3 weeks ago
Sumeet Bagadia Stock Picks: Federal Bank, M&M, TCS
This article is about the Indian stock market, where people buy and sell pieces of companies.
Last Friday, the stock market went down because some big finance companies lost value, there was worry about peace talks in the Middle East, and people were waiting for a jobs report from America.
The Reserve Bank of India also suggested new rules that might make it harder for some finance companies to lend money, and that worried investors.
A stock expert named Sumeet Bagadia looked at the charts and said the market is still mostly doing okay.
He thinks the main Indian stock index will likely stay between 24,300 and 24,750 points for now.
He also gave advice on three stocks to buy on Monday: Federal Bank, Mahindra & Mahindra, and TCS.
For each stock he gave a buy price, a target price where investors might sell for profit, and a stop-loss price to limit losses.
The expert says the overall trend is positive, but the market needs to break above 24,700 to gain stronger momentum.
Indian benchmark indices ended lower Friday on a sell-off in financial stocks, Middle East uncertainty, and caution ahead of US non-farm payroll data.
The RBI's draft proposal to tighten lending norms for NBFCs pressured financials, with Bajaj Finance and Bajaj Finserv among the biggest drags.
Choice Broking's Sumeet Bagadia sees Nifty support at 24,300-24,370 and resistance at 24,700-24,750, with an expected trading range of 24,300-24,750.
Bank Nifty is expected to trend sideways to bearish unless it reclaims the 57,800-58,000 resistance zone, with support at 57,200-57,400.
Bagadia recommends buying Federal Bank (target ₹390), Mahindra & Mahindra (target ₹3800), and TCS (target ₹2700) for Monday's session.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, made the stock recommendations; Bajaj Finance, Bajaj Finserv, Federal Bank, M&M, and TCS are the key companies mentioned.
- What
- Stock market analysis and buy recommendations for Federal Bank, M&M, and TCS, following a sell-off in financial stocks.
- Where
- Indian stock market, referencing the Nifty 50 and Bank Nifty indices.
- When
- Recommendations are for Monday, 10 August 2026, following Friday's lower close.
- Why
- Investors are cautious due to the RBI's draft proposal to tighten NBFC lending norms, Middle East uncertainty, and the upcoming US non-farm payrolls report.
Key facts
- Federal Bank Buy Price
- ₹356
- Federal Bank Target
- ₹390
- M&M Buy Price
- ₹3502
- M&M Target
- ₹3800
- TCS Buy Price
- ₹2453
- TCS Target
- ₹2700
- Nifty 50 Expected Range
- 24,300-24,750
- Bank Nifty Expected Range
- 57,200-58,000
Quotes
Sumeet Bagadia
Executive Director at Choice Broking
“Immediate support is placed at 24,300–24,370, while 24,700–24,750 remains the key resistance zone. A sustained move above resistance could trigger fresh buying momentum, whereas a break below support may prompt short‑term profit‑booking. The expected trading range for the next session is 24,300–24,750.”
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