Sumeet Bagadia recommends three stocks priced under ₹100
Choice Broking Executive Director Sumeet Bagadia suggests buying SJVN, NHPC, and Bank of Maharashtra.
Sumeet Bagadia, Executive Director at Choice Broking, has recommended three shares priced under ₹100, namely SJVN, NHPC, and Bank of Maharashtra.
For SJVN, Bagadia suggested a buy at ₹53.39 with a target of ₹58.59 and a stop-loss of ₹50.40. He recommended NHPC at a buy price of ₹77.74, targeting ₹85 with a stop-loss of ₹73.80.
Regarding Bank of Maharashtra, the expert advised buying at ₹81.36 with a target of ₹89 and a stop-loss of ₹77.
Bagadia noted that the immediate upside for the Nifty 50 is capped as it has yet to reclaim its 50-day EMA near 23,160. He placed immediate support for the Nifty at 22,800–22,900, while 23,150–23,200 remains the crucial resistance zone.
The Nifty 50 ended the week at 23,053.10, rising 2 per cent. The Sensex gained 1.8 per cent to reach 74,459.53.
The Bank Nifty setup remains weak, trading below its 20-day EMA near 54,968 and 50-day EMA around 55,646. Bagadia sees immediate support for the index around 54,500–54,600.