Stocks to Buy: India’s benchmark stock market indices, Sensex and Nifty 50 hit record highs on Monday. Strong performance in the financial services sector along with realty and auto stocks led the gains. Nifty 50 closed at 25,939.05, up 0.57% from 25,790.95 in the previous session. While, the BSE Sensex closed at 84,928.61, up 0.45%.
Vaishali Parekh, Vice President, Technical Research, Prabhudas Lilladher, said Nifty has shown strong uptrend signals in its last two sessions to move towards the 26,000 landmark. The index shows potential thereafter, with 26,400 levels indicating an initial target.
Parekh estimates that Nifty will find support at 25,800 points and face resistance at 26,100 points. The Bank Nifty index is likely to move between 53,800 and 54,600 today. In such a situation, Parekh has recommended buying in AU Small Finance Bank Limited, JSW Energy Limited and Bharat Petroleum Corporation Limited for today.
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AU Small Finance Bank Limited (AU Bank): Buy at Rs 735, target Rs 766 and stop loss at 720.2.
JSW Energy Limited: Buy this energy stock at Rs 792 per share. Keep a target of Rs 830 and do not forget to place a stop loss at 775.3.
Bharat Petroleum Corporation Limited (BPCL): Buy this stock at Rs 338, target Rs 354 and place a stop loss at Rs 331.
Investors’ capital increased by Rs 8 lakh crore in three days
The local stock market has been touching new heights for three consecutive days after the US central bank Federal Reserve cut the policy interest rate by 0.50 percent. During these three days, the wealth of investors has increased by Rs 8.30 lakh crore.
The 30-share BSE Sensex closed at an all-time high of 84,928.61 points, jumping 384.30 points on Monday, for the third consecutive trading day. During the day’s trading, it had risen 436.22 points to a new all-time high of 84,980.53 points. In three days, the Sensex has jumped 1,980.38 points or 2.38 percent. Due to this, the market capitalization of BSE listed companies has increased by Rs 8,30,975.85 crore to Rs 4,76,03,923.17 crore (5,700 billion dollars) in three days.
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own and not of . Investing in the stock market is subject to risks and consult your advisor before investing.)
