On Friday, the Sensex hit a new high of 75,636.50 but couldn’t hold onto its gains, ending 8 points lower at 75,410.39. The Nifty 50 also reached a new high of 23,026.40, but closed 11 points down at 22,957.10.
Prashanth Tapse, a research analyst at Mehta Equities, said the Nifty 50’s milestone of 23,000 is worth celebrating. Despite a volatile session and weak cues from Wall Street, the benchmark managed to stay just below its previous close.
Investors remain confident due to expectations of continuity in the current regime after general elections and falling oil prices, which are now around $76 a barrel.
Stocks to Buy on Monday, May 27
Sumeet Bagadia recommends buying three stocks on Monday: Larsen & Toubro (L&T), Axis Bank, and Bharti Airtel Ltd.
Larsen & Toubro (L&T)
- Current Price: ₹3,625
- Target Price: ₹3,860
- Stop-Loss: ₹3,475
L&T is trading at ₹3,625 and showing a strong recovery. The price action suggests a bullish reversal, with the potential to reach ₹3,860 soon. The stock is above key moving averages, which supports a positive outlook. Buying at the current price and on dips near ₹3,525 is advised, with a stop-loss at ₹3,475 to manage risk.
Axis Bank Ltd
- Current Price: ₹1,174
- Target Price: ₹1,270
- Stop-Loss: ₹1,105
Axis Bank is showing bullish signs, forming a rounding bottom pattern. It has rebounded from the ₹1,125 support level and is now trading at ₹1,174, above its key moving averages. The next resistance is at ₹1,185, and breaking this could drive the stock to ₹1,270. It’s recommended to buy at the current price and on dips near ₹1,150, with a stop-loss at ₹1,105.
Bharti Airtel Ltd
- Current Price: ₹1,388.50
- Target Price: ₹1,490
- Stop-Loss: ₹1,330
Bharti Airtel is currently trading at ₹1,388.50, showing strong bullish momentum. It recently broke out above ₹1,360 with significant volume, indicating more potential gains. The stock has strong support near ₹1,330, aligning with its 20-day moving average. With the potential to reach ₹1,490, it’s recommended to buy at the current price and on dips near ₹1,350, with a stop-loss at ₹1,330.
Conclusion
Based on the technical analysis and market conditions, these three stocks—Larsen & Toubro, Axis Bank, and Bharti Airtel—are strong buys for Monday, May 27. They show promising signs of upward movement, making them attractive investment opportunities.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
