Stocks to Buy on Monday – Know why Analyst Sandeep Jain dubs SBI, Ador Welding, Prestige Estates as top buys for high returns

Analyst Sandeep Jain said that the week gone by, was good overall with markets performing very well on certain trading sessions. It was despite the volatility in the markets. The Nifty50 managed to end above 17,500. The broad-based sentiments were optimistic.

He said that the Nifty50 journey between 16,800 and 17,500 was a rollercoaster one.  

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The stock markets ended the week almost flat on Friday, albeit in the red snapping a three-day winning streak. Broader market Nifty50 ended almost 5 points lower than the Thursday closing price. Meanwhile, the 30-share BSE Sensex ended at 58,786.67, down by over 20 points.

He brings three stocks for Monday that could be in action and have potential for significant upside. The stocks picked by him were from the futures and options (F&O), cash market and positional term pick.

SBI: Buy| LTP: Rs 494| Target: Rs 502/507| Stop Loss: Rs 489

The first stock recommended by him was from F&O segment and was intraday pick. The stock was recommended at a price of Rs 494. He puts the target price at Rs 502/507 with a stop loss of Rs 489.

Ador Welding: Buy| LTP: Rs 713| Target: Rs 730/750| Stop Loss: Rs 690

Another stock picked by him was from cash market and was recommended as intraday pick. He suggested Ador Welding Limited. The stock was recommended at levels of Rs 713. He said that stock related to capital goods or economy are doing well and are expected to perform well going forward.

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Prestige Estates: Buy| LTP: Rs 470| Target: Rs 540| Stop Loss: Rs 430

As his positional term pick for Monday, he chose Prestige Estates. He said that the real estate stocks were doing well. He said that the Bengaluru-based company was top buy in this segment.  

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)