Mint’s Nov. 1 market outlook put three Indian stocks priced below ₹100 in focus and outlined resistance levels for the Nifty 50, while exchange data showed the index finished Oct. 30 below that band.
Mint attributed the recommendations to Sumeet Bagadia, Choice Broking’s executive director. The outlet reported entry levels of ₹53.39 for SJVN, ₹77.74 for NHPC and ₹81.36 for Bank of Maharashtra.
Mint paired SJVN with a target of ₹58.59 and a stop-loss of ₹50.40. Its figures for NHPC were a target of ₹85 and a stop-loss of ₹73.80; for Bank of Maharashtra, the target was ₹89 and the stop-loss was ₹77.
National Stock Exchange of India Ltd. data show the Nifty 50 closed at 23,053.10 on Oct. 30. That was 96.9 points below 23,150, the lower boundary of the resistance range Mint attributed to Bagadia.
Mint reported that Bagadia identified 22,800–22,900 points as near-term support for the index, with resistance extending from 23,150 to 23,200. The outlet also placed the 50-day exponential moving average near 23,160 and said the index had yet to reclaim it. Mint cited geopolitical tensions and elevated crude-oil prices as risks to Indian markets.
EconoTimes previously covered a separate Bagadia call on Titan shares.
