Stock Market Update
The Indian stock market ended higher on Friday despite trading within a specific range. The Nifty 50 index gained 66 points, closing at 23,465, while the BSE Sensex rose 181 points to end at 76,992. The Bank Nifty index also finished 155 points higher at 50,002.
Expert Advice
Sumeet Bagadia, Executive Director at Choice Broking, noted that several stocks broke through significant resistance levels on Friday. He suggests that these breakout stocks are still attractive for day trading.
Stock Market Today
Sumeet Bagadia advises day traders, “The Nifty 50 index faces resistance between 23,450 and 23,500. Once it breaks this barrier, it could reach 23,800 to 23,900 soon. It’s smart to focus on breakout stocks in the current market, as they can provide good opportunities to profit. The overall trend of the Indian stock market remains positive, which reduces potential risks.”
Key Triggers
Investors are watching for the US Retail Sales data and a speech by a US Fed official, both expected today. Without any major news, the market is likely to continue its range-bound movement with a positive bias.
Sumeet Bagadia’s Stock Recommendations
- BEML
- Buy at ₹4694
- Target: ₹4950
- Stop Loss: ₹4500
- DCX Systems
- Buy at ₹361.60
- Target: ₹380
- Stop Loss: ₹350
- JK Paper
- Buy at ₹489.65
- Target: ₹515
- Stop Loss: ₹475
- Indian Hume Pipe Company
- Buy at ₹385
- Target: ₹410
- Stop Loss: ₹375
- Zota Health Care
- Buy at ₹615.20
- Target: ₹645
- Stop Loss: ₹590
By focusing on these breakout stocks, day traders can potentially profit from today’s market.
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.
