2 weeks ago

Sumeet Bagadia recommends three Independence Day stock picks; Nifty dips

Sumeet Bagadia recommends three Independence Day stock picks; Nifty dips
Buy or sell: Sumeet Bagadia recommends these three Independence Day stock picks. Should you buy? · livemint.com

Stocks are small pieces of a company that people can buy and sell.

On Friday, the stock market in India had a tiny down day after two weeks of going up.

Two big market measures, called the Sensex and the Nifty 50, fell just a little bit.

People were a bit worried because of things happening around the world, like talks between the US and Iran, oil prices moving up and down, and the chance that prices of everyday things might rise again.

An expert named Sumeet Bagadia looks at charts to figure out which stocks might go up.

He suggested three companies to buy: Larsen & Toubro, CG Power, and DLF.

Larsen & Toubro and CG Power make big machines and equipment, and DLF builds homes and offices.

He told people the price at which to buy each stock and a 'stop-loss', which is the price where they should sell to avoid losing too much money.

He thinks these stocks could rise to higher prices in the coming days.

Key facts

Sensex close
78,009.25 (down 71 points, -0.09%)
Nifty 50 close
24,366 (down 29.85 points, -0.12%)
Bank Nifty close
57,491.10 (down 144.10 points, -0.25%)
India VIX
11.30
Larsen & Toubro call
Buy at ₹4,057; target ₹4,350; stop-loss ₹3,883
CG Power call
Buy at ₹890; target ₹955; stop-loss ₹850
DLF call
Buy at ₹665; target ₹720; stop-loss ₹630
Nifty expected range
24,200–24,550 for the next session

Quotes

Sumeet Bagadia

Executive Director at Choice Broking, market analyst

“Immediate support is placed at 24,200–24,250, while 24,500–24,550 remains the key resistance zone. A sustained move above resistance could strengthen buying momentum and open the door to further upside, whereas a break below support could intensify corrective pressure. The expected trading range for the next session is 24,200–24,550”
livemint.com

Sources

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