Expert recommends these 3 stocks for Monday, buy or sell, explore here

The Indian stock market concluded higher on Friday for the fourth consecutive day, riding high global market sentiments. The BSE Sensex completed the day up 376 points at 72,426, the Bank Nifty index ended the day up 165 points at 46,384, and the Nifty 50 index went up 129 points to close at 22,040.

Small-cap and mid-cap indices beat the major benchmark indexes in the overall market, while the advance-decline ratio held steady at 1.56:1. Bank, auto, pharmaceutical, PSU, and FMCG companies saw a lot of action.

After holding above the 22,000 mark, Sumeet Bagadia, Executive Director at Choice Broking, thinks the Indian stock market as a whole was able to keep its upward tilt. Sumeet Bagadia gave three stock recommendations on Monday for the upcoming week: Adani Ports, LT, and Dr. Reddy’s Laboratories.

1] Dr. Reddy’s Laboratories: Purchase at ₹6317.15, aim for ₹6780, and halt loss at ₹6145.With significant trading activity, Dr. Reddy’s share is currently trading close to its all-time high of ₹6317.15. Weekly charts show a tendency of making new, higher highs and higher lows. This pattern suggests that the stock is moving quite quickly. DRREDDY may soon hit its goal price of $6,780, therefore now is an excellent opportunity to purchase on dips, particularly around $6,1445.

Moreover, the 20-day, 50-day, and 200-day exponential moving averages (EMAs) are among the important EMAs that DRREDDY is trading above.

2] LT: Purchase at ₹3384, aim for ₹3800, and halt loss at ₹3240.

The price of the LT share is currently showing a significant reversal from the lowest point, trading at ₹3384. A bullish reversal after a correction from the top is indicated by the price action’s formation of a bullish engulfing pattern with significant volume. In the near future, LT might reach its goal price of ₹3800, thus it would be wise to think about buying on dips, especially around ₹3300.

Furthermore, LT is situated above significant Exponential Moving Averages (EMAs), such as the 200- and 100-day EMAs.

3] Adani Ports: Purchase at ₹1310, aim for ₹1520, and halt loss at ₹1260.

The share price of Adani Ports is currently trading close to its all-time high of ₹1309.85, exhibiting a trend of setting new, higher highs and lows together with a healthy trading volume. Strong momentum in the stock is indicated by this pattern. It is preferable to buy Adani Ports shares on dips, especially around ₹1280, as there is a chance that they may reach their target price of ₹1520 in the near future.

Additionally, the 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs) are among the important EMAs that Adani Ports’ share is above.