Stock Picks Under ₹100: Sumeet Bagadia Identifies Three Potential Buying Opportunities

Indian Stock Market Ends Week on a Strong Note

The Indian stock market wrapped up the shortened week on a strong note, marking its second straight week of gains. The easing of geopolitical concerns and improving investor risk appetite drove the market, with hopes of a possible US–Iran peace deal boosting sentiment. Steady domestic fundamentals also contributed to the positive momentum, despite bouts of volatility. As a result, both the Nifty 50 and Sensex rose by over 1%, ending the week at 24,353.55 and 78,493.54, respectively.

Nifty 50 Index

The Nifty 50 index began the session on a slightly weak note, opening about 32 points lower at 24,165.9. It initially declined further to register an intraday low of 24,096.05. However, the index later witnessed strong buying momentum, leading to a steady upward rally that pushed it close to the day's high of 24,371.9. Ultimately, Nifty settled at 24,353.55, gaining 156.80 points (0.65%). This marks a significant recovery, reflecting underlying strength and positive market sentiment.

| Index | Opening Price | Intraday Low | Intraday High | Closing Price | Gain/Loss | | --- | --- | --- | --- | --- | --- | | Nifty 50 | 24,165.9 | 24,096.05 | 24,371.9 | 24,353.55 | +156.80 (0.65%) |

Bank Nifty Outlook

The banking benchmark index, Nifty Bank, started the session on a flat note with a minor decline of around 13 points at 56,072.40. It extended its losses in early trade to touch an intraday low of 55,841.65. However, the index later staged a strong recovery, rebounding nearly 785 points from the day's low to hit a high of 56,628.7. It eventually settled at 56,565.7, registering a gain of 479.30 points (0.85%), showcasing strong buying interest and resilience at lower levels.

Stock Picks

Sumeet Bagadia, Executive Director at Choice Broking, has recommended three stocks to buy on Monday, April 6. The three stock picks by Bagadia are:

1. Trident: Buy at ₹26.12 | Target Price: ₹27.94 | Stop Loss: ₹25.22
2. NMDC: Buy at ₹89.78 | Target Price: ₹96.06 | Stop Loss: ₹40.53
3. NBCC (India): Buy at ₹94.32 | Target Price: ₹101 | Stop Loss: ₹91.01

Bagadia advises traders to remain cautious in the derivatives segment, as significant put writing at the 24,200 strike and aggressive call writing at the 24,500 strike indicate that the index is likely to consolidate within a narrow range in the near term.