Indian Stock Market Sees Gains: Expert Advice on Top Stocks to Buy

Indian Stock Market Shows Promise

The Indian stock market benchmarks, the Sensex and the Nifty 50, have seen healthy gains for the second straight session. This is due to buying in metal shares and positive global trends following the rate cut by the US Federal Reserve. The 30-share BSE Sensex climbed 449.53 points or 0.53% to settle at 85,267.66.

Stock Market Outlook for Next Week

Sumeet Bagadia, Executive Director at Choice Broking, says the Indian stock market sentiment has improved as the Nifty 50 index sustained above 26,000 levels after breaking above this psychological level. He advises maintaining a stock-specific approach and looking at those stocks that are looking strong on the technical chart.

Top Stocks to Buy Next Week

Sumeet Bagadia recommends the following three stocks to buy:

• Eternal: Buy at ₹298, Target: ₹320, Stop loss: ₹287. The stock has recently taken support near the 279–280 zone and shows early signs of accumulation at lower levels.
• Maruti Suzuki: Buy at ₹16,522, Target: ₹17,500, Stop loss: ₹16,050. The stock maintains a firm uptrend and has resumed its upward movement, supported by a series of higher highs and higher lows.
• Nestle India: Buy at ₹1,238, Target price: ₹1,330, Stop loss: ₹1,200. The stock has taken strong support around the 1,200–1,205 zone and shows resilience despite short-term weakness.

These stocks are expected to perform well in the coming week, but it's essential to keep an eye on the market trends and consult with certified experts before making any investment decisions.

Key Takeaways

The Indian stock market is showing promise, and with the right strategy, investors can make informed decisions. Remember to:

• Keep an eye on the Nifty 50 index and its levels.
• Maintain a stock-specific approach and look for strong technical charts.
• Consult with certified experts before making any investment decisions.

Stay informed, and happy investing!