Indian stock market: The Indian stock market snapped its four-day losing streak on Friday, December 19, closed with solid gains, led by a steady rupee, psoitive global cues, and the Bank of Japan’s policy outcome meeting expectations.
The Sensex advanced 448 points, or 0.53%, to end at 84,929.36, while the Nifty 50 gained 151 points, or 0.58%, to settle at 25,966.40. Broader markets outperformed, with the BSE Midcap index rising 1.26% and the Smallcap index climbing 1.25%.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment has improved as the Nifty 50 index bounced back strongly after testing the 50-DEMA support placed at 25,750.
“The 50-stock index is sustaining above the 50-DEMA support and finished at 25,950 levels on Friday. The index is facing a hurdle at the 26,000 to 26,050 band. Breaking above this hurdle on a closing basis would strengthen the bull's conviction. On the downside, breaking below 25,750 would weaken market sentiment, as the key benchmark index would then attempt to test the next crucial support level at 25,400 to 25,350,” Bagadia said.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, December 22. The three stock picks by Bagadia are - Asian Granito India, Lloyds Enterprises, and Jayaswal Neco Industries.
1] Asian Granito India: Buy at ₹1220-1230 | Target Price: ₹1270 | Stop Loss: ₹1180
2] Lloyds Enterprises: Buy at ₹840-845 | Target Price: ₹880 | Stop Loss: ₹820
3] Jayaswal Neco Industries: Buy at ₹1440-1450 | Target Price: ₹1500 | Stop Loss: ₹1400
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
