Sumeet Bagadia Identifies 5 Promising Stocks to Buy Today
Sumeet Bagadia recommends five shares worth buying today -- Pearl Global Industries, Sharda Cropchem, Bhagiradha Chemicals and Industries, PPAP Automotive, and Deepak Frtlsrs and Ptrchmcls Corp.
Sumeet Bagadia Identifies 5 Promising Stocks to Buy Today
Shares to buy today: Weak signals in the Indian stock market drove the benchmark indexes Sensex along with Nifty 50 to decline for a second session on May 29.
The Sensex fell by 645 points to close at 80,951.99 while the Nifty 50 index dropped 204 points to end at 24,609.70 in red closing for Indian stock markets. The BSE Midcap index suffered a 0.33% reduction while the BSE Smallcap index managed a slight gain of 0.17%.
According to Sumeet Bagadia, Executive Director at Choice Broking, positive sentiment persists in the Indian stock market because the Nifty 50 index maintains a level above the critical support of 24,500.
Sumeet Bagadia breakout stocks recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the undertone of this Indian markets is positive, but it is the Nifty 50index is in danger of hitting the 25,000 the 25,000 mark.
On the outlook for the Indian market Bagadia stated, “When we surpass this level, we could anticipate the benchmark index to hit 25,400 in the near future. On the other hand the index has reached solid support around 24,500 levels. This means that one must maintain an approach that is specific to stocks and focus on the stocks that appear solid from a technical perspective. Exploring Sumeet Bagadia breakout stocks buy sell can be a valuable alternative.
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks for investment which include Pearl Global Industries, Sharda Cropchem, Bhagiradha Chemicals, PPAP Automotive, and Deepak Fertilisers & Petrochemicals
1. Pearl Global Industries Purchase at Rs1422, with a target of at Rs1515, stop loss of Rs1370.
2. Sharda Cropchem Buy at Rs730, goal Rs775 Stop loss Rs703
3. Bhagiradha Chemicals and Industries Buy at Rs327.8 Target at Rs350, stop loss at Rs315;
4. PPAP Automotive Purchase at Rs224.27 with a target of Rs239 and a stop loss of Rs216;
5. Deepak Frtlsrs and Ptrchmcls Corp: Buy at Rs1444.7 with a target of Rs1550. stop loss of Rs1400.
