“Indian Stock Market Continues Rally, Experts Recommend Stocks to Buy Today”
The Indian stock market continued its upward momentum on Monday, following strong global market sentiments. The Nifty 50 index shot up 189 points to close at 22,336, while the BSE Sensex scaled 560 points to end at 73,648. The Bank Nifty index also gained 350 points and finished at 47,924. The small-cap and mid-cap indices outperformed the Nifty 50 index, gaining 1.26% and 0.93% respectively.
Looking ahead to Tuesday’s trading session, experts have shared their insights on the market outlook. Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas, expects the Nifty index to continue its pullback rally, with immediate resistance at 22,300-22,500 and key support at 22,000. Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, anticipates further bullish strength in the Bank Nifty index, with a crucial resistance level at 48,000.
Triggers that may impact the Indian stock market today include reactions to Reliance’s Q4 results and upcoming US economic data releases. Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted the importance of stock-specific actions as the earnings season progresses.
Experts have also recommended stocks to buy today. Sumeet Bagadia, Executive Director at Choice Broking, suggested buying LIC Housing Finance and SBI, while Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher, recommended Tata Motors, Larsen & Toubro, and DCAL. Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio, advised buying Havells India and Triveni Engineering.
Investors are reminded to consult with certified experts before making any investment decisions. Stay tuned for more updates on the Indian stock market as the trading day unfolds.
