13 May Buy or Sell: 3 Stocks to Watch on Monday by Sumeet Bagadia

Sumeet Bagadia’s Stock Picks: 3 Recommended Stocks

Even in the face of a sluggish Asian stock market due to disappointing US economic data, the Indian stock market emerged triumphant during the weekend session.

The NSE Nifty made an impressive leap of 17 points, closing at a remarkable 18,314. Meanwhile, the BSE Sensex experienced a solid climb of 123 points, settling comfortably at 62,027. The Bank Nifty index also joined the party with a significant gain of 318 points, closing at a promising 43,793.

While the small-cap index saw a minor dip and the mid-cap index experienced a 0.33 percent loss, the overall market outlook remains positive.

According to Sumeet Bagadia, an expert from Choice Broking, the Indian stock market is currently experiencing an uptrend.

Investors are eagerly looking ahead, ready to explore the dynamic Indian stock market and seize potential opportunities for profitable trades.

Bagadia advises investors to adopt a “buy on dips” strategy for short-term gains. This approach involves purchasing stocks when their prices temporarily decline, offering an advantageous entry point. (Source: MINT)
To learn more about such strategies one can enroll for our Stock Market Learning Courses, here .

However, Bagadia also advises positional and short-term investors to stay cautious and keep a close eye on the upcoming Q4 results. These results will play a crucial role in maintaining a well-informed and stock-specific trade and investment strategy. Being aware of the financial performance of individual companies can help investors make informed decisions and navigate the market with confidence.

If you’re wondering which stocks to consider when the market opens after the weekend holidays, Bagadia has you covered. These companies have caught Bagadia’s attention, and he believes they hold great potential for investors seeking profitable opportunities.

He recommends three stocks to buy on Monday based on Technical Analysis:

Also Read: Why This Fundamentally Strong EV Stock is on a Bullish Run in a Bear Market?

Hindustan Unilever Ltd (HUL)

Resistance – Rs 2650

Medium-term Target Price – Rs 2760

Stop Loss – Rs 2500

Hindustan Unilever Ltd, also known as HUL, is displaying an intriguing trading pattern. Currently trading near Rs 2623, the stock is forming a higher high higher low formation on the daily chart. This suggests a positive trend in the stock’s price movement.

Additionally, the Relative Strength Index (RSI) indicator is indicating strength, with the current trading range at 68.48 levels.

Furthermore, HUL is trading above all of the key moving averages, signaling a bullish sentiment. On the weekly chart, the Bollinger band is expanding, indicating potential volatility. Moreover, the price of HUL is trading above the center line of the band, which further emphasizes the stock’s strength.

These technical indicators provide valuable insights for traders and investors, suggesting that HUL may continue to experience positive momentum in the near term.

According to Sumeet Bagadia’s analysis, Hindustan Unilever Ltd (HUL) faces a minor resistance near Rs 2650 levels. If the stock manages to surpass this level, it has the potential to move towards Rs 2760 levels and beyond. Bagadia suggests a medium-term target price of Rs 2760 and advises purchasing HINDUNILVR at the current market price (CMP) of Rs 2620.

Additionally, Bagadia suggests that investors can accumulate the stock near the Rs 2570 level. However, it is important to note that if the price of HUL closes below Rs 2500, the analysis provided would be considered invalid, as per Bagadia’s statement.

Company Overview: Hindustan Unilever Ltd (HUL)

Introduction:

-Hindustan Unilever Ltd (HUL) is one of India’s largest consumer goods companies.
-It is a subsidiary of the multinational conglomerate, Unilever, and has a rich heritage spanning over 80 years in India.

-HUL operates in various sectors, including
-home care,
-personal care,
-beauty,
-foods, and
-refreshments.

Product Portfolio:

-HUL boasts an extensive range of well-known and trusted brands in its product portfolio.

-It offers a diverse range of products, including soaps, detergents, skincare products, hair care products, beverages, packaged foods, and more.

-Some of its popular brands include Lifebuoy, Lux, Dove, Surf Excel, Rin, Sunsilk, Pepsodent, Knorr, Brooke Bond, and Lipton, among many others.

Market Presence:

-HUL holds a significant market presence in India and has a strong distribution network that reaches millions of consumers across the country.

Its products are available in various retail channels, including
-modern trade,
-general stores,
-e-commerce platforms, and more.

The company has been successful in establishing a deep connection with Indian consumers through its wide-ranging product offerings.

Polycab

Medium-term Target Price – Rs 3620

Stop Loss – Rs 3200

One noteworthy aspect is the substantial volumes supporting the breakout, making Polycab an attractive choice for investors. A weekly closing at all-time high levels further confirms the stock’s strength. On the weekly chart, the Bollinger band continues to expand, indicating potential volatility. The stock is trading near the upper line of the band, suggesting further upward movement. A break above the higher line of the band would further bolster the stock’s upward trajectory.

Based on this analysis, Sumeet Bagadia recommends purchasing Polycab shares at the current market price of Rs 3389. He sets a medium-term target of Rs 3620 for the stock. Additionally, Bagadia suggests accumulating the stock near ₹3320 levels. It is important to note that if the price closes below Rs 3200, the analysis provided by Bagadia would be considered invalid.

These insights from Sumeet Bagadia provide valuable information for investors interested in Polycab, highlighting potential entry points, target levels, and the importance of monitoring support and invalidation conditions.

Company Overview: Polycab

Introduction:

-Polycab is a leading player in the electrical cables and wires industry in India.

-The company was established in 1968 and has grown to become one of the largest manufacturers of cables and wires in the country.

Product Portfolio:

The company’s product offerings include

-cables for domestic and industrial wiring,
-specialized cables for industries like power, oil and gas, telecom, and automotive
-flexible cables and wires for appliances and equipment.

Market Presence:

Polycab has a strong market presence in India and serves a wide range of industries, including

-construction,
-infrastructure,
-power generation,
-telecommunications, and more.

The company’s products are distributed through an extensive network of dealers, distributors, and retailers, ensuring a wide reach across the country.

Quality and Innovation:

Polycab is known for its commitment to quality and reliability.

The focus on innovation is evident in Polycab’s continuous efforts to develop technologically advanced products that meet the evolving needs of customers.

One notable example is the development of fire-resistant cables. Polycab has invested in research and development to create cables that are designed to withstand and prevent the spread of fire, ensuring the safety of electrical installations.

Cipla

Medium-term Target Price – Rs 980- 1005

Stop Loss – Rs 900

Cipla, a renowned pharmaceutical company, is currently experiencing a promising trend in its share price. Trading at Rs 937, the stock demonstrates a consistent upward movement within a positive rising channel. This bullish pattern is further strengthened by the stock’s position above its short-term moving averages of 20 and 50, indicating favorable short-term momentum.

The Relative Strength Index (RSI) of Cipla stands at 61 and is showing an upward trend, reflecting increasing buying pressure and positive investor sentiment.

Notably, Cipla has recently surpassed a significant trendline resistance that had been acting as a strong supply zone since the previous year’s October. This breakout is a strong indication of a potential upward surge in the stock’s price.

These insights provide valuable information for investors considering Cipla, emphasizing the favorable trend, technical indicators, and target range to watch for potential gains.

Company Overview: Cipla

Introduction:

-Cipla is a leading global pharmaceutical company based in India.
-Founded in 1935, Cipla has a rich history of over 85 years in the pharmaceutical industry.
-The company is committed to providing affordable and accessible healthcare solutions to patients worldwide.

Diverse Product Portfolio:

-Cipla offers a wide range of pharmaceutical products across various therapeutic segments.

-The company focuses on developing and manufacturing innovative and generic medicines, including prescription drugs, over-the-counter medications, and specialty products.

-Cipla’s product portfolio covers areas such as

-respiratory, anti-infectives, cardiovascular, central nervous system, oncology, and more.

Global Presence:

-Cipla has a strong presence in both domestic and international markets.

-The company exports its products to more than 150 countries and has a significant presence in emerging markets.
Cipla’s global footprint and partnerships enable it to address the healthcare needs of diverse populations worldwide.

Research and Development:

-The company’s R&D efforts focus on developing novel drug formulations, biosimilars, and complex generics.

-Cipla’s commitment to R&D helps it stay at the forefront of technological advancements in the pharmaceutical industry.

For instance,

The company has invested in the development of inhalation products for respiratory diseases.

Cipla’s R&D team has successfully developed a novel inhaler device that improves the delivery of medication to patients with conditions like asthma and chronic obstructive pulmonary disease (COPD). This innovative inhaler technology enhances the efficacy and convenience of treatment for patients, providing them with a better quality of life.

Quality and Compliance:

-Cipla maintains strict quality standards and complies with regulatory requirements in all aspects of its operations.

-The company’s manufacturing facilities adhere to Good Manufacturing Practices (GMP) to ensure the production of safe and effective medications.

-Cipla’s commitment to quality has earned it several certifications and accolades for its manufacturing practices and quality control systems.

Before making any investment decisions, it is important to note that investing in the stock market involves risks and uncertainties. The information provided should not be considered as financial advice or a guarantee of future returns.

Investors are advised to conduct their own research, analysis, and due diligence before investing in any stocks or financial instruments. It is crucial to consider one’s financial goals, and risk tolerance, and consult with a qualified financial advisor or professional before making any investment decisions.

——————-
This electric vehicle EV stock is on the rise to reach an all-time high (ATH) in the current falling market. Here is the reason why…Read More

“Why This Fundamentally Strong EV Stock is on a Bullish Run in a Bear Market?”

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies are their own and not that of the website or its management. Aceink.com advises users to check with certified experts before taking any investment decisions.