Stocks to buy: NTPC to United Spirits—SMC Global Securities lists four stocks to bet on this week with up to 20% upside | Stock Market News
Source: Live Mint
The Indian stock market clocked healthy gains for the third consecutive session on Tuesday, December 3, led by gains in shares of select heavyweights, including Reliance Industries, HDFC Bank and Larsen and Toubro. Benchmark index Nifty 50 jumped 0.85 per cent to the level of 24,481.35 in intraday trade, breaking above its 50 and 100-day exponential moving averages (DEMA).
The index finally closed 0.75 per cent higher at 24,457.15. The Sensex ended the day with a gain of 598 points, or 0.74 per cent, at 80,845.75.
In the three sessions, both the Nifty 50 and the Sensex have gained 2.3 per cent each.
According to Trendlyne, an equity research platform, Nifty 50 is above its 100-day EMA of 24,306 and 50-day EMA of 24,364. However, the index is yet to breach its 50-day and 100-day simple moving averages (SMAs) of 24,643.9 and 24,700.4, respectively.
The domestic market is witnessing a broad buying interest as the mid and smallcap segments also clocked healthy gains. The Nifty Midcap 150 (up 0.88 per cent) and the Nifty Smallcap 250 index (up 0.94 per cent) jumped up by a per cent.
In the current market scenario, domestic brokerage firm SMC Global Securities has released its top four stock picks for this week. The brokerage has selected the following stocks based on technical and fundamental parameters. According to the brokerage, the stocks have robust fundamentals and are well-placed to yield good returns for investors in the next one year.
