5 stocks will give good profits in Indian stock market today. Sumit Bagadia gave target and stoploss.
Today, on Tuesday, growth may be seen in the Indian stock market (Sensex and Nifty 50). The market saw a slight rise in the special trading session on Saturday and Nifty 50 closed at 22,502.00.
Factors Influencing the Market:
- Global signal: Despite mixed signals from markets across the world, a positive trend on Wall Street and Asia-Pacific markets could push the Indian market higher.
- US Federal Reserve decisions: Market experts are waiting for clarification from the US Federal Reserve regarding the timing of change in interest rates, which may cause volatility in the market.
- Election results and quarterly reports: Uncertainty about election results and quarterly reports of companies can also create some movement in the market.
Which stocks to bet on?
Sumeet Bagadia, Executive Director, Choice Broking recommends buying these five stocks:
- Premier Explosives: Buy at ₹2,477.6, target ₹2,626, stop loss ₹2,394
- Bharat Electricity: Buy at ₹3,884.85, target ₹4,111, stop loss ₹3,744
- Kaynes Technology India: Buy at ₹3,234.35, Target ₹3,399, Stop Loss ₹3,144
- Balkrishna Industries: Buy at ₹2797.95, Target ₹2950, Stop Loss ₹2699
- Apple (India): Buy at ₹1,233.85, target ₹1,299, stop loss ₹1,188
Nifty 50 trend:
According to technical analysis, Nifty 50 has a bullish trend and may reach the level of 22,800 in the next 1-2 weeks. Its immediate support is expected at 22,200 levels.
overall:
Even though there is some uncertainty regarding some global cues and upcoming events, the Indian stock market is showing positive prospects for the near future. Investors are advised to keep an eye on these suggested stocks and the market trend.
Remember, investing in the stock market can be risky. Therefore, before investing, definitely talk to your financial advisor.
