The Indian stock market showed some positive movement after a few days of being stable. On Wednesday, the Nifty 50 index rose by 63 points, closing at 26,004. The BSE Sensex gained 255 points, reaching 85,169, and the Nifty Bank index increased by 133 points to finish at 54,101. There was a notable rise in cash market volumes, which were up by 11.4% compared to the previous session.
Sumeet Bagadia, Executive Director at Choice Broking, believes that the market is looking more positive now that the Nifty 50 has closed above the important 26,000 mark. He predicts that the index could reach between 26,350 and 26,400 soon. Bagadia also mentioned that the Bank Nifty index is still on an upward trend and could see a fresh rally if it goes above 54,200 decisively. He recommends a stock-specific approach for investors and suggests looking at breakout stocks for intraday trading.
For today, Bagadia recommends buying the following five stocks:
- Pritish Nandy Communications (PNC): Buy at ₹78, with a target of ₹83.30 and a stop loss at ₹75.80.
- Saregama India: Buy at ₹614.50, targeting ₹650, with a stop loss at ₹590.
- Optiemus Infracom: Buy at ₹841.35, aiming for ₹890, with a stop loss at ₹810.
- Medicamen Biotech: Buy at ₹516.75, with a target of ₹550 and a stop loss at ₹499.
- Shemaroo Entertainment: Buy at ₹207.70, targeting ₹220, with a stop loss at ₹200.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
