Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — April 15
Buy or sell stocks: After showing a range-bound action on Wednesday, the Indian stock market slipped into a sharp weakness zone and ended lower on Friday. The Nifty 50 index nosedived 234 points and closed at a 22,519 level, the BSE Sensex crashed 793 points and finished at the 74,244 mark, and the Bank Nifty index corrected 422 points and ended at 48,564 level. In the broad market, the small-cap index dipped 0.60 percent whereas the mid-cap index went down 0.49 percent.
Sumeet Bagadia, Executive Director at Choice Broking believes that the Nifty 50 index is standing at a crucial support of 222,500 mark. The Choice Broking expert maintained that the Indian stock market sentiments may turn weak upon breaching below this major support. On the other hand, the 50-stock index is facing a hurdle at 22,750 to 22,800 zone.
On breaching above this resistance would mean another 500 points upside in the Nifty 50 index. On stocks to buy next week, Sumeet Bagadia of Choice Broking recommended three buy or sell stocks for Monday — Bajaj Auto, Nestle India, and Divi's Laboratories. Also Read: TCS share price: Q4 results 2024 beat market estimates.
Is this a share to buy? 1] Bajaj Auto: Buy at ₹9074, target ₹9900, stopo loss ₹8400. Bajaj Auto share price is presently trading at ₹9074.15, consolidating above the ₹9000 level and retesting breakout levels with good volume. This upward momentum is supported by a consistent pattern of higher highs and higher lows on the daily chart, along with robust trading volume.
These patterns underscore a resilient upward trajectory in the stock. The Relative Strength Index (RSI) stands at 60.74 and is trending upward, indicating a significant surge in buying momentum. Both RSI and Stochastic RSI in the
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