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Buy or sell: Trade guide for Nifty 50 to Sensex — Sumeet Bagadia recommends three stocks to buy on Monday

Buy or sell stocks: On account of FII outflows, weak Q3 earnings trends—especially in IT and consumption sectors, continued weakness in the Indian Rupee, and renewed fear of Trump's Greenland tariffs on NATO countries, the Indian stock market finished lower after logging strong gains during the first half of trade during the Friday session. The Nifty 50 index finished 241 points lower at 25,048, the BSE Sensex today crashed 769 points and closed at 81,537, whereas the Bank Nifty index nosedived 727 points and ended at 58,473. Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment is weak, as the Nifty 50 index has broken below the 200-DEMA support at 25,100 and is unable to sustain at higher levels.

Buy or sell: Trade guide for Nifty 50 to Sensex — Sumeet Bagadia recommends three stocks to buy on Monday

Credit: Livemint

Key Highlights

  • The Choice Broking expert said the Nifty 50 price action suggests selling pressure at higher levels and a lack of follow-through buying.
  • Speaking on the outlook of the Indian stock market, Sumeet Bagadia of Choice Broking said, “The Indian stock market bias is weak as the Nifty 50 index has given a decisive breakdown at 200-DEMA placed at 25,100.
  • Now, the 50-stock index has crucial support placed at 24,900.
  • Breaking below this support means more selling pressure, and in that case, the key index may find the next support at the 24,500 to 24,400 band, the next looking demand zone on the technical chart pattern.
  • On the upper side, the index needs to close above 25,500 to strengthen the conviction of bulls.” Regarding stocks to buy for the short term, Sumeet Bagadia recommended buying these three shares: HUL, Tech Mahindra, and ONGC.
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Sources

  1. Buy or sell: Trade guide for Nifty 50 to Sensex — Sumeet Bagadia recommends three stocks to buy on Monday

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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