Buy or sell: Sumeet Bagadia recommends three stocks to buy on Tuesday — March 26

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Buy or sell stocks: The Indian stock market joined the global market rally after the US Federal Reserve and Bank of England kept the interest rate unchanged. The Nifty 50 index added 84 points and finished at 22,096 level, the BSE Sensex gained 190 points and closed at 72,831 mark whereas the Bank Nifty index shot up 178 points and finished at 46,863 level. In the board market, the small-cap index rose more than the Nifty 50 index even as the advance-decline ratio remained positive at 2.7:1.

In a truncated week in which, stock market holidays fall on Monday and Friday for Holi 2024 and Good Friday 2024 respectively, Sumeet Bagadia, Executive Director at Choice Broking believes that the Nifty 50 index maintaining above the psychological 22,000 is crucial. The Choice Broking expert said that the 50-stock index has support placed at the 21,850 mark whereas it is facing a hurdle at the 22,200 level. On stocks to buy next week, Sumeet Bagadia recommended three buy or sell stocks — ITC, IndusInd Bank, and Mahindra & Mahindra (M&M).

Here we list out full details regarding Sumeet Bagadia's stock recommendations for next week: 1] ITC: Buy at ₹428.60, target ₹455, stop loss ₹415. ITC share price, currently trading at ₹428.60 levels, exhibits robust support at ₹415 levels, reinforced by its proximity to the 20-day EMA. A minor resistance is noted near ₹438 levels, coinciding with recent highs.

Upon breaching this resistance, the stock may ascend toward the target price of ₹455 and beyond. Daily chart patterns reveal a consistent formation of higher highs and higher lows over the past three days with increasing volumes, signaling underlying strength. The momentum indicator RSI helps this bullish sentiment, currently at 58.68 and