Stocks To Buy: Intraday BUY/SELL Calls By Sumeet Bagadia On Monday, 2nd Dec

Despite the U.S. stock market holiday, the heavyweight of Dalal Street managed to attract strong buying in the November 2024 last session, helping frontline indices to conclude higher. The Nifty 50 Index opened with a marginal gain and ended at the 24,122 mark, 208 points higher, the BSE Sensex ended at 79,743, 699 points higher, while the Bank Nifty Index closed at 52,023, gaining 117 points.

The upward move continued in the Nifty Mid-cap 100 and Small-cap 100 indices, gaining 0.16 and 0.75%, respectively. Declining shares were outnumbered by advancing shares, and the advance-decline ratio stayed at 1.44 on BSE. Adani Group Stocks- Adani Energy Solutions, Adani Green Energy, and Adani Total Gas gained around 23% after their inclusion in the F&O segment on 29th November 2024.

According to the Executive Director at Choice Broking, Sumeet Bagadia, since the Nifty 50 Index reclaimed the 21-DEMA support at 24,5050, there has seen an improvement in the Indian Stock market. However, the expert also stated that the 50-stock index is facing an obstacle at 24,400, so, one should not take bulk calls. If the current support is broken, the frontline index may see 23,550 levels. So, day traders should approach cautiously, following a stock-specific strategy.

Sumeet Bagadia’s stock recommendations

Mahindra & Mahindra

The stock is trading at 2966, 10, continuing an uptrend. The positive momentum is confirmed by the stock’s positioning above 20-day, 50-day, and 200-day EMA levels.

Tata Consumer Products

According to the chart of Tata Consumer Products, there is a sign of potential upward momentum. However, it must first overcome its 20-day and 50-day EMA to signal a strong recovery. A breakout above such levels can push a bullish move, and the target would be 1030.

ONGC

The share chart of ONGC is showing signs of recovery; however, it is still in a downtrend. The current price is around 256, 70, and the rise from its support levels at 242 indicates that things may improve if the stock gains more support from the buyers.