Friday, February 23, 2024
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Buy or sell: Anuj Gupta of IIFL Securities recommends 5 stocks to buy next week

Stocks to Buy or Sell on Monday: The Indian stock market closed lower for the second session in a row as a result of weak global market sentiment. The Nifty Bank index fell by more than 0.55% to 39,395 while the Nifty 50 index went down by more than 0.75% to 16,945 and lost the psychological 17,000 points. The 30-share BSE Sensex ended the day at 57,527, a 0.69 percent decrease. In Friday’s deals, the small-cap index fell 1.37 percent in the overall market, while the mid-cap index fell 1.25 percent.

Stock market strategy for the coming week According to Anuj Gupta, Vice President-Research at IIFL Securities, the Nifty has found solid support at the 16,800 level, and the 50-stock index faces a significant obstacle at 17,200 on the upside. He stated that the Indian stock market may experience further declines once it crosses the support level of 16,800. According to an expert at IIFL Securities, if geopolitical tensions continue to rise, the US Defense Department’s claim that the United States carried out airstrikes in Syria could have an effect on global equity markets. During the morning trading session on Monday in Asian markets, Anuj Gupta advised investors to keep an eye on the volatility of crude oil prices. He added that the Indian stock markets could suffer greatly from any rise in crude oil prices next week.

buy or sell stock: Anuj Gupta of IIFL Securities recommends five stocks for the following week—Infosys, SBI Card, Kotak Mahindra Bank, Tata Steel, and Tata Motors—as stocks to buy.

The entire information regarding the upcoming week’s stock recommendations from IIFL Securities can be found here:

1]Infosys: The Infosys share price may rise after rebounding from the oversold zone at the 1,410 level. This IT stock can be purchased at CMP with a stop loss at 1,342.

2]SBI Card: On the chart pattern 710, shares of this SBI subsidiary broke out, and they have remained above this breakout level ever since. Therefore, this stock can be purchased for a short-term goal at CMP; each level’s stop loss is set at 760 698.

3] Bank Kotak Mahindra: Despite Dalal Street’s negative sentiment, this banking stock’s shares have been seeing an increase in trading volume in recent sessions. can purchase this banking stock at CMP for the near-term target price of 1,715 per share. However, the 1,654 per share stop loss level should be maintained.

Four] Tata Steel: This Tata Group company’s share price is close to its support area, and accumulation is generally anticipated at this level. One can buy shares of Ace, Tata Steel stock for short-term targets on Monday with a stop loss set at 114 94 levels for each level.

5]Tata Vehicles: A rally in the stock is anticipated as traders may accumulate at discounted levels, and the share price of this flagship Tata group company is approaching its support levels. As a result, Tata Motors shares can be purchased for immediate objectives. 450 shares per level. However, when taking a position in this auto stock, a stop loss should be maintained.

Disclaimer: The opinions and suggestions presented above are those of individual analysts or brokerage firms, not 02 help. Before making any investment decisions, we recommend that investors conduct due diligence with licensed professionals.

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