Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — February 26

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Buy or sell stocks: After showing an excellent upside recovery from the lows on Thursday, the Indian stock market shifted into a range-bound action for the whole session on Friday and closed in the red territory. The Nifty 50 index went off 4 points and closed at the 22,212 level, the BSE Sensex slipped 15 points and ended at the 73,142 mark while the Bank Nifty index lost 108 points and finished at 46,811 level. After opening on a positive note, the Nifty 50 index was not able to sustain the opening gains and slipped into minor weakness amidst a range movement in the early part and later this sideways movement continued for the whole session.

A new all-time high was formed at 22,297 levels and the 50 stock index closed near the lows. Sumeet Bagadia, Executive Director at Choice Broking believes that the Nifty 50 index went past the crucial 22,000 level decisively in the week gone by. The Choice Broking expert went on to add that overall Indian stock market sentiment is positive.

Bagadia advised a 'buy on dips' strategy till the 50-stock index is above the 21,800 mark. Also Read: Why LIC share price is skyrocketing for last four months? On stocks to buy on Monday, Sumeet Bagadia recommended three shares to buy on Monday — Dr. Reddy's Laboratories, Mahindra & Mahindra (M&M), and Reliance Industries Limited or RIL.

1] Dr Reddy's Laboratories: Buy at ₹6442, target ₹6810, stop loss ₹6210. Dr Reddy share price, currently trading at ₹6442.15 levels, demonstrates a robust technical outlook. The stock has a strong support zone near ₹6210, in close alignment with its 20 Day Exponential Moving Average (DEMA), signifying a solid foundation for potential upward movement.