
The observed pattern suggests a short-term target price of ₹185. Buying on dips, especially in the ₹160 range, seems to be a favorable entry point, with ₹152 acting as a crucial support level for the stock. Additionally, GAIL demonstrates a
. Read more on livemint.com
