Buy or sell stocks: Indian equity benchmarks, Sensex and Nifty 50, closed the week higher on Friday following the reopening of the US government, improved domestic earnings and a favourable Bihar election outcome.
The Nifty 50 inched up 0.12% to 25,910.05, while the BSE Sensex rose 0.1% to 84,562.78. Both indices advanced roughly 1.6% over the week.
The broader market sentiment also remained buoyant, as small-cap and mid-cap indices rose about 1% and 1.5%, respectively.
Stock market outlook
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index is sustaining above 25,750.
“On the upper side, the 50-stock index is facing a hurdle at 26,100. So, a bullish or a bearish trend can be assumed in the breakage of either side of this range,” Bagadia said.
So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart, he advised.
Sumeet Bagadia’s stock recommendations for Monday
Regarding stocks to buy on Monday, Sumeet Bagadia recommended three buy-or-sell stocks: BEL, SBI and Eternal.
BEL | Buy in Cash at ₹426.85 | Target at ₹460 | Stop loss at ₹410
BEL is currently trading near ₹426.85 and is displaying a bullish technical structure on the daily chart. The stock recently witnessed a wide-range trendline breakout, followed by a successful retest, which has strengthened its upside momentum and reaffirmed buyer conviction. Additionally, BEL is showing signs of healthy accumulation around the previous breakout zone, which aligns well with the 50-day EMA, highlighting this area as a strong support zone where demand remains active.
The stock is trading comfortably above the key 20, 50, and 200 EMAs, reinforcing a rising trend structure supported by consistent buying at every corrective swing. The formation of a higher-high and higher-low pattern from recent bottom levels further indicates sustained strength in the broader trend. On the upside, a break and sustained move above 430 may unlock further bullish momentum, opening the path toward higher targets. On the downside, immediate support lies near the 50-day EMA around 410, and a breach below this could signal deeper weakness.
Momentum remains supportive, with RSI at 60.15, indicating room for continued upward movement. Traders may consider entering at current levels with a strict stop-loss at 410 for an upside target of 460, while ensuring disciplined risk management.
SBI | Buy in cash at ₹967 | Target at ₹1040 | Stop loss at 934
SBIN is exhibiting strong bullish momentum after a steady upward move over the past several weeks, currently trading near 967, reflecting sustained buying interest and positive sentiment across the banking space. The price action shows a clear pattern of higher highs and higher lows, indicating continuation of its broader uptrend.
On the technical front, SBIN is trading well above its 20-day, 50-day, 100-day, and 200-day EMAs, showcasing a robust and well-established bullish structure. The shorter-term EMAs are positioned above the longer-term ones, further strengthening the positive bias and confirming that the momentum remains firmly in favour of the bulls.
The stock recently approached its new swing high zone around 970+, and a decisive close above this region could open the gates for the next leg of the rally. Volume behaviour also supports this outlook, with rising volumes during upward price moves — a clear sign of healthy accumulation and institutional participation.
On the downside, immediate support is placed near the 934 zone, which aligns closely with the 20-day EMA, making it a logical and effective stop-loss region for short-term positional traders. A sustained close below this level may temporarily pause the ongoing uptrend.
However, as long as SBIN maintains levels above 950–955, the stock remains poised to extend its upward momentum, with the next potential target around 1040, marking the upper stretch of its current breakout trajectory.
Eternal | Buy in cash at ₹304 | Target at ₹324 | Stop loss at ₹292
ETERNAL has shown signs of stabilisation after a corrective phase, currently trading near 303–304, indicating a mild recovery attempt as buyers begin to re-emerge near key support zones. After witnessing a pullback from the recent highs around 360–368, the stock has now approached a crucial demand area, where price action suggests early signs of a potential short-term reversal.
From a technical standpoint, ETERNAL is currently hovering around its 100-day EMA, while the 20-day and 50-day EMAs slope downward due to the recent correction. However, the stock has managed to hold above the 200-day EMA, which remains upward-sloping — signalling that the broader trend structure is still intact despite short-term weakness. This zone often acts as a strong platform for fresh buying interest, and the price reaction around it supports this observation.
The recent uptick in price, coupled with supportive volume activity, suggests that accumulation may be taking place around the lower levels as the stock attempts to reclaim the shorter moving averages. A decisive move above ₹310–315 could confirm renewed momentum and open the path for a short-term upswing.
On the downside, immediate support lies near 292–295, which aligns closely with the lower support structure and serves as a prudent stop-loss level for near-term traders. A sustained close below this zone may extend the corrective phase.
However, if ETERNAL continues to hold above 300, the stock is well-positioned to resume its upward trajectory, with a near-term target of 325, which corresponds to the next resistance band and the midpoint of its prior consolidation range.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
