After a tough few days, the Indian stock market showed signs of recovery on Friday. The Nifty 50 index went up by 104 points, closing at 24,854. The BSE Sensex gained 218 points to end at 81,224, and the Bank Nifty index rose by 805 points, closing at 52,094. The trading volume on the NSE increased by 4.2%, indicating more buying interest, even though the overall market performance was mixed.

Expert Recommendations for Stocks to Buy

Sumeet Bagadia, Executive Director at Choice Broking, believes that Friday’s upward movement could be a temporary relief. He warns that the Nifty 50 still needs to break through the important 25,000 mark to signal a more positive trend. Bagadia suggests focusing on individual stocks during this earnings season.

Here are three stocks he recommends buying on Monday:

  1. ICICI Bank
    • Buy Price: ₹1264.50
    • Target Price: ₹1333
    • Stop Loss: ₹1212
    ICICI Bank is currently trading around ₹1264.50, recovering from a recent dip. It has strong support at ₹1212 and resistance at ₹1280. If it breaks above ₹1280, it may rise toward ₹1333. Investors should consider buying on dips and keep the stop loss at ₹1212.
  2. JSW Steel
    • Buy Price: ₹992.60
    • Target Price: ₹1050
    • Stop Loss: ₹960
    JSW Steel is trading at about ₹992.60, recovering slightly after reaching a low. The stock faces resistance at ₹995, and a breakout could push it toward ₹1050. It has solid support at ₹960. New investors might consider buying near ₹990, with a stop loss at ₹960.
  3. HDFC Life
    • Buy Price: ₹742.45
    • Target Price: ₹790
    • Stop Loss: ₹715
    HDFC Life is trading at ₹742.45, showing strong upward momentum. It needs to break through resistance at ₹760 to target ₹790. Current investors should protect their positions with a stop loss at ₹715. New buyers can consider purchasing at the current price, aiming for ₹790.