The Indian stock market displayed a mixed response on Tuesday, March 11, with both the Sensex and Nifty 50 indices reflecting rising uncertainty tied to the economic consequences of U.S. President Donald Trump’s tariff strategies. Starting the day at 73,743.88, the Sensex dipped from its previous close of 74,115.17, hitting an intraday high of 74,195.17 before falling to a low of 73,663.60. Ultimately, the index concluded the day down by 13 points, or 0.02%, closing at 74,102.32.
Nifty 50 Performance and Market Sentiment
On the other hand, the Nifty 50 index opened at 22,345.95, slightly lower than the previous day’s close of 22,460.30. During the trading session, it reached a high of 22,522.10 and a low of 22,314.70. The Nifty 50 managed to end on a positive note, gaining 38 points, or 0.17%, to close at 22,497.90.
Insights from Market Expert Sumeet Bagadia
Sumeet Bagadia, Executive Director at Choice Broking, has observed a shift in the overall sentiment of the Indian stock market. He noted that the Nifty 50’s recovery from its support level, nearing 22,500, signifies a positive trend. Bagadia commented, “This movement signals a growing confidence in the frontline index as it approaches 22,800. However, a sustained bullish trend will depend on the Nifty decisively surpassing the 23,000 mark.”
Recommended Breakout Stocks
For investors looking to capitalize on the current market conditions, Bagadia has suggested a stock-specific approach. He highlighted several breakout stocks that are poised for growth:
- Jindal Drilling and Industries
- Bharti Hexacom
- Kiri Industries
- Hikal
- TAJ GVK Hotels and Resorts
Stock Recommendations for Today
Here are the specific buy recommendations from Bagadia for today:
-
Jindal Drilling and Industries
- Buy Price: ₹949
- Target: ₹1020
- Stop Loss: ₹920
-
Bharti Hexacom
- Buy Price: ₹1460
- Target: ₹1555
- Stop Loss: ₹1410
-
Kiri Industries
- Buy Price: ₹601.95
- Target: ₹660
- Stop Loss: ₹585
-
Hikal
- Buy Price: ₹390.95
- Target: ₹416
- Stop Loss: ₹377
- TAJ GVK Hotels and Resorts
- Buy Price: ₹500.95
- Target: ₹535
- Stop Loss: ₹485
Investors are encouraged to keep an eye on these stocks as they may offer lucrative opportunities in the current market landscape. By focusing on technical strengths and potential breakouts, traders can better navigate the fluctuations in the Indian stock market.
