Stocks to Consider for Monday's Market: Sumeet Bagadia's Latest Recommendations

Indian Stock Market Sees Sharp Sell-Off on Friday

The Nifty 50 index declined 317 points (-1.25%) on Friday, breaching the crucial 25,350 support level and signaling a clear shift in near-term sentiment. Weak global cues and rising geopolitical uncertainty weighed on investor confidence, triggering broad-based profit booking across Auto, FMCG, and Pharma stocks.

Stock Market Outlook

According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market is weak as the Nifty 50 index has closed below the 200-day Exponential Moving Average (EMA). The index has formed its fourth consecutive red candle and closed below the 200-day EMA, indicating a weakening medium-term trend and a shift in the overall market structure toward bearishness.

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Technical Analysis

The daily Relative Strength Index (RSI) stands at 40.65, indicating weak momentum and a bearish bias, though not yet in the oversold zone. Meanwhile, India VIX rose by 4.90% to 13.7, signaling easing market fear and expectations of relatively lower volatility ahead.

Derivatives Segment

Notable put writing was observed at the 25,000 strike, along with aggressive call writing at the 25,400 strike, indicating a well-defined trading range. Traders are advised to remain cautious near key support levels and wait for a decisive breakout above resistance zones before initiating fresh directional positions.

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Stocks to Buy or Sell

Sumeet Bagadia recommended the following three buy-or-sell stocks:

1. Siemens: Buy at ₹3418, Target ₹3600, Stop Loss ₹3270. Siemens' share price is showing a strong bullish continuation after a prolonged consolidation phase on the daily chart.
2. IOC: Buy at ₹187.50, Target ₹197, Stop Loss ₹180.50. IOC's share price is maintaining a strong higher-high higher-low structure on the daily chart, reflecting a steady uptrend.
3. ONGC: Buy at ₹279.70, Target ₹300, Stop Loss ₹270. ONGC's share price is showing a consistent bullish structure with a clear higher-high higher-low formation on the daily timeframe.