4 hrs ago
Sumeet Bagadia names three stocks under ₹100 with targets
Indian share markets finished slightly lower after falling more sharply earlier in the day.
The Sensex and Nifty recovered some losses as crude oil prices declined and investors bought IT stocks and HDFC Bank.
Nifty is in a cautious, sideways phase, according to Sumeet Bagadia.
He identified 23,250–23,300 as an important support area for Nifty.
Bank Nifty recovered and ended higher, but it remains below key moving averages.
Bagadia recommended three stocks priced below ₹100.
They are South Indian Bank, Inox Wind and Paisalo Digital.
Each recommendation includes a price target and a stop-loss level to help manage risk.
Sensex fell 120.83 points, or 0.16%, to close at 74,781.76, while Nifty declined 79.70 points, or 0.34%, to 23,398.10.
Nifty recovered from an intraday low of 23,231.40, with support seen at 23,250–23,300 and resistance at 23,500–23,600.
Bank Nifty gained 134.60 points, or 0.24%, to settle at 56,606.55 after recovering from an early decline.
Sumeet Bagadia recommended South Indian Bank, Inox Wind and Paisalo Digital as stocks to buy under ₹100.
The recommendations list targets of ₹50, ₹84 and ₹93, with stop-loss levels of ₹44, ₹72.30 and ₹79.80, respectively.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, recommended three stocks; market participants traded the Sensex, Nifty and Bank Nifty.
- What
- Bagadia recommended South Indian Bank, Inox Wind and Paisalo Digital, while providing target prices and stop-loss levels.
- Where
- The recommendations concern Indian stock markets, including the BSE Sensex and NSE Nifty.
- When
- The market movements described occurred on Friday; the article says the stock recommendations were for Tuesday, 15 September.
- Why
- Bagadia based his recommendations and market outlook on technical analysis, including support, resistance, momentum and possible short covering.
Key facts
- Sensex close
- 74,781.76, down 120.83 points or 0.16%
- Nifty close
- 23,398.10, down 79.70 points or 0.34%
- Bank Nifty close
- 56,606.55, up 134.60 points or 0.24%
- South Indian Bank
- Buy at ₹46.18; target ₹50; stop-loss ₹44
- Inox Wind
- Buy at ₹76.50; target ₹84; stop-loss ₹72.30
- Paisalo Digital
- Buy at ₹84.23; target ₹93; stop-loss ₹79.80
- Nifty outlook
- Sideways bias; support at 23,250–23,300 and resistance at 23,500–23,600
Quotes
Sumeet Bagadia
Executive Director at Choice Broking who provided the market outlook and stock recommendations
“On the downside, a decisive break below 23,250 may resume the broader selling pressure. The expected trading range for the next session is 23,250–23,600. Sector-wise, Nifty IT Services, Private Bank and Media were among the key gainers, while Realty, Metal and Chemical remained the major laggards. Auto and Oil & Gas also stayed under pressure.”
livemint.com
“A decisive move above 57,000 would improve the near-term structure, while the broader trend remains cautious below the key moving averages. The expected trading range for the next session is 55,700–57,000 with a Sideways bias.”
livemint.com
Sources
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