Buy/Sell: Sumeet Bagadia recommends 3 stocks to buy on Monday (March 11)

Buy and sell stocks: Despite strong sentiment in global markets regarding a possible rate cut by the US Federal Reserve (Fed), the Indian hosiery market remained range bound again last Thursday. The Nifty 50 index rose 19 points to end at 22,493 levels, the BSE Sensex rose 33 points to end at 74,119 levels, while the Bank Nifty index fell 129 points to end at 47,865 levels. However, buying movements were seen across the market, with the small-cap index rising 0.70% and the mid-cap index rising 0.39%.

Sumeet Bagadia, executive director, Choice Broking, believes that the Nifty 50 index has touched a new high of 22,525 despite high volatility in Dalal Street. Choice Broking experts further added that strong buying in Tata Group stocks helped 50 stocks rise to new highs in the final trade of the truncated week. Regarding stocks to buy on Monday, Sumeet Bagadia recommended three stocks to buy or sell on Monday: Chambal Fertilizers, BEL and Hindustan Unilever Limited (HUL).

stocks to buy next week

Here, Choice Broking’s Sumeet Bagadia lists three stocks to buy and sell on Monday.

1]Chambal fertilizer: buy at INR372.75, target INR400, stop loss INR350.

Chambal Fertilizers stock price, current trading price INR372.75 level, proving his remarkable technical ability.Stock price rebounds from key support level, then breaks through initial resistance INR360 is in line with the 20-day and 50-day exponential moving averages (EMAs), indicating positive momentum. Notably, Chambal Fertilizers’ stock is trading above all important moving averages, confirming the company’s solid technical position. The Relative Strength Index (RSI), a momentum indicator, sits at 58.30, further lending credibility to the stock’s strength.

In the short term, moderate resistance levels are observed in the surroundings. INR384. Continued violations above this level are expected to drive the stock price towards the target. INROver 400. This comprehensive analysis highlights favorable technical settings for Chambal Fertilizers stock, highlighting support levels, moving averages, and momentum indicators for informed decisions by investors and traders. .

Based on the above technical analysis, we recommend buying Chambal Fertilizers stock at CMP. INR372.75, can also be added with dip. INRAiming for 360 degrees INR400, with stop loss INR350.

2]Bell: buy at INR215.40, target INR234, stop loss INR205.

BEL stock is currently trading at an all-time high INR215.40 has recently broken out of that range by forming new highs and lows, indicating a strong uptrend. The current price shows solid bullish momentum and is expected to continue rising. INR234 levels. On the flip side, there is plenty of support nearby. INR205.6.

Additionally, BEL stock is trading above major exponential moving averages (EMAs) such as the 20-day, 50-day, 100-day, and 200-day EMAs, indicating solid bullish momentum and potential for further price appreciation. It suggests sex. The Relative Strength Index (RSI) is currently at 77.8, indicating an upward trajectory and increasing buying momentum.

Additionally, the Stochastic Relative Strength Index (Stoch RSI) shows a positive crossover. Taken together, these technical indicators suggest that BEL stock price may reach its target price. INR234 in the short term. A smart strategy is to consider buying the push at the next level. INR210.

Overall, considering the technical analysis and current market conditions, BEL stock is INR234 Price targets only if prudent risk management measures are taken.

3]Hull: buy at INR2419.55, target INR2575, stop loss INR2350.

HUL stock price is currently INR2419.55 level, indicating resilient technical dynamics. The stock has recently rebounded from important support. INRThe 2350 was a pivotal development. The stock is showing positive momentum after breaking above the first resistance level at 2410 near the 20-day Exponential Moving Average (EMA).

Despite receiving small resistance from those around me, INR2345 is in line with the 50-day EMA, and a break above this level is expected to push the stock towards its target. INR2575 levels. This forward-looking analysis considers the positive signals conveyed by the stock’s support levels, moving averages, and underlying strength indicator, the Relative Strength Index (RSI), which is currently trading at 49.32.

Investors and traders should keep a watchful eye on stocks for potential opportunities, taking into account identified support and resistance levels and momentum indicators to make informed decisions in dynamic market scenarios. There may be benefits to monitoring.

Based on the above technical analysis, we recommend to buy HUL stock at CMP. INR2419.55, can also be added with dip INR2390 for target INR2575, stop loss is INR2350.

Disclaimer: The opinions and recommendations expressed above are those of individual analysts, experts, and brokerage firms and not of Mint. We recommend checking with a certified professional before making any investment decisions.