Buy or sell stocks: Sumeet Bagadia recommends three shares to buy on Monday — 31 August 2026

Buy or sell stocks for 31 August 2026: The Indian stock market ended the week on a cautious note, extending their recent corrective phase as concerns over global interest rates, geopolitical uncertainty, and volatility surrounding the new Closing Auction Session weighed on investor sentiment. Although markets recovered sharply on Friday, supported by strong buying in IT stocks following upbeat global technology cues, the benchmark indices remained under pressure for the third consecutive week.

For the week, the Nifty 50 index declined around 0.31% to close at 24,175.65, while the Sensex fell nearly 0.36% to settle at 77,264.51. In contrast, the broader market remained relatively resilient, with the Midcap and Smallcap indices gaining around 0.52% and 0.51%.

Stock market outlook

Sumeet Bagadia, Executive Director at Choice Broking, believes Indian stock market sentiment is cautious to positive as long as the Nifty 50 index trades above 23,900. He said that Nifty has an existing base at the 50-DEMA level (24,050) and the next strong base is in the 23,850-23,900 range. The Choice Broking expert predicted sharp selling pressure if the 50-stock index breaks decisively below 23,800.

Sumeet Bagadia's shares recommendations

Regarding stocks to buy on Monday, Sumeet Bagadia recommended three shares to buy-or-sell on Monday: TCS, Axis Bank, and Bajaj Auto.

1] TCS: Buy at ₹2342, Target ₹2570, Stop Loss ₹2240.

TCS share price is showing signs of consolidation after a recent recovery, with the stock currently trading around ₹2,342. The recent rally faced resistance near the 100-day EMA at ₹2,361.60, where selling pressure emerged, keeping the stock below this key level.

2] Axis Bank: Buy at ₹1265, Target ₹1350, Stop Loss ₹1208.

Axis Bank's share price is attempting to stabilise after a significant pullback from its recent highs, currently trading around ₹1,265. The stock is testing a major long-term ascending trendline, which is acting as an important dynamic support zone and could provide a base for the next recovery move.

3] Bajaj Auto: Buy at ₹11910, Target ₹12774, Stop Loss ₹11300.

Bajaj Auto's share price continues to exhibit strong bullish momentum after breaking out of its recent consolidation phase and maintaining a firm upward trajectory. The stock has been seeing sustained buying interest since the late-June recovery and is currently consolidating near its fresh 52-week high.