Sumeet Bagadia’s Top 3 Stock Picks for Monday: Bharti Airtel, Nestle, Adani Ports After Nifty 50 Hits Record High

The Indian stock market closed at a record high last Friday, thanks to gains in the US and Asian markets. The Nifty 50 index rose by 375 points to reach 25,790, while the BSE Sensex jumped 1,359 points, ending at 84,544. The Bank Nifty also increased by 755 points to close at 53,793. Trading volumes on the NSE were 43% higher than the previous day, driven by FTSE rebalancing volumes. The overall market saw more stocks rising than falling, with a sharp advance-decline ratio of 2.08:1.

Sumeet Bagadia’s Stock Picks

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market has turned bullish after Friday’s gains. He noted that if the Nifty 50 stays above 25,800 for a few hours on Monday, the index could aim for new targets between 26,300 and 26,500.

For Monday, Bagadia recommended buying the following three stocks:

1. Bharti Airtel

• Buy at: ₹1711.75
• Target: ₹1855
• Stop loss: ₹1640

Bharti Airtel’s stock is in a long-term uptrend, consistently forming higher highs and lows on the daily chart. It recently formed a strong bullish candle, supported by high trading volumes, which suggests the stock is likely to continue its upward trend. The Relative Strength Index (RSI) is at 78.47, indicating strong buying momentum. The stock is also trading above all key moving averages, reinforcing the positive outlook.

2. Nestle India

• Buy around: ₹2700
• Target: ₹2930
• Stop loss: ₹2590

Nestle India recently broke out of a consolidation phase, supported by strong buying interest. The stock is trading at ₹2699.55 and could reach the ₹2930 mark if it stays above ₹2705. The RSI stands at 78.14, indicating strong upward momentum. It is also trading above key moving averages, making it a solid buy on dips near ₹2650, with a stop loss at ₹2590.

3. Adani Ports

• Buy at: ₹1438.70
• Target: ₹1560
• Stop loss: ₹1385

Adani Ports has pulled back from higher levels but found support near ₹1395. With increased trading volumes, the stock shows signs of recovery and could rise to ₹1560 if it stays above ₹1460. The RSI is at 44.99, signaling a neutral zone where buyers could step in. Adani Ports is trading near its key moving averages, and if it holds above them, it could continue its upward movement.

Bagadia recommends buying all three stocks as they present strong technical setups with favorable risk-reward ratios for potential gains.