Invest in SBI and Bajaj Consumer for Potential 6% Gains This Monday
Market Trading Guide: Buy SBI and Bajaj Consumer on Monday for gains up to 6%
The Economic Times
Image: The Economic Times
The Nifty index has shown positive momentum, suggesting a bullish trend. Analysts recommend buying shares of State Bank of India (SBI) at ₹1,067 and Bajaj Consumer Care at ₹432, both targeting gains of up to 6%. Market conditions may shift if no truce is reached over the weekend.
- 01Nifty index shows positive momentum after a brief pause.
- 02State Bank of India (SBI) shares recommended at ₹1,067 with a target of ₹1,120-₹1,130.
- 03Bajaj Consumer Care shares recommended at ₹432 with a target of ₹455-₹460.
- 04Immediate support for Nifty is at 23,800; resistance is between 24,300-24,350.
- 05Market reaction may be negative if no truce deal is reached.
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The Nifty index has resumed its upward trajectory, reflecting a bullish market environment after a brief pause. According to Rupak De, Senior Technical Analyst at LKP Securities, the Relative Strength Index (RSI) is in a bullish crossover, indicating strengthening momentum. Traders should watch for immediate support at 23,800 and resistance between 24,300 and 24,350. Analysts recommend buying shares of State Bank of India (SBI) at ₹1,067, targeting ₹1,120-₹1,130 with a stop loss at ₹1,035. Additionally, Bajaj Consumer Care shares are suggested at ₹432, with a target of ₹455-₹460 and a stop loss at ₹420. However, the market may react negatively if a truce deal is not finalized over the weekend.
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Investors in SBI and Bajaj Consumer Care could see gains of up to 6%, influencing their portfolio performance positively.
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