Stocks to Buy 11 October: Regarding buying today, Vaishali Parekh, Vice President (Technical Research) of Technical Research at Prabhudas Lilladher has suggested three intraday stocks – Granules India, Balkrishna Industries and BEL. Apart from this, he has suggested to focus on defense stocks like GRSE, Mazagon Dock, BDL, Cochin Shipyard and HAL. Whereas, regarding breakout stocks to buy today, Sumeet Bagadia, Executive Director, Choice Broking has recommended buying five stocks, which include Sharda Motor Industries, OnMobile, Sri Rayalaseema High-Strength Hypo, Pavana Industries and Crest Ventures.
Vaishali Parekh’s shares
Granules India: Buy this stock at Rs 578 for target price of Rs 602 with stop loss of Rs 566.
Balkrishna Industries: Buy Balkrishna Industries with a target price of Rs 3,170 with a stop loss of Rs 3,000.
Bharat Electronics Limited (BEL): Buy BEL at Rs 286.90 for target of Rs 302 with stop loss of Rs 280.
Also read: Will the rise in the stock market continue or will the wind of decline blow, see the signs
Sumeet Bagadia’s breakout shares
Sharda Motor Industries: Buy at Rs 2103.15, target price at Rs 2244 and stop loss at Rs 2025.
OnMobile: Buy at Rs 91.60, target Rs 96.50 and stop loss at Rs 88.
Sri Rayalaseema High-Strength Hypo: Buy this stock at Rs 898.50, target Rs 950 and stop loss at Rs 866.
Pavana Industries: Buy it at Rs 602, target Rs 640 and stop loss at Rs 580.
Crest Ventures: Buy at Rs 525.80, target Rs 560 and stop loss at Rs 507.
How can the market move?
According to Live Mint, Director Sumeet Bagadia believes that the overall sentiment of the Indian stock market is cautious, as the Nifty 50 index is trading between 24,900 and 25,300. Choice Broking experts said that if either side of this range is broken, bullish or bearish sentiment can be predicted. However, Bank Nifty looks positive after reaching above 51,200 points on closing basis. He advised a stock-specific approach focusing on breakout stocks for intraday trading.
On Indian stock market outlook today, Sumeet Bagadia said, “Banking stocks are expected to attract new buyers as the Nifty Bank index closed above 51,200. However, the overall sentiment on Dalal Street is expected to remain cautious, Because Nifty 50 index is trading range-bound in the range of 24,900 to 25,300.