Stocks to purchase on Budget 2024: Sportking India, AWHCL, Nitin Spinners, RCF, and Gravita India are the five securities that Sumeet Bagadia advises purchasing right now.
Stocks to purchase in anticipation of the Union Budget 2024: On Monday, the Indian stock market finished the day down after being unchanged ahead of the budget. The BSE Sensex dropped 102 points to settle at 80,502, the Bank Nifty index finished 14 points higher at 52,280, and the Nifty 50 index concluded 21 points lower at 24,509 points. On the NSE, cash market volumes decreased by 9.4%. The advance-decline ratio rebounded to 1.30:1, although the broad market indexes concluded favorably.
Choice Broking Executive Director Sumeet Bagadia thinks investors may keep trading carefully in the Indian stock market as they wait for the Modi 3.0 government’s ultimate economic program. According to Bagadia, the 50-stock index has formed a critical base around roughly 24,100, while the Nifty 50 index confronts a barrier between roughly 24,800 to 24,850. A stock-specific strategy was his recommendation up till Nirmala Sitharaman’s budget speech was completed. But for intraday trading, he advised looking at breakout stocks because some still have good chart patterns.
Stocks of Sumeet Bagadia to purchase now
Sumeet Bagadia gave the following assessment of the Indian stock market’s future: “The 50-stock index is confronting a significant obstacle in this range as the Nifty 50 index has once again retraced from 24,800 to 24,850. Additionally, the frontline index has shown signs of strength, as seen by its bounce back from the 24,100 level. Therefore, on breaking out of either side of the range, one might anticipate a bullish or bearish trend.”
According to Bagadia, a lot of equities had a breakout on Monday, and some of them still have strong chart patterns. When asked which breakout stocks were best to purchase right now, Bagadia suggested purchasing these five shares in advance of the 2024 Budget: AWHCL, RCF, Sportking India, and Nitin Spinners, Gravita India, and RCF.
