Market Overview:Market Overview: Despite mixed global trends, the Indian stock market rallied on Friday, with the Nifty 50 gaining 186 points and the BSE Sensex jumping 622 points. The positive sentiment was driven by strong buying in IT stocks following robust Q1 results from TCS. Sumeet Bagadia’s Recommendations: Sumeet Bagadia, Executive Director at Choice Broking, believes the Nifty 50 index has broken out of its consolidation phase and is targeting 24,800 to 24,900. He recommends buying the following stocks on Monday, July 15: 1. HCL Technologies (HCL Tech) * Buy at: ₹1560 * Target: ₹1680 * Stop Loss: ₹1488 HCL Tech exhibits a bullish trend above its moving averages, indicating a consistent uptrend. The RSI of 75.29 suggests increased buying activity. 2. Dr Reddy’s Laboratories * Buy at: ₹6719.45 * Target: ₹7200 * Stop Loss: ₹6435 Dr Reddy’s Laboratories has a strong technical setup, trading above its moving averages with higher highs and higher lows. Increased trading volumes indicate strong buying interest. 3. Tata Consumer Products * Buy at: ₹1152.25 * Target: ₹1220 * Stop Loss: ₹1115 Tata Consumer has recently closed above its resistance of ₹1150 and is trading above its moving averages. The analysis is invalid if the price closes below ₹1115. Disclaimer: Investment recommendations from experts on Sharepriceindia.com are their own and do not represent the views of the website or its management. Users are advised to consult certified experts before making any investment decisions.
Home » Stock News » Buy or Sell: Sumeet Bagadia’s Hot Picks for Monday – HCL Tech, Dr Reddy’s, and Tata Consumer! 
Despite mixed trends in global markets, the Indian stock market ended higher on Friday. The Nifty 50 index gained 186 points to finish at 24,502, while the BSE Sensex jumped 622 points to close at 80,519. The Bank Nifty index ended slightly higher at 52,278. The rally was mainly driven by strong buying in Indian IT stocks after TCS posted strong Q1 results for 2024.
Stocks to Buy on Monday
Sumeet Bagadia, Executive Director at Choice Broking, suggests that the Nifty 50 index has moved out of its consolidation phase and is now aiming for the next target of 24,800 to 24,900. He believes the Indian stock market’s outlook has turned bullish, thanks to a fresh breakout in the Nifty 50 index on Friday. Bagadia expects the rally in Indian IT stocks to continue on Monday after better-than-expected results from HCL Tech.
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Here are Sumeet Bagadia’s stock recommendations for Monday, July 15:
1. HCL Technologies (HCL Tech)
- Buy at: ₹1560
- Target: ₹1680
- Stop Loss: ₹1488
HCL Tech is currently trading at ₹1560.20 and shows a strong bullish trend. The stock is trading above its 20-day, 50-day, and 200-day moving averages, which indicates a consistent uptrend. The Relative Strength Index (RSI) is at 75.29, suggesting increased buying activity. However, investors should be cautious if the stock falls below ₹1,488, which could negate the positive outlook. Bagadia recommends buying HCL Tech at the current market price (CMP) of ₹1560.20 and adding on dips near ₹1530 with a stop loss of ₹1488 for a target of ₹1680.
2. Dr Reddy’s Laboratories
- Buy at: ₹6719.45
- Target: ₹7200
- Stop Loss: ₹6435
Dr Reddy’s Laboratories is trading at ₹6719.45 and shows a strong technical setup. The stock has been forming higher highs and higher lows on the daily charts, indicating sustained bullish momentum. It has strong support at ₹6435, and is trading above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMA), suggesting a well-supported uptrend. Increased trading volumes also indicate strong buying interest. Bagadia recommends buying Dr Reddy’s Laboratories at the CMP of ₹6719.45 and adding on dips near ₹6570 with a stop loss of ₹6435 for a target of ₹7200.
3. Tata Consumer Products
- Buy at: ₹1152.25
- Target: ₹1220
- Stop Loss: ₹1115
Tata Consumer is trading at ₹1152.25 and shows positive technical signals. The stock has recently closed above its prior resistance of ₹1150. The RSI is at 59.46, indicating a balanced state. The stock is also trading above its 20-day, 50-day, and 200-day EMAs, which is a bullish signal. Bagadia recommends buying Tata Consumer at the CMP of ₹1152.25 with a short to medium-term target of ₹1220. The analysis will be invalid if the price closes below ₹1115.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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