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.

Nifty Outlook

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.

Bank Nifty Outlook

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.

Sumeet Bagadia's stock recommendations today

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

Bharat Electronics

Buy BEL in Cash @414.9 SL @ 399 TGT @ 450

BEL is currently consolidating after a healthy uptrend and is trading around ₹414.90, indicating that the stock is building a strong base before its next directional move. Technically, the stock continues to hold above its rising long-term trendline support, which has acted as a reliable demand zone during recent corrections. BEL is trading close to its 20-day and 200-day EMA, while remaining slightly below the 50-day and 100-day EMA, suggesting that a sustained move above these averages could trigger fresh buying momentum.

The RSI stands at 49.20, reflecting neutral momentum with scope for improvement. As long as the stock sustains above its trendline support and the ₹399 swing low, the bullish structure remains intact. A breakout from the ongoing consolidation may pave the way for a rally towards ₹450, while ₹399 should be maintained as the strict stop-loss.

Axis Bank

Buy AXIS BANK in Cash @ 1324 SL @ 1270 TGT @ 1418

Axis Bank is showing signs of strength after successfully holding its long-term support near the 200-day EMA on the daily chart, while also maintaining support around the 50-week EMA on the weekly chart, reinforcing the broader bullish trend. The stock has delivered nearly 14% gains over the past month, although it continues to witness supply near its lifetime high zone, resulting in periodic profit booking. The recent pullback towards the 100-day EMA attracted fresh buying interest, and the latest session ended with a strong 2% gain, indicating renewed momentum.

The RSI is currently at 48.11, suggesting the stock has room for further upside once momentum improves. As long as Axis Bank remains above ₹1270, which coincides with its 200-day EMA and a major support zone, the structure remains constructive. A sustained recovery could drive the stock towards ₹1418, aligning with its previous swing high and lifetime resistance area.

UltraTech Cement

Buy ULTRACEMCO in Cash @11711 SL @ 11200 TGT @ 12600

UltraTech Cement has staged a healthy rebound from the ₹10,706 zone, signalling renewed buying interest after an extended corrective phase. The stock is currently trading around its 200-day EMA, a crucial long-term support level, while approaching a major supply zone near ₹11,800, where multiple rejections have previously been observed. Despite this resistance, the overall structure has improved following several weeks of consolidation.

The RSI has given a positive crossover and is currently at 57.79, indicating strengthening momentum. Additionally, the 20-day EMA is on the verge of crossing above the 50-day EMA, which could provide further bullish confirmation. In the latest trading session, the stock closed above its 20, 50 and 100-day EMA, while finishing near the day's high, reflecting sustained buying strength. As long as UltraTech holds above ₹11,200, the bullish setup remains valid, with potential to rally towards ₹12,600 in the coming sessions.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.