Sumeet Bagadia's stock recommendations

Sharing Choice Broking's Sumeet Bagadia's stock recommendations for the upcoming week. Here's a summary of the stocks he recommended and the key points from his analysis:

1. Britannia Industries Ltd:

   • Current Market Price: 4535
   • Recent Decline: Approximately 12% from its recent peak
   • Support Level: Established around 4400
   • Relative Strength Index (RSI): Indicates an oversold condition
   • Recommendation: Bagadia suggests a bullish stance on Britannia's stock with a target price of 4745. A stop-loss order is recommended at 4400 to manage potential downside risks.

2. Ambuja Cements Ltd:

   • Current Market Price: 453.05
   • Technical Analysis: The stock is trading above important moving averages, and there's potential for a breakout.
   • Support and Target Levels: Bagadia recommends buying on dips, with a target of 480. Any dip around 445 levels is seen as a buying opportunity.
   • Caution: If the stock closes below 433, the analysis may become invalid.

3. Reliance Industries Ltd:

   • Current Market Price: 2556.80
   • Support and Resistance Levels: Strong support at 2520 and some resistance near 2585.
   • Technical Indicators: The stock is trading above important moving averages, and the RSI indicator is at 58, indicating upward potential.
   • Recommendation: Bagadia recommends buying Reliance Industries at the current market price with a medium-term outlook and a stop loss at 2480. The target is set at 2630.

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