Direct Selling News

Buy or Sell: 3 Stocks to Watch This Week on 3rd July Sumeet Bagadia’s 3 Stock Recommendations for the Market next week   Indian stock market concluded the week on a positive note, buoyed by robust global market sentiments and healthy macroeconomic indicators. On Friday, both the Nifty 50 index and BSE Sensex achieved record highs, reaching 19,201 and 64,768, respectively. The Bank Nifty also surged to a new peak of 44,787 during the Friday trading session. Resistance & Support Level: -To maintain its upward momentum, the Nifty needs to hold above the 19,100 zones, with potential targets at 19,300 and 19,500. -On the downside, there is support at 19,000 and 18,888 levels, which may act as potential support zones in case of corrections. The Technicals this week -Chandan Taparia of Motilal Oswal suggests that the Nifty needs to stay above 19,100 for the bullish trend to continue. -Volatility remains below 11 zones, further supporting the positive sentiment in the market. On stocks to buy, Sumeet Bagadia recommended three stocks for next week. Infosys: Buy around- Rs. 1,335 Target- Rs. 1,430, Stop loss- Rs. 1,277. The Technicals -The stock has recently broken out above its 50-day exponential moving average (EMA) after a consolidation period of four months. -This breakout indicates a potential reversal of the downward trend and suggests increased buying interest in the stock. Company Overview The company operates in the IT (Information Technology) sector and provides a wide range of solutions and services to clients across various industries. Promoter: Infosys was founded by a group of entrepreneurs led by Narayana Murthy, Nandan Nilekani, and others.