New Delhi. The stock market closed with a decline on Friday. After Donald Trump's victory in the US, there was some growth in the market but the happiness of the investors could not last long. The market has been surrounded by uncertainties for a long time. FPIs are continuously withdrawing money from the Indian market. On November 8, the Sensex closed down by about 80 points and the Nifty by more than 50 points.
In the falling market, many experienced retail investors are also thinking before investing money. Experts believe that this decline is not going to stop so soon. Well-known investor Ramesh Damani has said that investors should be prepared for a decline of 2-3 months. In such a market, Sumit Bagadia has named 3 stocks as his choice to buy on Monday. Sumit is the executive director of Choice Broking. In an article published in Mint, he talked about these 3 stocks. Let us know which are these stocks and why Bagadia has chosen them.
He has advised to buy this Infosys stock at 1829.95. Its target price is Rs 1960 and stop loss is Rs 1760. He says that this stock has shown signs of a strong comeback. Its relative strength index is currently at 46.84 which shows a tremendous rebound from the oversold zone. He says that long-term support is continuously visible in this stock.
Hindustan Unilever
is a buy recommendation at 2,507.70. The target price is Rs 2,685 and the stop loss is suggested at 2,425. Hindustan Unilever has seen selling from the recent highs. But the stock is showing signs of support and a bullish candle has formed near the key support level, which may indicate a reversal.
Larsen & Toubro:
Buy this stock at 3,660.30. Bagadia has set its target price at Rs 3,990. At the same time, the stop loss is Rs 3,505. Larsen & Toubro has been in an uptrend for a long time. Recently it has shown a reversal from the demand zone, which indicates an increase in buying. The RSI is at 59.49, which shows sideways-to-upward momentum.
--Advertisement--