As the new trading week approaches, investors are searching for promising opportunities to boost their portfolios. Renowned market expert Sumeet Bagadia, Executive Director at Choice Broking, has identified three stocks that show strong technical patterns and growth potential for Monday's trading session.
Expert Insights for Monday's Market
With markets showing mixed signals, having expert guidance can make all the difference. Bagadia's recommendations come after thorough technical analysis, focusing on stocks demonstrating strong momentum and breakout potential.
1. Hindustan Aeronautics Limited (HAL)
Current Position: Trading around ₹5,685 per share
Technical Outlook: The stock shows a robust upward trend with consistent higher highs and higher lows. The momentum indicators suggest sustained buying interest.
Strategy: Bagadia recommends buying at current levels or on minor dips towards ₹5,650
Targets: ₹6,000 (immediate), ₹6,200 (medium-term)
Stop Loss: ₹5,450 to manage risk effectively
2. JSW Energy Limited
Current Position: Trading near ₹765 levels
Technical Pattern: The stock has formed a strong base around ₹750-760 levels and shows signs of breaking out from this consolidation phase.
Strategy: Ideal entry between ₹760-770 range
Targets: ₹815 (short-term), ₹840 (extended)
Stop Loss: ₹735 for risk management
3. Container Corporation of India (CONCOR)
Current Position: Trading at approximately ₹1,215
Technical Setup: CONCOR displays a classic breakout pattern from its recent trading range, indicating potential for significant upward movement.
Strategy: Buy around current levels with accumulation on dips to ₹1,200
Targets: ₹1,280 (initial), ₹1,320 (secondary)
Stop Loss: ₹1,170 to protect capital
Why These Stocks Stand Out
Bagadia emphasizes that these selections combine strong technical positioning with fundamental strengths. HAL benefits from defense sector tailwinds, JSW Energy capitalizes on India's growing power demands, while CONCOR stands to gain from improving logistics and export-import activities.
"The technical charts for these stocks indicate clear breakout patterns with defined support levels," notes Bagadia. "Traders should implement strict stop losses and consider partial profit booking at initial targets."
Market Context and Risk Factors
While these recommendations show strong potential, investors should consider broader market conditions and global cues. The current market environment requires careful position sizing and disciplined risk management.
Bagadia's analysis suggests that these stocks have the technical strength to outperform in the coming week, but as with all equity investments, there are no guarantees. Proper due diligence and portfolio diversification remain crucial.
