Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — Feb 19

livemint.com:

Buy or sell stocks: Following strong global market sentiments, the Indian stock market ended higher for the fourth day in a row on Friday. The Nifty 50 index shot up 129 points and finished at 22,040 level, the BSE Sensex surged 376 points and closed at 72,426 mark while the Bank Nifty index ended 165 points up at 46,384 level. In the broad market, both small-cap and mid-cap indices outperformed the key benchmark indices even as the advance-decline ratio remained firm at 1.56:1.

Large activity was seen in bank, auto, pharma, PSU, and FMCG stocks. Sumeet Bagadia, Executive Director at Choice Broking believes that overall Indian stock market managed to maintain its positive bias after sustaining above the 22,000 level. The Choice Broking expert said that Nifty today has crucial support placed at the 21,800 mark and the 50-stock index is now looking ahead to touch 22,400 and 22,800 levels in the short-term time horizon.

Also Read: Gold price dips for second straight week on higher US Fed rate buzz On stocks to buy next week, Sumeet Bagadia recommended three stocks to buy on Monday — Dr. Reddy's Laboratories, LT, and Adani Ports. Here we list out full details regarding Sumeet Bagadia's stock picks: 1] Dr. Reddy's Laboratories: Buy at ₹6317.15, target ₹6780, stop loss ₹6145.

Dr Reddy's share is currently trading near its all-time high at ₹6317.15, exhibiting a pattern of making fresh higher highs and higher lows on weekly charts, accompanied by substantial trading activity. This pattern indicates that the stock has tremendous momentum. DRREDDY could reach a target price of ₹6780 soon, making it a good time to buy on dips, especially around ₹6145.