Expert Analysis: Sumeet Bagadia’s Top Three Stock Recommendations for May 6, Including Coin Name and Symbol
- The Indian stock market recently experienced a significant shift, with the Nifty 50 index and the BSE Sensex both dropping points from their lifetime highs. The Bank Nifty index and the small-cap and mid-cap indexes also saw declines.
- Sumeet Bagadia, an experienced Executive Director at Choice Broking, maintains that the stock market trend remains bullish, despite the recent dent. He recommends three stocks to buy or sell: Grasim Industries, SAIL, and VOLTAS.
- Each of these stocks shows promising signs of sustained uptrends and robust bullish momentum, making them potential investment opportunities.
Understanding the recent performance of the Indian stock market is crucial for making informed investment decisions. This article provides an in-depth analysis of the current market trends and recommended stocks to buy or sell.
Recent Performance of the Indian Stock Market
The Indian stock market recently experienced a significant shift. After a period of range-bound action with a positive bias, the market saw a decline. On Friday, the Nifty 50 index ended 172 points lower after reaching a new peak of 22,794, and the BSE Sensex dropped 732 points from its lifetime high of 75,124. The Bank Nifty index also saw a significant decline of 307 points, closing at 48,923. In the broader market, the small-cap index finished 0.55 per cent lower after reaching a new peak of 47,678, and the mid-cap index ended 0.21 per cent lower after touching a new high of 42,774.
Stock Market Strategy for Monday
Sumeet Bagadia, a seasoned Executive Director at Choice Broking, believes that the bull trend of the Indian stock market got a dent on Friday as the Nifty 50 index once again plunged after making a double top at around its current resistance placed at 22,800. However, the Choice Broking expert maintained that the stock market trend is expected to remain bullish till the 50-stock index is above its current support of 22,150 to 222,200 range. On stocks to buy on Monday, Sumeet Bagadia recommended three buy or sell stocks — Grasim Industries, SAIL, and VOLTAS.
Recommended Stocks to Buy on Monday
1] Grasim Industries: Buy at ₹2481.35... Read the full article for FREE at COINOTAG!
