stock available for purchase under 100: Snapping its three-session winning streak, frontline index Nifty 50 closed nearly half a per cent lower on Friday, January 17, led by losses from select banking and IT giants, such as Infosys, ICICI Bank, Axis Bank, HDFC Bank and TCS left behind. , Sentiment is being weighed down by foreign capital outflows amid unimpressive third quarter earnings and caution ahead of the upcoming Budget. Foreign Institutional Investors (FIIs) have sold more value of Indian equities Rs 46,500 crore so far in January.
Sumeet Bagadia’s Stock Recommendations
Sumeet Bagadia, Executive Director, Choice Broking believes that the market sentiment is weak. For sentiment to improve, the benchmark index needs to break and sustain above 23,500 points. Amid the third quarter results season, Bagadia suggests focusing on stock selection and placing bets on stocks that look good on the technical charts.
“Overall, the Indian stock market has a negative bias despite Nifty 50 index closing above 23,200 levels. Dalal Street bias will improve only after a decisive break of the 50-stock index above 23,500 points. Hence, maintain It is better to take a stock-specific approach amid the Q3 results season and find stocks that look strong in the technical charts,” Bagadiya said.
Sumeet Bagadia on Monday recommended buying the following stocks: IRB Infrastructure Developers, Sagardeep Alloys, Medico Remedies and Lloyds Engineering Works.
Stocks worth buying on Monday
IRB Infrastructure Developers buy at 54.89 | Target Price: 59 | Fall off: 53.
Sagardeep Alloys buy at 33.91 | target price: 36.5 | Fall off: 32.5.
Medico Remedies buy at 65.52 | target price: 70 | Fall off: 63.
Lloyds Engineering Works buy at 83.72 | target price: 90 | Stop falling out: 80.
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Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, and not of Mint. We advise investors to consult certified experts before taking any investment decision.
