Portfolio Strategist Sumeet Bagadia Identifies Five Stocks for Consideration Amid Market Trends

Indian Stock Market Sees Robust Buying Interest

On March 24, the Indian stock market witnessed a surge in buying interest, with benchmark indices Sensex and Nifty 50 advancing around 2% each. The Sensex surged 1,372 points, or 1.89%, to close at 74,068, while the Nifty 50 climbed 440 points, or 1.78%, to settle at 22,912.

Broader Markets Participate in Rally

The buying interest was not limited to the benchmark indices, with broader markets also participating in the rally. The BSE 150 Midcap index gained 2.5%, and the BSE 250 Smallcap index gained 2.2%.

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Nifty 50 Outlook

According to Sumeet Bagadia, Executive Director at Choice Broking, the Nifty 50 is expected to face resistance at 23,050-23,100 and support at 22,750-22,800. The momentum indicator RSI is currently recovering from oversold territory and stands at 34.08.

Bank Nifty Outlook

On the Bank Nifty front, Sumeet Bagadia expects the index to face resistance at 54,300-54,400 and support at 53,700-53,800. The momentum indicator RSI is currently recovering from oversold territory and stands at 31.37.

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Stock Recommendations

Sumeet Bagadia recommends the following stocks to buy:

• Schneider Electric Infrastructure: Buy at ₹895, Target ₹955, Stop Loss ₹861
• CCL Products (India): Buy at ₹1080, Target ₹1178, Stop Loss ₹1029
• Sterlite Technologies: Buy at ₹180, Target ₹195, Stop Loss ₹170
• Granules India: Buy at ₹606, Target ₹650, Stop Loss ₹... (figure not provided)
• Alivus Life Sciences: Buy at ₹... (figure not provided), Target ₹... (figure not provided), Stop Loss ₹... (figure not provided)