Essential Stocks to Buy This Week: Insights from Axis Securities
Sunday, 18 August 2024, 22:50
Market Trends and Technical Stock Picks
The Indian stock market benchmark indices, Sensex and Nifty 50, are currently responding positively amidst bullish trends, especially in banks, metals, IT, and energy sectors.
Nifty 50 Technical Outlook
- The index formed a small bullish candle, indicating strong buying support around the 50-day SMA.
- A potential upward movement is expected if Nifty crosses 24,700; targets could reach between 24,850 - 25,000.
- Conversely, a break below 24,450 could lead to a drop toward 24,200 - 24,000.
Top Stocks to Buy This Week
- Bajaj Auto | Buy | Target Price: ₹10,550 - 10,800 | Stop Loss: ₹9,368
- MCX | Buy | Target Price: ₹4,920 - 5,100 | Stop Loss: ₹4,300
- TCS | Buy | Target Price: ₹4,656 - 4,750 | Stop Loss: ₹4,185
- Barbeque Nation Hospitality | Buy | Target Price: ₹690 - 713 | Stop Loss: ₹575
These stock recommendations by Axis Securities are supported by strong technical indicators, suggesting promising upward movements within the specified holding period.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.