3 Dividend Stocks To Buy On November 28: Prabhudas Lilladher Recommends Mazagon Dock, BSE, Castrol

This week's trading session will kick start on Tuesday as the stock market was closed on November 27th due to the celebration of Gurunanak Jayanti. On November 28th, Prabhudas Lilladher's technical analyst expects the Nifty index to find support toward 19,700, and resistance closer towards the 20,000 mark. Today, the brokerage has recommended buying three stocks namely Mazagon Dock Shipbuilders, BSE, and Castrol India. These three have one thing in common they are high dividend-paying stocks in their respective segments.

For Tuesday, Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher expects the Nifty spot index to find support between 19,700/19,650, while resistance to be around 19,900/19,950.

Meanwhile, Koothupalakkal expects the Bank Nifty index to find support in the range of 43,500/43,450, and resistance around 44,000/44,050.

In the previous trading sessions, the market ended in red with Sensex down by 47.77 points or 0.072% to 65,970.04, and Nifty lower by 7.30 points or 0.037% to 19,794.70. However, in the trading week between November 20th to November 24th, Sensex and Nifty gained by 274.80 points and 62.70 points overall respectively.

Last week, the primary market was flooded with IPOs which witnessed record-breaking responses from investors across categories. A staggering Rs 2.6 lakh crore was pumped into five firms that looked to raise about Rs 7,379 crore through an initial public offering. These IPOs were -- Tata Technologies, Flair Writing Industries, Fedbank Financial, Gandhar Oil Refinery, and the Indian Renewable Energy Development Agency (IREDA). There was also an SME IPO of Rockingdeals Circular Economy which received stellar demand as well.

Stocks to buy on November 28th:

Koothupalakkal picked three stocks to buy during the intraday trade. These were:

- BUY MAZAGON DOCK at 2039 stoploss 2010 Target 2120

- BUY BSE LTD at 2170 stoploss 2150 Target 2300

- BUY CASTROL INDIA at 140.50 stoploss 137 Target 150

These three stocks have paid hefty dividends this year notably. Year-to-date, Mazagon Dock Shipbuilders paid up to 222% dividends aggregating to Rs 22.2 per share. Meanwhile, BSE paid a dividend of 600% aggregating to Rs 12 per share, and Castrol India paid up to 130% dividends amounting to Rs 6.5 per share so far in 2023.

Meanwhile, Sanjiv Bhasin, Director at IIFL Securities in his technical view for Tuesday's trade said, "Nifty finds support around 19750 while 19950 will act as resistance. Bank Nifty finds support around 43500 while 44000 will act as resistance on the upside." He also recommended buying the following securities:

- Trading call:(1-14 days) BUY New India Assurance @ 205-210, stop loss 200 & target 235

- Derivative call-time period: (1 month) BUY Ambuja Cement November future @ 414-416, stop loss 406.75 & target 424

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author or Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.