Indian stock market: The Indian stock market paused its two-day winning streak on Friday, November 21, with benchmark indices slipping 0.5%. The decline was led by weakness in major financial stocks, including HDFC Bank, ICICI Bank, SBI, and Bajaj Finance, amid soft global market sentiment.
After touching a fresh 52-week high of 26,246.65 in the previous session on November 20, the Nifty 50 retreated in today’s trade.
The Sensex fell 400.76 points, or 0.47%, to settle at 85,231.92, while the Nifty 50 closed 124 points, or 0.47%, lower at 26,068.15.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market sentiment is positive despite finishing lower on Friday as the Nifty 50 index is sustaining above 26,000.
“The key benchmark index has made crucial support at 25,800. The Nifty 50 index is in the cusp of giving a fresh breakout at 26,300. On breaking above this level, the index may soon touch 26,700 mark. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart,” Bagadia said.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, November 24. The three stock picks by Bagadia are – Coastal Corporation, Malu Paper Mills, and Global Education.
1] Coastal Corporation: Buy at ₹45.94 | Target Price: ₹49.5 | Stop Loss: ₹44.25
2] Malu Paper Mills: Buy at ₹41.48 | Target Price: ₹44.5 | Stop Loss: ₹39.9
3] Global Education: Buy at ₹80 | Target Price: ₹86 | Stop Loss: ₹77
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
