Sumeet Bagadia recommends three stocks to buy on Monday, April 8: BHEL, Bajaj Finserv, and more

The Indian stock markets have been on a positive trajectory, supported by strong macroeconomic data and anticipation of satisfactory Q4 results for 2024. The recent record GST collection and the upcoming earnings reports have fueled optimism among investors.

The Reserve Bank of India’s decision to keep key rates unchanged further bolstered the growth outlook for FY25. However, the market is bracing for volatility in the coming weeks, with all eyes on the US Fed rate cut developments scheduled for April 30th to May 1st, 2024.

According to Sumeet Bagadia, Executive Director at Choice Broking, the Nifty 50 index is in a crucial range, with potential for a bullish or bearish trend depending on breakout levels. Bagadia also highlighted the outperformance of the Bank Nifty index, suggesting a bullish trend if it breaches the previous peak zone.

For short-term investors, Bagadia recommended three stocks to consider: Bajaj Finserv, IndusInd Bank, and BHEL. Each stock comes with a buy recommendation, target price, and stop-loss level to manage risk effectively.

Technical analysis of Bajaj Finserv, IndusInd Bank, and BHEL indicates positive momentum and potential for upward movement in the near term. Investors are advised to consider these recommendations alongside prudent risk management strategies.

It is important to note that the views and recommendations provided are those of individual analysts and experts, and investors are encouraged to seek advice from certified professionals before making any investment decisions.