Buy or Sell: Sumate Bagadia recommended 3 stocks to buy on Monday – 17 February 2025 | Stock market news

Buy or Sell Stock: Expanding the loss in the eighth consecutive session, the Indian stock market benchmark Nifty ended in Red on Friday, 14 February, a trade war, foreign capital outflow and concerns over weak corporate income.

In these, Nifty 50 has fallen by 3.4 percent Eight sessionsThe index looks oversold so there may be a relief rally. However, the underlying spirit appears weak and experts believe that the index needs to be broken above 23,300 to achieve a positive speed.

Stock Pix of Sumit Bagadia

Sumit Bagadia, Executive Director of Choice Broking, believes that the bias of the Indian stock market is weak as the Nifty 50 index has slipped below 23,000 points.

However, Bagadia highlighted the fact that the frontline index saw a decent pullback after withdrawing 22,800 support for the third time in recent sessions.

“A decisive break above 23,300 would establish positive conviction,” Bagadia said.

Sumit Bagadia recommended three shares to buy on Monday: TCS, Reliance and ICICI Bank.

Buy or Sell Stock for Monday

TCS | Procurement 3,934.85 | target price: 4,100 | Lack closed: 3,800

TCS The stock has been in a consistent dowtrand, which forms a low and low high pattern, indicating the speed of continuous recession.

Recent increase from support levels 3,900 follows a long period of decline, indicating that more buyers can be better if they continue to support stock.

The daily chart of TCS shows a pattern of lower high and lower climbing, indicating that every small rally has faced pressure, which prevents stock from breaking the major resistance levels.

Currently, the stock is trading below its major moving average-20-day, 50-day and 100-day Emas-indicating a recession tendency.

For a potential reversal, the stock needs to be closed above the 20-day EMA, which would be a positive signal.

One step further will confirm the strength above the 50-day EMA. However, if TCS remains below these levels, it can continue to struggle and face resistance to growing higher.

“Recently around low 3,900 is acting as a support level, where some buyers are stepping inside. If TCS comes down from this support, its dowstrand may continue. But if it breaks over resistance in 20-day and 50-day EMAS, it can move towards 4,100, which would be a strong recovery indication, “Bagadia said.

“Overall, the technical structure remains weak, and investors should remain alert until a clear reverse pattern is released. A suggested stop loss can be placed. 3,800 to limit negative risk, while the target is set 4,100 for further agitation, “Bagadia said.

Reliance Industries | Procurement 1,217.25 | target price: 1,300 | Lack closed: 1,175

Dependence The share price is showing early signs of recovery at the bottom for a long time.

Recently bounce from 1,193 support level suggests some procurement interest, but the overall tendency remains weak until it remains above the major resistance levels.

The stock is still trading below its major moving average-20-day, 50-day and 100-day EMAS-stating that the recession speed is intact.

One close to the 20-day EMA ( 1,247) There will be an initial sign of strength, while a step beyond the 50-day EMA ( 1,261) further will confirm a possible tendency.

However, the failure to recreate these levels can result in negative pressure as a result of failure.

“Recently around low 1,190 is acting as a significant support area, where buyers have stepped to prevent further decline. If it comes down from this support, it can resume its recession tendency. Reverse, 20-day and 50-day EMA can push a breakout stock over the EMA 1,260- 1,300 range, indicating a strong recovery, “Bagadia said.

“To manage risk, on a stop-loss 1,175 is recommended, while the next reverse target is set 1,300, align with major resistance near 100-day EMA. Bagadia said that investors should monitor price action and volume closely to reversed any possible tendency.

ICICI Bank | Procurement 1,260.10 | target price: 1,333 | Lack closed: 1,212

ICICI Bank Stock is currently trading around 1,260, recently bounced back with support 1,212, close to its 200-day EMA. This indicates the ability of stock to maintain stability at these levels.

Have a minor resistance 1,265 levels, which closely align with the 50-day EMA. This level can serve as a short -term barrier, and if it decisively fails to break up, price can consolidate or cope with sales pressure.

A success goal over this point and the profit may be triggered 1,333 and potentially high.

The relative power index (RSI) is at 52.41, which suggests moderate power without reaching more conditions. This leaves space for potential speed formation in the stock.

“The trend of ICICI Bank Stock is seen sideways sideways, supported by various technical indicators, to strengthen a positive feeling. To capitalize on potential value withdrawal, it is intelligent to consider buying at the surrounding market price. It can be wise to consider buying at the surrounding market value. 1,260. Applying a stop loss on 1,212 is advised to effectively manage risks, protecting investment against unexpected market changes, “Bagadia said.

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Disclaimer: The above views and recommendations belong to individual analysts, experts and brokerage firms, not mint. We recommend investors to consult certified experts before taking any investment decisions.