Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday - 13 July 2026

Buy or sell stocks: The Indian stock market ended sharply higher on Friday, July 10, with benchmark indices Sensex and Nifty 50 rallying over 1% each, while the broader markets outperformed on the back of positive global cues, encouraging June quarter earnings and easing crude oil prices.

The Sensex extended its gains for a second straight session, climbing 828 points, or 1.08%, to close at 77,569.39. The Nifty 50 advanced 244 points, or 1.02%, to settle at 24,206.90. The rally added nearly ₹6 lakh crore to investor wealth, with the cumulative market capitalisation of BSE-listed companies rising to almost ₹482 lakh crore from ₹476 lakh crore in the previous session.

Over the past two trading sessions, the 30-share Sensex has gained 1,066 points, or 1.4%, while the Nifty 50 has risen 325 points, also up 1.4%. However, on a weekly basis, both the Sensex and the Nifty slipped 0.25%, ending their four-week winning streak.

Market sentiment remained upbeat amid reports that the US and Iran will continue technical talks despite recent hostilities, raising hopes of easing geopolitical tensions. Investor sentiment also received support from largely in-line Q1 results reported by Tata Consultancy Services (TCS), which boosted IT stocks, while June quarter business updates from banks further strengthened confidence in the ongoing earnings season. Additionally, lower crude oil prices and strength in the rupee provided further support to domestic equities, helping the benchmarks end the week on a positive note.

Sumeet Bagadia, Executive Director at Choice Broking, highlighted that from a technical perspective, Nifty formed a strong bullish candle on the daily chart, indicating continuation of the ongoing recovery and sustained buying interest near support zones. The index continues to trade above its key short-term moving averages, while the 23,920–24,000 zone is expected to provide immediate support, it added. On the upside, 24,450–24,500 remains the next important resistance area, and a decisive move above this zone could extend the current uptrend, said the expert.

"The RSI has improved to 55.80, indicating strengthening momentum and a positive bias. India VIX declined 8.31% to 12.25, reflecting easing volatility and improving investor confidence. In the derivatives segment, the PCR stands at 1.14, suggesting a moderately bullish undertone. Significant Call Open Interest was concentrated at the 24,200 and 24,300 strikes, while notable Put Open Interest was seen at the 24,200 and 24,000 strikes. The 24,200 strike remained the dominant Max Pain level throughout the session, indicating a strong equilibrium zone for the near term," stated Bagadia.

According to the Choice expert, technically, Bank Nifty has formed a strong bullish candlestick, reaffirming the continuation of the ongoing uptrend. The index has successfully held above the previous swing-high breakout zone, which is now aligned with the 50-Day and 200-Day EMA juncture, indicating a strong support base and improving trend strength. The immediate support is placed at 57,300–57,450, while 58,400–58,700 remains the key resistance zone. A decisive move above this hurdle could trigger the next leg of the rally, he noted.

Bagadia further informed that the RSI has improved further while remaining in the positive zone, indicating strengthening bullish momentum and healthy price participation.

As long as Bank Nifty sustains above the 57,300–57,450 support zone, the overall bias is expected to remain positive. A sustained breakout above 58,700 could pave the way for further upside in the coming sessions, he predicted.

Regarding stocks to buy on Monday, 13 July, Sumeet Bagadia recommended these three buy-or-sell stocks: Bharat Electronics, Axis Bank, and UltraTech Cement

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