Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 24 March 2025 | Stock Market News

Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 24 March 2025. These include Adani Ports and Special Economic Zone Ltd. Larsen & Toubro Ltd and Tata Motors

1.Adani Ports and Special Economic Zone Ltd

Bagadia recommends buying Adani Ports at ₹1188.8 keeping Stoploss at ₹1140 for a target price of ₹1270

Adani Ports stock is currently trading around ₹1188.8, has been witnessing a recovery after an extended consolidation phase. The stock has surged steadily over the past few weeks.

The price action indicates a sustained bullish momentum, with the stock moving closer to its 200-day EMA resistance at ₹1,226.16. The 20-day and 50-day EMA have acted as solid support levels, helping the stock sustain its upward trajectory. The 100-day EMA at ₹1,184.58 has now been breached, confirming a potential trend reversal, it could lead to a new upward trend, pushing the stock towards ₹1270 and higher.

The stock has witnessed consistent trading volume, but it needs to break above the resistance level on stronger volume to confirm a sustainable uptrend. If the price holds above the Volume Weighted Average Price (VWAP) of approximately ₹1180, a recovery can be anticipated in the coming sessions.

ADANIPORTS is showing signs of recovery in the short term, especially if it can break above the ₹1200 level. Investors can look for buying opportunities on dips while keeping an eye on Stop-Loss at 1140 and target of 1270 levels for further movement.

2. Larsen & Toubro Ltd

Bagadia recommends buying Larsen & Toubro (L&T) at ₹3415.95, keeping Stoploss at ₹3280 TGT for a target price of ₹3635

L&T is currently trading at 3415.95 levels, indicates a sharp reversal from recent lows, driven by renewed buying momentum and robust volumes. The stock’s positive momentum is further confirmed by its positioning above the short-term (20 Day), medium-term (50 Day) EMA levels.

However, today’s up move of 65 point plus on closing hrs. and made high of 3455. This movement suggests sustained buying interest, with the stock potentially entering an sideways to Bullish. The stock’s higher high and higher low formation further emphasizes the underlying bullish trend. A significant breakthrough above the resistance at 3450, supported by robust volumes, underscores the stock’s strength which also marks its recent swing high of 3630. A breakout above this crucial resistance could set the stage for a rally towards the target of ₹3635 in the short term. Traders and investors who entered at lower levels are advised to safeguard their positions by trailing stop losses near 3333, aiming for the target of 3635 and beyond.

The momentum indicator, Relative Strength Index (RSI), is currently at 63.33 levels, indicating positive momentum in the stock. For those considering fresh investments, purchasing at the current market price (CMP) is a viable option, targeting 3635, with a stringent stop loss set at 3280 levels to manage risk effectively.

3.Tata Motors Ltd

Bagadia recommends buying Tata Motors at ₹702.95 keeping Stoploss at ₹675 for a target price of ₹750

Tata Motors stock is currently trading around ₹702.95, showing some significant recovery after recent downward movement. The stock has been on a strong upward trajectory, rebounding sharply from its recent lows.

The stock has crossed the 20-day and 50-day EMA, signalling bullish momentum. The next key resistance lies at the 100 EMA at ₹749.A decisive breakout above these levels could confirm a trend reversal and open doors for further upside toward the ₹800 – ₹850 zone.

The stock has witnessed consistent trading volume, but it needs to break above the resistance level on stronger volume to confirm a sustainable uptrend. If the price holds above the Volume Weighted Average Price (VWAP) of approximately ₹695, a recovery can be anticipated in the coming sessions.

TATAMOTORS is showing signs of recovery in the short term, especially if it can break above the ₹710 level. Investors can look for buying opportunities on dips while keeping an eye on Stop-Loss at 675 and target of 750 levels for further movement.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.