Home/ Markets / Stock Markets/  Buy or sell: Anuj Gupta of IIFL Securities recommends 5 stocks to buy this week

Buy or sell stock for Monday: Following weakness in global market sentiments, Indian stock market ended lower for second straight session. Nifty 50 index corrected over 0.75 per cent and finished at 16,945 levels, losing the psychological 17,000 mark whereas Nifty Bank index lost over 0.55 per cent and ended at 39,395 levels. 30-stock index BSE Sensex lost 0.69 per cent and closed at 57,527 levels. In broad market, small-cap index lost 1.37 per cen while mid-cap index went down 1.25 per cent on Friday deals.

Stock market strategy for next week

Anuj Gupta, Vice President — Research at IIFL Securities believes that Nifty has strong support placed at 16,800 levels and on the upper side 17,200 is major hurdle for the 50-stock index. He said that on breaching the 16,800 support levels, Indian stock market may become more bearish. The IIFL Securities expert said that US air strike in Syria as claimed by the US Department of Defense may hit global equity markets if the geo-political tension further escalates. Anuj Gupta advised investors to keep an eye on the crude oil price movement during morning trade session in Asian markets on Monday. He said that any rise in crude oil prices could be highly detrimental for the Indian stock markets next week.

Buy or sell stock

On stocks to buy next week, Anuj Gupta of IIFL Securities recommended five shares for upcoming week and those five stocks are Infosys, SBI Card, Kotak Mahindra Bank, Tata Steel and Tata Motors.

Here we list out full details in regard to IIFL Securities stock recommendations for next week:

1] Infosys: Share price of this IT company may go up to 1,410 apiece levels as Infosys share has rebounded from the oversold zone. One can buy this IT stock at CMP for maintaining stop loss at 1,342 levels.

2] SBI Card: Shares of this SBI subsidiary has delivered breakout on chart pattern at 710 and it has been sustaining above this breakout levels. So, one can buy this stock at CMP for near term target of 760 maintaining stop loss at 698 apiece levels.


3] Kotak Mahindra Bank: Shares of this banking stock has been witnessing rise in trade volume in recent sessions and it has been giving positive closing despite weak sentiments on Dalal Street. One can buy this banking stock at CMP for near term target of 1,715 apiece. However, one must maintain stop loss at 1,654 per share levels.


4] Tata Steel: Share price of this Tata group company is close to its support zone and accumulation at this levels is widely expected. S, short term relief rally in Tata Steel share is expected and one can buy the scrip on Monday for short term target of 114 maintaining stop loss at 94 apiece levels.


5] Tata Motors: Share price of this flagship Tata group company is close to its support levels and bounce back in the scrip is expected as bargain hunters may accumulate at discounted levels. So, one can buy Tata Motors shares for short term target of 450 per share levels. However, one must maintain stop loss at 388 while taking position in this auto stock.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Updated: 27 Mar 2023, 05:14 AM IST
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