Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 10 March 2025

Buy or sell stocks: Driven by short covering and firm global cues, the Indian stock market sustained the selling pressure of Dalal Street Bears as the Nifty 50 index ended above the crucial 22,550 mark. The BSE Sensex sustained above the crucial 74,300 mark and closed at 74,332. The Bank Nifty index ended marginally low at 48,497. The Nifty Small Cap 100 Index outperformed with a 1.32% increase, while the Nifty Midcap Index rose 0.37%. Advancing stocks significantly outnumbered declining ones for the second straight day, with the BSE advance-decline ratio reaching 3:1. Reliance Industries Ltd. was the most significant contributor to the index gain, rising 2.9%. Asian Paints Ltd. recorded the highest percentage increase at 4.8%. Nearly all sectoral indices closed positive, with Oil & Gas, Metal, and Pharma leading the gains. Only Nifty Realty ended in negative territory.

Sumeet Bagadia’s stock market recommendations

Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is cautious as the Nifty 50 index ended close to crucial immediate support at 22,550. The Choice Broking expert said the frontline index faces a hurdle in the 22,550 to 22,600 range, while the 50-stock index has made a new base at 22,150 to 22,200. He said that a bullish or bearish trend can be assumed on the breakage of either side of the range. He advised investors to look at those stocks that look strong regarding the technical chart pattern.

Buy or sell stocks for Monday

Regarding stocks to buy on Monday, Sumeet Bagadia recommended these three buy or sell stocks: Nestle India, UltraTech Cement, and Tata Consultancy Services (TCS).

1] Nestle India: Buy at ₹2238.45, target ₹2450, stop loss ₹2125.

Nestle India share price is trading at ₹2,238.45, consolidating within a range near the demand zone after experiencing a sharp decline from higher levels. The stock has shown signs of recovery, forming a strong bullish candle for the third consecutive day, supported by consistent trading volumes.

A decisive move above ₹2,300 would confirm a breakout from this consolidation phase, potentially paving the way for an upside move toward the higher target of ₹2,450. The Relative Strength Index (RSI) is at 53.75, indicating an uptrend with a positive crossover, signalling strengthening momentum.

Technically, Nestle India share has rebounded from lower levels and surpassed its short-term and medium-term Exponential Moving Averages (EMAs). A sustained move above its long-term EMA would further reinforce the bullish outlook.

Given the strong technical structure, traders can buy Nestle India shares at ₹2,238.45, with a well-defined stop-loss at ₹2,125 to manage risk. As long as the stock holds above key support levels and maintains buying momentum, it remains well-positioned for an upward rally. However, traders should closely monitor price action near resistance levels and volume trends to confirm continued strength.

2] UltraTech Cement: Buy at ₹10582.40, target ₹11650, stop loss ₹10060.

UltraTech Cement share is currently trading at ₹10,582.40. The stock recently witnessed a breakdown from its wide consolidation range but could not sustain at lower levels, attracting buying interest. This price reversal from lower levels has been accompanied by increased trading volumes, signalling renewed strength.

If UltraTech Cement shares hold above ₹10,800, it could confirm a reversal and move higher toward the upside target of ₹11,650. The Relative Strength Index (RSI) is at 40.84, showing a rebound from lower levels and indicating a potential bullish crossover, suggesting improving momentum.

Currently, the stock is trading below its key moving averages. However, a sustainable move above its short-term, medium-term, and long-term Exponential Moving Averages (EMAs) would further reinforce the bullish outlook.

Given the emerging strength, traders can consider buying UltraTech Cement shares at ₹10,582.40, with a well-defined stop-loss at ₹10,060 to manage risk. As long as the stock sustains above support levels and buying momentum continues, it remains well-positioned for an upward rally. Traders should closely monitor price action and volume trends to confirm sustained strength.

3] TCS: Buy at ₹3611.20, target ₹3925, stop loss ₹3450.

TCS share price is currently trading at ₹3,611.20, showing a potential reversal from lower levels after experiencing a sharp decline of nearly 22% from its recent highs. The stock has rebounded from the demand zone, displaying strong bullish momentum for the fifth consecutive session, supported by increasing trading volumes.

A decisive move above ₹3,700 would confirm the reversal, potentially paving the way for an upside move toward the target of ₹3,925. The Relative Strength Index (RSI) is at 37.73, signalling a strong rebound from oversold levels and an emerging uptrend.

TCS share is approaching its key moving averages, and a successful breakout above its immediate short-term Exponential Moving Average (EMA) could drive further upside toward its medium-term and long-term EMAs, reinforcing the bullish outlook.

Given the improving technical structure, traders can consider buying TCS shares at ₹3,611.20, with a well-defined stop-loss at ₹3,450 to manage risk. As long as the stock sustains above key support levels and maintains buying momentum, it remains well-positioned for an upward rally. Traders should closely monitor price action and volume trends to confirm continued strength.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.