1 week ago
Sumeet Bagadia Names Three Stocks to Buy Monday
The Indian stock market had a difficult and bumpy week.
The Nifty 50 fell for seven trading sessions before recovering on Thursday.
The recovery followed news that the US Treasury planned to increase purchases of long-term government debt.
Sumeet Bagadia believes the market could continue recovering if the Nifty stays above 24,000.
He also said the market is still cautious because momentum is not especially strong.
For Monday, he recommended buying HDFC Life, Nestle India, and BEL.
Each recommendation has a price target and a stop-loss level to limit potential losses.
He expects the market to remain range-bound unless it moves clearly above or below important levels.
Sumeet Bagadia recommended HDFC Life, Nestle India, and BEL for Monday trading.
He said the Nifty 50’s broader recovery structure remains intact above the 24,000–24,050 support zone.
The Nifty 50 rose 0.64% to close at 24,231.85 after a seven-session losing streak.
Bagadia identified 24,350–24,400 as a crucial resistance area and 24,000 as key support.
His recommendations include specific entry prices, upside targets, and stop-loss levels for all three stocks.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, and investors in Indian equities.
- What
- Bagadia recommended buying HDFC Life, Nestle India, and BEL, while outlining the Nifty 50’s technical outlook.
- Where
- The Indian stock market.
- When
- The recommendations are for Monday, 24 August 2026; the Nifty 50 recovery described occurred on Thursday.
- Why
- Bagadia sees a cautious positive setup because the Nifty 50 remains above key support, while the three stocks show technical patterns he considers favorable.
Key facts
- Nifty 50 close
- 24,231.85 after rising 0.64% on Thursday.
- Key Nifty support
- The 24,000–24,050 zone.
- Key Nifty resistance
- The 24,350–24,400 zone, near the 50-day moving average.
- HDFC Life call
- Buy at ₹560; target ₹586; stop loss ₹530.
- Nestle India call
- Buy at ₹1,477; target ₹1,555; stop loss ₹1,420.
- BEL call
- Buy at ₹414; target ₹444; stop loss ₹399.
- Market volatility
- India VIX rose 4.09% to 11.20.
Quotes
Sumeet Bagadia
Executive Director at Choice Broking and the source of the market outlook
“The 24,350–24,400 zone is therefore crucial on the upside, coinciding with the 50-DMA area. A sustained move above this band could strengthen the recovery towards 24,500, whereas failure to hold 24,000 may bring renewed selling pressure. Overall, the index remains range-bound, with a cautious positive bias above the key support zone.”
livemint.com
Sources
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