3 days ago
Bagadia Recommends Five Stocks Under ₹100 Amid Market Weakness
Indian shares had a difficult week, and major market indexes went down.
The article says investors were concerned about overseas money leaving India, higher US bond yields, conflict in the Middle East, and expensive oil.
Sumeet Bagadia said the Nifty is near an important support level around 22,100 to 22,200.
He said a stronger recovery would need the Nifty to close above 22,600 for two sessions.
He also said Bank Nifty could fall further if it breaks below 53,843, but could rebound if that level holds.
Bagadia recommended five shares priced below ₹100.
For each share, he also gave a target price and a stop-loss price.
These are his market views and recommendations, not guaranteed outcomes.
Indian benchmark indices fell amid foreign fund outflows, rising US bond yields, Middle East conflict, and elevated crude prices.
The Nifty 50 closed at 22,421 after eight consecutive weekly declines; the Sensex fell nearly 2,000 points.
Sumeet Bagadia said the Nifty’s near-term support is 22,100–22,200, with resistance at 22,600 and 22,800.
Bagadia said Bank Nifty support at 53,843 is critical; a break could expose 53,000–52,800, while a rebound could reach 55,000–55,200.
His five buy recommendations under ₹100 are Sagility, Ujjivan SFB, NTPC Green Energy, Bajaj HFL, and Jayaswal Neco Industries, each with a target and stop-loss.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, gave the market outlook and stock recommendations.
- What
- Bagadia discussed market levels and recommended five shares under ₹100 with target and stop-loss prices.
- Where
- The Indian stock market.
- When
- The article describes the market's performance during a truncated week and gives recommendations for the day; no specific date is stated.
- Why
- The article attributes market weakness to foreign fund outflows, rising US bond yields, Middle East conflict, elevated crude oil prices, and rupee weakness against the dollar.
Bearish risks
Potential recovery
Nifty 50 outlook
Bearish risks
Bagadia said sustained selling has weakened the short-term structure, with support near 22,100–22,200.
Potential recovery
He said two consecutive closes above 22,600 could signal a stronger pullback.
Bank Nifty outlook
Bearish risks
A decisive close below 53,843 could lead to a decline toward 53,000–52,800.
Potential recovery
If 53,843 holds, the index could rebound toward 55,000–55,200.
Key facts
- Nifty 50 close
- 22,421
- Sensex weekly move
- Fell nearly 2,000 points
- Bank Nifty close
- 54,450
- Nifty support and resistance
- Support: 22,100–22,200; resistance: 22,600 and 22,800
- Bank Nifty key support
- 53,843
- Sagility recommendation
- Buy at ₹43.17; target ₹46.50; stop loss ₹41.50
- Other recommendations
- Ujjivan SFB: buy ₹65.60, target ₹71, stop loss ₹62.50; NTPC Green Energy: buy ₹91, target ₹99, stop loss ₹87; Bajaj HFL: buy ₹82.91, target ₹89, stop loss ₹79; Jayaswal Neco Industries: buy ₹91.28, target ₹100, stop loss ₹86.70
Quotes
Sumeet Bagadia
Executive Director at Choice Broking and stock market analyst
“The setup currently reflects a clear sell-on-rise structure. The critical support zone at 53,843 holds significant importance for the ongoing trend. A decisive close below 53,843 may open the door for a further decline towards 53,000–52,800. On the other hand, if this support holds firm, the index could attempt a rebound towards 55,000–55,200 in the coming sessions.”
livemint.com
“The short-term structure continues to show weakness, with sustained selling pressure over the last eight weeks keeping the broader market under pressure. The index is currently holding around the 22,400 zone, but a sustained move above 22,600 would be important for a stronger recovery.”
livemint.com
Sources
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