For the seventh consecutive day Indian stock market is still on the downtrend. Nifty 50 index yesterday closed at 22,245. On the other hand BSE was up by 10 points and closed at 74,612. However NBFC and some banks received a boost as RBI rolled bank the increase in risk weights on bank loans and NBFC companies.
Stocks to buy today by Sumeet Bagadia
As per Sumeet Bagadia, Executive Director at Choice Broking, Indian stock market bias in on the weak side. If Nifty 50 breaks the current support at 22,500 it might go down to 22,300. On the other hand if it reaches 22,800 market will continue to improve.
Are you willing to know about which stocks might perform well in these situations? Here’s 5 stocks Sumeet Bagadia recommends, with their entry price, target price and stop loss.
Breakout Stocks by Sumeet Bagadia
1. Shriram Finance: The first recommendation of the day by Sumeet Bagadia is Shriram Finance. You can buy this share at Rs 606.80 and target for selling for Rs 650. Do remember to keep a stop loss at Rs 585.
2. Cholamandalam Finance Corporation: Another good stock is Cholamandalam Finance. This company’s share can be bought at Rs 1636.20 and the target price should be Rs 1760. Also, there should be a stop loss at Rs 1580.
3. India Shelter Finance Corporation: Investors are advised to buy these shares at Rs 721.05 and target to sell at Rs 765. There should be a stop loss set at Rs 695.
4. Redington: 4th recommendation of the day is Redington. These shares can be bought at Rs 251 and target price is set at Rs 266. Also, remember to keep a stop loss at Rs 242.
5. Narayana Hrudayalaya: The last recommendation of the day is This stock. Investors can buy the shares at Rs 1491 and aim for a target price of Rs 1580 to sell. It is also important to keep a stop loss at Rs 1440.
All the information given above are for information purposes and individual analyst view. Investors are advised to consult their certified analyst or expert before making any investment-related decision.
