# Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 24 August 2026 — retained record
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source: [news](https://highsignal.app/data/news) (news:india-mint-markets) published 2026-08-22 04:54 ingested 2026-08-22 06:37
[original source ↗](https://www.livemint.com/market/stock-market-news/buy-or-sell-sumeet-bagadia-recommends-three-stocks-to-buy-on-monday-24-august-2026-11787369417517.html)
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Buy or sell indicator: The Indian stock market endured a volatile week, caught between rising energy prices, turmoil in global bond markets and persistent geopolitical uncertainty. The Nifty 50 extended its decline through Wednesday, completing a seven-session losing streak—its longest in about 11 months—and shedding roughly 2.1% over that stretch as investors reduced risk exposure amid higher crude prices and rising global borrowing costs.
Relief arrived on Thursday. The Nifty 50 index rebounded 0.64% to close at 24,231.85, snapping the seven-day slide after the US Treasury announced plans to double purchases under its long-dated debt-buyback programme to at least $4 billion per operation. The announcement initially pushed Treasury yields sharply lower and weakened the dollar, improving sentiment toward risk assets and helping Indian equities stage a broad-based recovery.
Sumeet Bagadia, Executive Director at Choice Broking, believes the broader recovery structure of the Indian stock market is intact, as the Nifty 50 index continues to hold above the rising short-term trendline and the 24,000–24,050 support zone.
Speaking on the outlook for the Nifty 50 today, Sumeet Bagadia said, the 50-stock index remains below its 50-day moving average near 24,376, while RSI stands at 49.09, below its average of 54.00, indicating that momentum remains neutral with a slight lack of strength. India VIX rose 4.09% to 11.20, suggesting a modest pickup in volatility.
Bagadia said that on the derivatives front, PCR at 1.08 indicates a relatively balanced-to-positive setup. The highest Put OI concentration, around 24,200–24,000, provides a cushion against declines, while significant Call OI between 24,300–24,500 is likely to act as an overhead hurdle.
“The 24,350–24,400 zone is therefore crucial on the upside, coinciding with the 50-DMA area. A sustained move above this band could strengthen the recovery towards 24,500, whereas failure to hold 24,000 may bring renewed selling pressure. Overall, the index remains range-bound, with a cautious positive bias above the key support zone,” the Choice Broking expert said.
Regarding stocks to buy on Monday, Sumeet Bagadia recommended three buy-or-sell stocks: HDFC Life, BEL, and Nestle India.
HDFC Life stock is consolidating within a well-defined falling wedge, currently trading around ₹554.80, near the upper band of the pattern. The price is hovering near the 50-day EMA at around ₹559.40, which remains an important hurdle for the stock. The broader setup suggests selling pressure has started to ease, although a decisive breakout is still awaited.
The stock continues to maintain a structurally bullish trend, moving within a well-defined ascending channel. After facing resistance near the upper boundary, the stock witnessed a corrective move and is now attempting to establish a base around ₹1,477.10. The lower channel trendline near ₹1,444 remains an important support zone, indicating that the broader bullish structure is still intact.
BEL has shown a positive technical development by breaking slightly above the descending resistance trendline that had been restricting price action since April. This breakout indicates improving buying interest and raises the possibility of a fresh upward move if the stock sustains above the breakout zone.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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