Stocks to Buy: Today is Vishwakarma Jayanti and the stock market is open on this auspicious day. Today you can bet on 5 stocks of experts’ choice, on which they are bullish. Sumeet Bagadia, Executive Director, Choice Broking has recommended two stock picks for Tuesday, while the other three stocks have been recommended to buy by Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi. These include Fortis Healthcare Limited, Blue Star Limited, Intellect Design Arena Limited, Reliance Industries Limited, Coromandel International Limited.
How can the market move?
Nagaraj Shetti, Technical Research Analyst, HDFC Securities, told Live Mint that the market uptrend is intact. Nifty may eventually break above the range movement at 25450 and move towards the next resistance at 25800 in the near term. Immediate support is at 25150 levels. US Federal Reserve interest rate cut will be in the headlines this week, as the interest rate cut cycle is likely to begin. Siddharth Khemka, Head of Research (Wealth Management), Motilal Oswal said that the European Central Bank reduced its policy rate by 25 basis points to 3.50 percent last week.
Also read: Market closed at record high, Sensex closed at 82988 and Nifty at 25383
All eyes will be on US Fed’s interest rate decision
The US Fed will announce its interest rate decision on Wednesday, where rates are expected to be reduced by at least 25 bps. Some other major central banks of the UK, Japan and China are also scheduled to meet during the week, Khemka said. The start of the interest rate cut cycle could be beneficial for emerging markets and keep the overall trend positive for the domestic market.
Sumit Bagadia Stocks
Fortis Healthcare Limited: Bagadia has recommended buy on Fortis Healthcare Limited at Rs 596.85 in cash with target at Rs 630 and stop loss at Rs 575.
Blue Star Limited: As the second stock, Bagadia has suggested Blue Star Limited. He has advised to buy Blue Star at Rs 1934.9 in the cash market, with a stop loss of Rs 1868 and a target of Rs 2040.
Ganesh Dongre Stocks
Intellect: Dongre has recommended buying Intellect for a target price of Rs 1025 with a stop loss at Rs 995.
Reliance Industries: Dongre has a buy recommendation on Reliance Industries at Rs 2940. The target price of this stock is Rs 3040 while a stop loss of Rs 2870 has been suggested.
Coromandel: Dongre has recommended buying Coromandel at Rs 1706 with a stop loss at Rs 1680 for a target price of Rs 1750.
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own and not of anytv. Investing in the stock market is subject to risks and consult your advisor before investing.)
