Top 5 Stocks to Buy Now! Expert Sumeet Bagadia Shares His Top Picks

The Indian stock market closed on a high note on Monday, influenced by positive global trends and speculation of a US Federal Reserve rate cut. The Nifty 50 index reached the important 25,000 mark, closing at 25,010. Meanwhile, the BSE Sensex jumped 611 points to close at 81,698, and the Bank Nifty index rose 214 points to end at 51,148. However, trading volumes on the NSE fell by 5.6% from the previous day. Despite this, the market showed strength, with more stocks advancing than declining, resulting in a positive advance-decline ratio of 1.07:1.

Stock Tips from Sumeet Bagadia

Sumeet Bagadia, Executive Director at Choice Broking, says the Indian stock market trend is positive, especially since the Nifty 50 has surpassed the 25,000 mark. He believes that the index’s key support is at 24,800 to 24,750, while it faces resistance at 24,550 to 24,600. With the market in a bull phase, many stocks are currently overbought. Bagadia suggests focusing on specific stocks showing strong breakout potential for intraday trading.

Top 5 Stocks to Buy Today

Based on his analysis, Sumeet Bagadia recommends buying the following five stocks:

1. NDR Auto: Buy at ₹1639, target price ₹1740, stop loss at ₹1572.
2. Precision Wires: Buy at ₹193.40, target price ₹204, stop loss at ₹186.
3. Kamdhenu: Buy at ₹551.75, target price ₹585, stop loss at ₹533.
4. Quickheal: Buy at ₹700, target price ₹737, stop loss at ₹677.
5. AGS Transact Technologies: Buy at ₹106, target price ₹111, stop loss at ₹102.

Market Outlook Today

Looking ahead, Bagadia says the Nifty 50 has strong support at 24,800 to 24,750 and faces resistance between 25,550 to 25,600. With the index closing above 25,000, the mood on Dalal Street has improved, and he expects the buzz around the US Federal Reserve rate cut to push the index towards its upper limit. If Nifty breaks above 25,600 decisively, it could reach the 25,850 to 25,900 range.