Sumeet Bagadia, Executive Director at Choice Broking, has recommended five stocks to buy on Monday, February 23 for investors seeking opportunities. According to the latest reports, the recommended stocks are Bajaj Consumer Care (buy at ₹383, target ₹410, stop loss ₹360), Happy Forgings (buy at ₹1347, target ₹1445, stop loss ₹1280), Yatharth Hospital & Trauma Care Services (buy at ₹720, target ₹775, stop loss ₹693), Mahindra Logistics (buy at ₹415, target ₹441, stop loss ₹400), and Torrent Power (buy at ₹1528, target ₹1640, stop loss ₹1475).
Both major indices showed strong recovery on Friday, February 20, bouncing back from previous session declines. As reported by Mint, the 30-share Sensex advanced 316.57 points, or 0.38%, to close at 82,814.71, while the Nifty 50 gained 116.90 points, or 0.46%, to end at 25,571.25. The recovery came after sharp declines of more than 1% in the previous session, indicating strong dip-buying interest near lower levels, especially around the 25,400 zone where demand emerged after yesterday's fall. The recovery indicates strong dip-buying interest near lower levels, suggesting a gradual improvement in sentiment after recent choppy movement.
According to Bagadia's technical outlook, the 25,400–25,450 range now acts as a key near-term support zone for Nifty 50, while the 25,700–25,750 band continues to act as immediate resistance. The analyst noted that sustained holding above support after yesterday's correction keeps the broader structure intact, with a decisive breakout above 25,888 required to revive stronger upside momentum. Despite intraday volatility, the index managed to stabilise and close in the green, suggesting a gradual improvement in sentiment after recent choppy movement.
As reported by Mint, Bank Nifty also witnessed a strong recovery on February 20, closing higher by 432 points at 61,172, outperforming the broader market after previous session weakness. Bagadia believes the index showed resilience as buying interest emerged near the 60,550 support zone following yesterday's fall, indicating continued institutional participation in banking stocks. The index is holding firmly above the psychological 61,000 level, reflecting underlying strength despite recent volatility. The 60,800–60,900 zone now acts as an important near-term demand and support area, with immediate resistance placed near 61,400–61,500. A sustained breakout above this band would likely push the index towards all-time high levels again.