Stocks to Buy on Monday, 10 February 2025

Last Friday, Nifty saw a roller coaster ride with some volatility due to the RBI MPC meeting and repo rate cut announcement, the Index closed nearly flat with a loss of 43 points.

On the daily chart, It took support at the 15DEMA and rose back above the 23,500 level which indicates that the support at the lower levels is strong and it is very likely that the Index will rise higher on Monday.

However the pressure from the global markets where the US market fell over 1% due to weaker-than-expected jobs data and a sharp drop in consumer sentiment – will likely affect the Indian stock market too.

Anyway, Nifty is slowly turning bullish and A falling wedge pattern formation and a Bullish engulfing pattern on the weekly chart of Nifty suggests a coming bull run in the market.

So, we have 5 stocks to Buy on Monday, as recommended by team 5paisa.

Stocks	Action	CMP	SL	Target 1	Target 2
Glenmark Pharma	BUY	1540	1493	1587	1620
JSW Steel	BUY	980	946	1015	1030
Indus Towers	BUY	364	349	380	393
Century Plyboard	BUY	866	834	898	925
Welspun Corp	BUY	802	774	830	850

1. Glenmark Pharmaceuticals

Stocks	Action	CMP	SL	Target 1	Target 2
Glenmark Pharma	BUY	1540	1493	1587	1620

This stock forms a double-bottom pattern on the chart and currently trading near one of the important resistance levels of 1565, but as it forms a Bullish belt holds a candlestick from the support of Its short-term DEMAs and rises above its 50 and 100DEMA – the stock is set for a rise with a target of Rs. 1587 and then 1620.

2. JSW Steels

Stocks	Action	CMP	SL	Target 1	Target 2
JSW Steel	BUY	980	946	1015	1030

On the daily chart, JSW breaks above its long-term resistance level of Rs.950 and a strong bullish candlestick shows the domination of the bulls – suggesting a continuation of the uptrend in the stock.

3. Indus Towers

Stocks	Action	CMP	SL	Target 1	Target 2
Indus Towers	BUY	364	349	380	393

Currently, the stock is trading near one of its important levels but following a double-bottom pattern from the support of Rs.315 – the stock is expected to continue its uptrend in the coming days too.

Also, the stock has moved above all of its short and long-term DEMAs and continuously holding above that level, which suggests a potential in the stocks – hence we have a buy recommendation for the stocks with a target of Rs. 380 which is 5% higher from the current market price.

4. Century Plyboards

Stocks	Action	CMP	SL	Target 1	Target 2
Century Plyboard	BUY	866	834	895	925

In the last trading session, this stock broke above its resistance level of 865 and somehow managed to close the day in green above the resistance levels, showing a strong potential.

Also, the stock is currently trading, forming an Ascending triangle pattern and this breakout will lead to a bull run in the stock, where the first target for the stock is Rs.898 and then Rs.925 which is a 7% higher from the current levels.

5. Welspun Corp

Stocks	Action	CMP	SL	Target 1	Target 2
Welspun Corp	BUY	802	774	830	850

On the daily chart, The stock has risen forming a Big Bullish candlestick following a Hammer candlestick along with high volume, topping near its all-time high levels.

Also, the technical indicators turn sharply, moving into the buy zone – which indicates a continuation of the price rise in the stock.