The Indian stock market ended on a positive note, driven by gains in the auto, IT, and consumption sectors.
The Nifty 50 closed at 24,188.65, and the BSE Sensex climbed 1.83% to settle at 79,943.71, while the Nifty Media sector lagged behind, closing in the red.
Top performers included Eicher Motors (+8.65%), Bajaj Finserv (+7.88%), Bajaj Finance (+6.32%), and Maruti (+5.65%), with Sun Pharma (-0.63%) and Britannia (-0.14%) leading the losses.
Indian Stock Market’s Outlook:
The Nifty’s breakout above the 24,000 mark signals the start of a potential new market trend, supported by its position above the 20-day moving average (24,013.25).
Similarly, Bank Nifty closed above its 100-day moving average of 51,590.15, ending at 51,605, further strengthening the bullish outlook.
Three stocks to buy, recommended by Ankush Bajaj:
Voltas Ltd: Buy at ₹1835; Target ₹1885-1910; Stop Loss ₹1760.
The stock has breached the critical level of 1810 with strong trading volume, signaling the potential for a significant uptrend.
Aurobindo Pharma Ltd: Buy at ₹1348; Target ₹1405-1426; Stop Loss ₹1320.
With the recent bullish momentum in the pharma sector, this stock stands out as a promising buy opportunity.
Laurus Labs Ltd: Buy at ₹617; Target ₹645-665; Stop Loss ₹584.
The stock has broken its recent high on the charts, presenting a strong opportunity for a bullish trade.
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Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
