After three straight losing sessions, the Indian stock market saw some recovery on Friday. The Nifty 50 closed 104 points higher at 24,854, while the Sensex gained 218 points, ending at 81,224. Bank Nifty rose 805 points, closing at 52,094. Despite this rebound, the broader market indices underperformed.
Sumeet Bagadia, Executive Director at Choice Broking, recommends focusing on select stocks as the market still shows a negative trend. He suggests three stocks to buy on Monday:
ICICI Bank:
- Buy Price: ₹1264.50
- Target: ₹1333
- Stop Loss: ₹1212
ICICI Bank is consolidating, with resistance at ₹1280 and support at ₹1212. A breakout above ₹1280 could signal an upward move towards ₹1333.
JSW Steel:
- Buy Price: ₹992.60
- Target: ₹1050
- Stop Loss: ₹960
JSW Steel is consolidating between ₹960 and ₹995. A breakout above ₹1000 could drive the stock toward a target of ₹1050.
HDFC Life:
- Buy Price: ₹742.45
- Target: ₹790
- Stop Loss: ₹715
HDFC Life is in an uptrend, with resistance at ₹760. A breakout could push the stock towards ₹790.
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.
