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The Indian stock market showed signs of volatility on Monday, with the Nifty 50 index closing marginally higher at 23,537 and the BSE Sensex finishing 131 points higher at 77,341. The Bank Nifty index also saw a slight increase, closing at 51,703. Despite the volatile market conditions, cash market volumes on the NSE fell sharply to ₹1.20 lakh crore.
Looking ahead to Tuesday’s trade setup, experts have provided insights into potential stock picks for investors. Short-term trend analysis suggests that the Nifty remains positive, with a possible range movement towards the upper levels of 23,650 to 23,700. Immediate support for the Nifty is expected at 23,350.
In the IPO market, bidding for the Stanley Lifestyles IPO is ending, while new mainboard public issues, such as Allied Blenders and Distillers IPO, are set to hit the market. Experts have recommended buying five stocks on Tuesday: Gujarat Gas, Punjab National Bank, Hindustan Copper, Titagarh Rail, and Sundram Fasteners.
Regarding Gujarat Gas, recent price movements and technical analysis indicate strong support around ₹595, with potential for an upward rally towards ₹635. Traders are advised to consider buying and holding the stock with a stop-loss at ₹595. Punjab National Bank (PNB) is showing a bullish reversal pattern, indicating momentum towards ₹132 with support at ₹121. Hindustan Copper is poised for an upward move towards ₹345, displaying robust support near ₹324.
The esteemed market experts offer strategic buy recommendations for various stocks, outlining target prices and stop-loss levels to guide investors towards potential profitable opportunities. As the stock market continues to present new opportunities and challenges, it is advisable for investors to seek advice from certified experts before making investment decisions.
