3 Stocks to Buy on Monday: Sumeet Bagadia Recommends HDFC Life, BEL and Nestle India
Indian equities are entering Monday’s session with investors still cautious after a volatile week marked by elevated crude oil prices, global bond-market concerns and geopolitical uncertainty. Against this backdrop, Sumeet Bagadia, Executive Director at Choice Broking, has recommended three stocks for Monday, August 24, 2026: HDFC Life, Bharat Electronics (BEL) and Nestle India.
Bagadia’s recommendations are based primarily on technical analysis rather than a long-term fundamental valuation call. His view also comes with specific entry levels, targets and stop-loss levels, making these setups more relevant to traders and short-term market participants.
Market Outlook Before Monday's Trading Session
The Nifty 50 had recently gone through a seven-session losing streak before rebounding 0.64% to close at 24,231.85. According to Bagadia, the broader recovery structure remained intact as long as the index held the 24,000–24,050 support zone.
However, the index was still below its 50-day moving average around 24,376, while the RSI indicated relatively neutral momentum. Bagadia identified 24,350–24,400 as an important resistance area. A sustained move above that zone could open the way toward 24,500, while a break below 24,000 could bring selling pressure back into the market.
That makes the broader market trend particularly important for the three individual stock recommendations.
1. HDFC Life: Buy at ₹560, Target ₹586
HDFC Life Insurance Company is the first stock on Bagadia's Monday watchlist.
According to his technical setup, HDFC Life has been consolidating inside a falling-wedge pattern. The stock was trading around ₹554.80 and approaching the upper boundary of that pattern, while the 50-day EMA was around ₹559.40.
A falling wedge is a chart pattern in which price moves lower between two converging trendlines. Traders often watch for a breakout from the upper trendline because it can indicate that selling pressure is weakening.
Bagadia's recommendation is:
- Buy: ₹560
- Target: ₹586
- Stop Loss: ₹530
The important point is that the technical setup has not yet confirmed a decisive breakout. Therefore, traders should watch whether the stock can sustain levels above the relevant resistance rather than treating the target as a guaranteed outcome.
From the recommended entry to the target, the potential upside is roughly 4.6%, while the suggested stop loss represents a downside of roughly 5.4% from ₹560.
2. Nestle India: Buy at ₹1,477, Target ₹1,555
The second recommendation is Nestle India, one of India's largest consumer-goods companies.
Bagadia sees the stock maintaining a structurally bullish technical trend. The stock has been moving inside an ascending channel, although it recently faced resistance near the upper boundary and underwent a corrective move.
The stock was attempting to build a base around ₹1,477.10, while the lower channel trendline near ₹1,444 was identified as an important support area.
Bagadia's levels are:
- Buy: ₹1,477
- Target: ₹1,555
- Stop Loss: ₹1,420
The target implies a potential gain of approximately 5.3% from the recommended entry price, while the stop-loss level is about 3.9% below the entry.
For traders, the key factor will be whether Nestle India continues to respect the support structure and resumes its upward movement. A failure of the broader bullish pattern could weaken the setup.
3. BEL: Buy at ₹414, Target ₹444
The third stock recommended by Bagadia is Bharat Electronics Ltd (BEL).
BEL has attracted technical attention after breaking slightly above a descending resistance trendline that had been limiting its movement since April. According to Bagadia, the breakout indicates improving buying interest and could support another upward move if the stock manages to remain above the breakout zone.
His recommended levels are:
- Buy: ₹414
- Target: ₹444
- Stop Loss: ₹399
The target represents potential upside of about 7.2% from the recommended entry price, while the stop loss is roughly 3.6% lower.
The crucial word here is sustain. A technical breakout can sometimes turn into a false breakout if the price quickly falls back below the resistance level. Therefore, price and volume behaviour around the breakout zone will be important for short-term traders.
Why These Three Stocks Are Different
Bagadia's three picks cover three different technical setups.
HDFC Life is attempting to emerge from a falling-wedge consolidation. Nestle India is trying to regain momentum within an ascending channel. BEL, meanwhile, is showing signs of a potential trendline breakout.
This distinction matters because investors should not assume that all three recommendations have the same risk profile simply because they come from the same analyst.
Technical recommendations are generally based on expected price behaviour over a particular timeframe. They can fail if market conditions change, especially when the broader index is trading near important support and resistance levels.
What Could Influence These Picks on Monday?
The broader market could play a major role.
Bagadia's Nifty analysis suggests that 24,000–24,050 remains an important downside support area, while 24,350–24,400 is a key resistance zone. If the Nifty manages to break higher, risk appetite could improve across individual stocks. Conversely, renewed weakness below major support could put pressure even on technically strong setups.
Investors should also watch crude oil prices, global bond yields, geopolitical developments and movements in the US market. These external factors can quickly change sentiment in Indian equities.
For individual stocks, the most important things to monitor are whether the recommended entry levels hold, whether the breakout/consolidation patterns remain intact and whether trading volume confirms the price movement.
Should Investors Buy These Stocks?
Bagadia's recommendations should be viewed as technical trading ideas, not guaranteed investment calls.
A target price is an analyst's expected level based on a particular market setup. It does not mean the stock must reach that price. Similarly, a stop loss is designed to limit potential damage if the technical thesis fails.
For long-term investors, technical levels alone are not enough. Business growth, earnings, valuation, cash flows, competitive position and sector outlook should also be considered.
For short-term traders, however, the defined entry, target and stop-loss levels provide a framework for managing risk rather than trading purely on market excitement.
The Bottom Line
For Monday, August 24, Sumeet Bagadia has highlighted HDFC Life, Nestle India and BEL as three stocks to buy, with recommended entry prices of ₹560, ₹1,477 and ₹414 respectively. His targets are ₹586 for HDFC Life, ₹1,555 for Nestle India and ₹444 for BEL.
The setups are based on technical patterns, including a falling wedge, an ascending channel and a resistance breakout. The broader Nifty trend will remain an important factor, particularly around the 24,000 support and 24,350–24,400 resistance zones.
The key takeaway for investors is simple: these are analyst recommendations, not assured returns. Traders should use proper position sizing and respect the stated risk levels, while long-term investors should conduct their own fundamental analysis before taking any position.
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This article is for informational and educational purposes only and should not be considered investment advice
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