Indian Stock Market Overview
Strong gains across important indices helped the Indian stock market conclude the week on high notes. Closing at 24,823, the Nifty 50 index showed weekly increase of 283 points or 1.15%. Rising by 0.80% or 650 points, the BSE Sensex culminates at 81,086 Looking through around 0.83%, the Bank Nifty came out at 50,933. The Mid-cap index rose 1.95%, and the Small-cap index increased 3.40%. more broad movements of the market.
Sumeet Bagadia’s Stock Recommendations
Based on remarks made by US Fed Chair Jerome Powell on a probable September rate drop, Executive Director of Choice Broking Sumeet Bagadia points to a bright future for the Indian stock market. Should the Nifty 50 index surpass the 24,800 to 24,850 range, he believes it may perhaps hit the 25,000 mark. For those wanting to make deliberate trades, Bagadia has recommended the following stocks for Monday:
Tata Motors
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- Buy at: ₹1085.15
- Target: ₹1175
- Stop Loss: ₹1040
- Analysis: Tata Motors is showing strong bullish momentum, trading above key moving averages. The stock has bounced back from a crucial support level of ₹1070, indicating potential for further upward movement. Investors should keep an eye on the support level of ₹1040, as a breach could signal a shift in trend.
Coal India
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- Buy at: ₹538.85
- Target: ₹575
- Stop Loss: ₹520
- Analysis: Coal India has demonstrated a strong bullish trend, trading above all significant moving averages. The stock is expected to move upward if it sustains above ₹540, with a potential target of ₹575. The robust support level at ₹520 provides a safety net for investors.
Bharti Airtel
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- Buy at: ₹1506.75
- Target: ₹1575
- Stop Loss: ₹1445
- Analysis: Bharti Airtel’s share price is showing strength after bouncing back from support levels of ₹1445. The stock is trading above its moving averages, with potential for further gains if it surpasses resistance levels around ₹1525 to ₹1540. The RSI at 59.28 supports a bullish outlook.
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