Top Stocks to Consider Buying on Monday — May 13

After a tumultuous week of trading, the Indian stocks market showed signs of recovery on Friday, with both the Sensex and Nifty 50 ending higher. However, concerns remain as foreign portfolio investors continue to sell off, and the market awaits the outcome of the Lok Sabha elections.

Technical Analysis: Nifty and Bank Nifty
The Nifty 50 index has been fluctuating within a range of 21,750 to 22,800, nearing the lower end of this range. Meanwhile, the Bank Nifty index is approaching its immediate support level at 47,200, signaling potential market movements.

Stock Recommendations for Monday
Sumeet Bagadia, Executive Director at Choice Broking, has identified three stocks with promising technical setups for potential gains on Monday: Eicher Motors, Zomato, and Bharti Airtel.

Eicher Motors (Target Price: ₹4,930)
Eicher Motors has displayed a bullish pattern, supported by a strong base near ₹4,485 and a recent breakout. The stock’s Relative Strength Index (RSI) indicates underlying strength, with a target price of ₹4,930.

Zomato (Target Price: ₹215)
Zomato has shown significant strength, breaking above resistance at ₹201 and trading at all-time highs. The stock’s momentum, supported by key moving averages and the RSI, suggests further upside potential with a target price of ₹215.

Bharti Airtel (Target Price: ₹1,350 | Stop Loss: ₹1,270)
Bharti Airtel has demonstrated resilience, bouncing back from support around ₹1,270. Trading above key moving averages and with a rebounding RSI, the stock has a target price of ₹1,350, with potential buying opportunities on pullbacks to ₹1,280.
With these technical analyses in mind, investors may consider these stocks for potential gains on Monday. However, it’s essential to monitor market conditions and set appropriate stop-loss levels to manage risk effectively. Happy trading!

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