The Indian stock market faced a broad sell-off on Monday, with Sensex and Nifty 50 indices dropping over 1%. Nifty 50 fell 1.27% to close at 23,995.35, while the BSE Sensex slipped 1.18% to 78,782.24. The Realty and Oil & Gas sectors were hit hardest, down 2.9% and 2.5% respectively. However, Nifty IT managed to hold steady. India’s VIX surged 5%, reaching 16.7, indicating increased market volatility.
Sumeet Bagadia’s Market Outlook and Top Stock Picks
Sumeet Bagadia, Executive Director at Choice Broking, noted that Nifty 50’s dip below the key 24,000 level shows a negative market trend. He advises a stock-specific approach for day traders, focusing on breakout stocks with strong potential on the technical charts.
Bagadia recommends the following five stocks for buying today:
- Transport Corporation of India (TCI)
- Buy Price: ₹1161.20
- Target: ₹1230
- Stop Loss: ₹1123
- Kapston Services
- Buy Price: ₹287.80
- Target: ₹305
- Stop Loss: ₹278
- Siyaram Silk Mills
- Buy Price: ₹611
- Target: ₹650
- Stop Loss: ₹590
- Oriental Aromatics Ltd (OAL)
- Buy Price: ₹628.50
- Target: ₹675
- Stop Loss: ₹608
- Vishnu Chemicals
- Buy Price: ₹543.80
- Target: ₹580
- Stop Loss: ₹525
Bagadia believes these stocks show potential for gains, making them suitable for intraday trading today.
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.
