Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — April 22

Buy oregon merchantability banal ideas by Choice Broking expert

Sumeet Bagadia, Executive Director astatine Choice Broking believes that the Indian banal marketplace bias has improved aft the Nifty 50 scale closed supra the 50-DEMA level of 22,110 zone. However, the Choice Broking adept maintained that the 50-stock scale needs to adjacent supra 22,350 to 22,400 levels for further betterment of the Dalal Street trends. On stocks to buy connected Monday, Sumeet Bagadia recommended 3 buy oregon sell banal ideas — ICICI Bank, Maruti Suzuki India Ltd oregon MSIL, and Hindustan Copper.

Sumeet Bagadia's stocks to bargain connected Monday

1] ICICI Bank: Buy astatine ₹1067.25, people ₹1140, halt nonaccomplishment ₹1030.

ICICI Bank stock terms is presently trading astatine ₹1067.25, having precocious retested the regular trendline and formed a bullish piercing pattern, indicating a imaginable bullish reversal. On the regular scale, ICICI Bank stock terms is showing a signifier of higher highs and higher lows, suggesting a beardown uptrend.

The Relative Strength Index (RSI) for ICICIBANK stands astatine 45.10, indicating country for imaginable upside successful ICICI Bank shares. Additionally, the Stochastic RSI shows a affirmative crossover, further supporting the bullish sentiment. Notably, the banal is trading supra each large moving averages, highlighting its spot successful the market.

Considering these method indicators and the prevailing marketplace conditions, the existent level of ₹1067.25 presents a favorable buying accidental for ICICI Bank stock price. The trade's people is acceptable astatine ₹1140, with a recommended stop-loss astatine ₹1030 to negociate imaginable risks.

In summary, based connected the method investigation and existent marketplace dynamics, initiating a agelong presumption connected ICICI Bank stock terms astatine the existent marketplace terms is advantageous, with a people of ₹1140 and a prudent stop-loss acceptable astatine ₹1030. Traders should enactment vigilant and set their strategies successful effect to changing marketplace conditions.

2] Maruti Suzuki: Buy astatine ₹12711, people ₹13700, halt nonaccomplishment astatine ₹12050.

Maruti stock terms displays an intriguing method landscape. Currently, the banal is trading precise adjacent to its all-time precocious levels of ₹12895.70 astatine ₹12710.95 levels. Once the Maruti stock terms crosses the mentioned all-time precocious levels we tin witnesser a crisp up determination successful Maruti shares. The captious enactment level astatine ₹12050 levels signifies humanities buying involvement and provides a instauration for the stock's terms stability. This level serves arsenic a imaginable halt for downward movements.

The Relative Strength Index (RSI) presently stands astatine 61.53, indicating a supportive situation for terms gains. It's not yet successful overbought territory, suggesting country for further growth. Crucially, Maruti stock terms is trading supra each important moving averages, emphasizing its underlying spot and affirmative sentiment.

Based connected the supra investigation we urge buying Maruti stock terms astatine the CMP of ₹12710.95, it tin besides beryllium purchased connected dips adjacent ₹12350 with a halt nonaccomplishment of ₹12050 for the targets of ₹13700 and above.

3] Hindustan Copper: Buy astatine ₹364.10, people ₹430, halt nonaccomplishment ₹320.

Hindustan Copper stock is presently trading astatine ₹364.10, consolidating supra the 345 level for the past weak, reaching an all-time high, indicating terms stability. This upward momentum is supported by a accordant signifier of higher highs and higher lows connected the regular chart, accompanied by robust trading volume. These patterns underscore a beardown upward trajectory successful the stock.

The Relative Strength Index (RSI) Hindustan Copper shares basal astatine 73.25 and are connected an upward trend, signifying a important surge successful buying momentum. Both RSI and Stochastic RSI successful the overbought portion suggest that positional traders whitethorn see holding their positions, and implementing a trailing stop-loss.

The wide inclination for HINDCOPPER is bullish, with confluence from assorted method indicators reinforcing the optimistic outlook. Given these signals, determination is imaginable for the banal to execute a people terms of ₹430 successful the adjacent term.

It is advisable to see buying connected dips, peculiarly astir ₹340, capitalizing connected imaginable retracements successful the banal price. To prudently negociate risk, implementing a stop-loss (SL) astatine ₹320 is recommended. This precautionary measurement is important to safeguard investments successful the lawsuit of an unexpected marketplace reversal.

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 20 Apr 2024, 01:39 PM IST